A prominent crypto trader has made a bold prediction about the future of Shiba Inu (SHIB), a top memecoin that has gained significant attention in the cryptocurrency market. According to analyst Kaleo, SHIB is poised to make substantial gains in the coming days, and he believes that the memecoin is gearing up for a significant run-up after breaking above a horizontal resistance and retesting it as support.
In a recent tweet shared with his 605,700 followers on the social media platform X, Kaleo expressed his optimism about SHIB’s potential for growth, stating, “I think by the time the candles reach the far right side of the screen, we’ll see some green candles hitting the green box.” The accompanying chart illustrates his forecast, indicating that SHIB could soar above $0.000015 in early December. With SHIB currently trading at $0.00000861, Kaleo’s prediction suggests potential gains of over 74% if the memecoin reaches his target.
In addition to SHIB, Kaleo is also closely monitoring FLOKI, another popular memecoin. According to the crypto strategist, FLOKI may witness significant rallies if it successfully breaks a diagonal resistance around $0.00004. “Picked up a small bag of FLOKI as well. I want exposure to all of the dog coins, and think this one could get interesting if breaks this high time frame resistance,” he noted in a tweet. As of the time of writing, FLOKI is priced at $0.000032.
Shifting his focus to Bitcoin (BTC), Kaleo believes that the recent correction in the cryptocurrency’s price is merely a ploy to shake out speculators before the digital asset embarks on a rally to a new 2023 high. “We’re just shaking out bulls with no conviction and trapping a few more bears before the send to $40,000,” he stated. With Bitcoin currently valued at $36,507, Kaleo’s optimistic outlook suggests a potential uptrend in the near future.
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As the cryptocurrency market continues to be a hotbed of speculation and volatility, it is important for investors to stay informed and closely monitor price action. Subscribing to email alerts from reliable sources such as The Daily Hodl can provide valuable insights and updates directly to your inbox. Additionally, checking the latest news headlines and staying connected through social media platforms like Twitter, Facebook, and Telegram can help traders stay ahead of market movements and emerging trends.
It’s worth noting that while opinions and predictions shared by analysts like Kaleo can offer valuable perspectives, cryptocurrency investments are inherently risky and require thorough due diligence. Investors should carefully assess the potential risks and rewards of any investment decision and consider their own risk tolerance. The Daily Hodl does not offer specific investment advice and encourages individuals to make well-informed decisions based on their individual circumstances.
In conclusion, as Shiba Inu, FLOKI, and Bitcoin are closely watched by traders and investors, it’s important to remain vigilant and adequately informed about the latest developments in the cryptocurrency market. By staying up-to-date with reliable news sources and market analysis, individuals can make more informed decisions and navigate the dynamic and rapidly changing landscape of digital assets.
