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- Shiba Coin Could see a Reversal soon
- This is the right time to buy the dip
Shiba Inu coin price has been dipping in the last few weeks. This comes after the coin hit a new high pushing its market valuation to a new all-time high of 35 billion dollars.
Naturally, this is how markets behave. They dip after a long rally. This is a period where profitable investors take their profits and sellers take control of the market.
However, for the inexperienced investors, this is a period of panic and confusion especially those who bought at the very top.
Buying the Shiba Inu Coin Dip
A dip offers the best chance to get into the market. At this point, the asset is cheaper creating an opportunity to buy more. It is also a chance for those investors who missed the previous rally to get into the market.
From Experience, Shiba is a coin that could rally by up to 500% in a few days. A new rally will inevitably come as that is how cryptocurrencies work. Their high volatile nature makes them move up and down regularly.
Most indicators are showing the market selling strength is exhausting. This shows the buyers could take control soon and start pushing the price up.
Although indicators are not always correct, they have a higher chance of predicting the market correctly. Some of the momentum indicators show the market is in an oversold position. A possible sign there could be a reversal as the market is just waiting for a trigger.
However, the market will never give you a signal that is 100%. Hence there is always an element of risk that you take by choosing to invest.
Growing Number of Shiba Inu Coin Investors
Even though the price of Shiba has been falling, the number of investors hit the 1 million mark recently. This indicates there are enough buyers to build the right momentum for a reversal.
Normally, this is a huge number of investors for a coin that is less than 2 years in the market. It shows the coin remains popular and most investors believe the current fall is temporary.
The General Crypto Market is Dipping
Shiba is not the only crypto that is dipping but it is an industry occurrence. All major currencies have been trading lower than their peaks.
This is a sign the fall in the price of SHIB is not about the coin itself but overall market sentiment. The Crypto market tends to move in a similar direction especially the top currencies.
Hence, the dip is part of this cycle. Smart investors are taking it as a chance to accumulate their crypto assets with SHIB being among those in consideration.
Crypto Market is Still Young
Most cryptocurrencies have been in the market for less than a decade. They have a long way to go before achieving maturity.
A young market is susceptible to such random price movements as they don’t follow normal market rules.
As a Shiba investor, this dip offers another opportunity for you to buy more and wait for the rise to earn your returns.