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Shiba Inu buying opportunity is now open.The coin has been among the most successful cryptocurrencies this year. Currently, it is among the 20 largest cryptocurrencies with a market valuation of 19 billion dollars.
The coin is famous for its huge price rallies of up to 500% within a week. This forms part of the reasons the number of investors is growing fast.
Since hitting an all-time high price in late October, SHIB has been on red struggling to regain the bullish momentum again. However, most of the price action indicators point to a potential rally soon that could take it back to the top.
As an investor, this presents a key opportunity to buy SHIB with a higher probability of a bullish movement.
Price Action Signals
After trading at a key level for a while, the Shiba Inu coin is starting to show signs of a reversal. This area has acted both as a resistance and a support zone previously. Normally, such areas are key in making investment decisions as investors tend to use them as market rules.
last week’s candlestick formed a bullish engulfing pattern indicating a rise in the buyers’ strength. This indicates buyers are gaining momentum and is a sign more buyers are about to join the market.
The stochastic indicator is also in the oversold position helping strengthen the probability of a market reversal for the price action traders.
Investing requires a combination of both the fundamental and technical indicators. The use of these two in making market decisions helps increase the chances of making correct market decisions.
Increase in the Number of Investors
The number of Shiba investors now stands at 1.1 million. This indicates growth in market confidence in the coin’s future.
An increase in the number of investors helps in growing demand that is key in rallying the price. Hence, this has a close relationship with the price action indicators.
Although the number of cryptocurrency investors remains low in comparison to other mature financial assets, there is tremendous growth as they become more popular.
This increase is key in the process of taking these coins mainstream. It is also key in marketing SHIB helping attract more investors.
As the list continues to expand, the price will high likely grow due to an increase in demand. This will become a key driver in growing the price of Shiba in the future.
Low Shiba Coin Pricing
Since hitting an all-time high in October, the coin has lost an average of 60% from its peak price. This presents an opportunity for investors to get more coins at a cheaper price.
Long traders usually target to buy low and sell high. It could also be redefined as another redemption opportunity for those investors that missed the last rally.
Predictions indicate the coin could rally up to 100% after the reversal amounting to doubling your investments within a short period.
Why this is the Best Shiba Inu Buying Opportunity
Some factors such as price action signals, increase in the number of investors and low Shiba pricing make this the best Shiba Inu buying opportunity.
After spending the last months in the red, the coin could reverse any time from now. Hence, this presents an opportunity for buyers to get into the market.