In a recent development in the world of crypto trading, Kamaz, a renowned crypto analyst, has unveiled a series of optimism-filled price predictions for the budding cryptocurrency Shiba Inu (SHIB). His analysis suggests an auspicious trajectory for SHIB hitting above the elusive $0.00003 mark, a realm last visited by the currency during a previous bull cycle. Interestingly, these bullish speculations are unfolding against a backdrop of larger market volatility and turmoil.
Kamaz’s examination is grounded in a meticulous 4-hour chart timeline that he broadcasted on his social media. In the midst of this analysis, SHIB was noted to be in active trading at the rate of $0.00002883. The recent candlestick chart formation unveiled a deliberate attempt from the bulls to overturn the tide of bearish candles that had dominated the market for the preceding 24 hours.
In his thorough analysis, Kamaz suggests initiating a long position on SHIB with a vision set on three distinct, progressively increasing targets materializing by the second week of April. The first of these targets looms just above the $0.00003 mark, a threshold that coincided with the lowest plunge of the last candlestick formation on the last day of March.
Kamaz’s predictions continue to intrigue as he sets the next target at a slightly higher zone of just below $0.0000315, neatly aligning with the peak reached on March 21, which saw SHIB soaring to $0.000031336. If SHIB aptly navigates through the $0.00003 resistance level and achieves a stable foot, Kamaz sees the crypto catapulting even higher, up to $0.000032930. This mark had last been conquered by the currency on March 28, representing a healthy 14% leap from the current price.
While the profits at this level might appear meager, the relevance lies in understanding that Kamaz’s predictions are formulated in relation to a short-term price perspective. It is worth recollecting that during the current bull cycle, SHIB had eclipsed these expectations, reaching new heights of $0.000044 on March5. This was followed by a 20% downward correction from the zenith.
Understanding the innate volatility of cryptocurrencies, Kamaz cautions investors to set a firm stop loss at $0.00002810 to mitigate potential losses in the event of a reversal.
Defending his SHIB outlook, Kamaz makes references to various factors. This includes SHIB’s impressive transformation from resistance to support, an encouraging bullish order block within a day’s trading, and interesting discounts among other things. On-chain metrics, in harmony, point to an impending bullish reversal for SHIB, accounting for parameters like a surge in whale accumulation and exponential SHIB burns. Regular updates and promising project launches from the Shiba Inu team serve to consolidate this bullish sentiment. The latest among these developments is the Shiba Eternity card game.
Vouching for this optimism on SHIB charts, crypto analyst Armando Patonja envisions SHIB breaking free from a triangular formation, potentially skyrocketing to a majestic $0.000048 for the second time this year. He sets the subsequent target remarkably higher at $0.0006, over 100% above its current trading price.
While confident in his analysis, Kamaz does remind investors of the inherent risks, advising them to conduct their own thorough research before stepping into the investment world. He advocates for a judicious parsing of information to minimize losses, a fundamental principle of any investment strategy.
