A popular analyst and trader warns that the broader crypto market will be affected if the price of a meme coin like Shiba Inu (SHIB) explodes.
Pseudonym Analyst Altcoin Sherpa To tell His 189,300 Twitter followers say that if Memecoin starts to rise, it could lead to a market recovery and the cryptocurrency market cap could surge past $1 trillion.
“Shiv: Is it time for the meme coin to move?
(This could mean that the cycle ends soon)”
From his technical analysis chart, Altcoin Sherpa could see the Meme coin surpass $0.0000160 with a 29% increase from current levels after Shiba Inu crossed the 200-week exponential moving average (EMA) on the daily chart. seems to suggest that there is
The Shiba Inu is trading at $0.0000124 at the time of writing.
About Bitcoin (BTC), Analyst To tell If the flagship crypto follows the 2019 playbook, BTC is unlikely to fall below $19,000, but it could rise above the $30,000 resistance level.
In 2019, Bitcoin lost more than 50% of its gains in the second half after almost quadrupling its price in the first half of the year.
“But if it’s going to be like 2019, I expect this to continue.
This grind continues above $24,000 before stalling near $30,000 and likely continuing higher. That’s going to be the overall scenario for 2019 for me. ”
Bitcoin is trading at $21,219 at the time of writing.
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Generated image: In the middle of the journey