As we had a drastic correction in Doge which was mainly interrupted to a fall in the stockmarket, following Bitcoin, and a catalyst as Elion Musk coming with 'bad' news, I haven't dared to touch this coin for its 'unfundamental' value and for its crazy gains in a short period of time purely due to hype and Dogecoin.
On the other hand I must say that we had an immediate drop of 61.8% exactly on that FIB level and if Doge becomes bullish again, we might see Shib get back to ATH and even double the correction, which is a +250% upwards movement or 0.000055 level.. did I miss some zeros?
One most important thing that I am rather bullish on this coin is the Binance listing, which is a big thing.. I missed the boat before the listing as almost all coins have their pre-pump before a Binance listing, and when it gets listed finally, there is a very short run-up with a sell-off afterwards, which takes, about.. a few days, a week or a month or so, depending of the hype, the bull/bear cycle we're in and volume of-course. Speaking about volume.. This thing has now still more than 2B usd volume on Binance vs USDT ! And that for a sh*tcoin.. really weird.. it is the attention worth anyways.
I cannot judge the chart on EMA's because this chart is just 3 weeks old, and the 21 daily EMA is just visible, and for the 50 or 100.. well.. you know how many days you have to wait for that.
In this correction Shiba Inu has been downtrading in a clear descending wedge, which it has broken out from and could bring us to 2500 .. satoshi dollars? lol, or 0.00002500 or so.
I am just saying all this, because we had a very fast sell off, which is good to keep this bullet-train active.
I am not really seeing an Elliott wave cycle in this one, I can't define a 5th wave, let alone, a 3th, so this might actually just have been the 1st wave ! after which we are in a correctional 2nd wave.. There could be a potential leg down, and worst case scenario the 78.6% level, but then I am not too sure it will get wiped out..
We should get above the 2500 quick, to reach ath, then we can validate this analysis.
On the other hand, Doge is bumping on the resistance levels of 0.45, trendlines and a descending wedge as well, and so on.. It clearly wants to break out. I also see that Shib has sporadically moves of its own, so that's a good sign as well.. To create moves of 10-20% in just minutes, is at least to say.. insane !
So I guess there's still a big community behind, and as there is only USDT, BUSD, BTC pairs available AND NO margin Trading on Binance, I think it's a good thing ..
So or we're selling, or we're buying.. no shorting and exterior forces..
I am not claiming this is definitely going to moon again, but I wouldn't be surprised...
On the other hand I must say that we had an immediate drop of 61.8% exactly on that FIB level and if Doge becomes bullish again, we might see Shib get back to ATH and even double the correction, which is a +250% upwards movement or 0.000055 level.. did I miss some zeros?
One most important thing that I am rather bullish on this coin is the Binance listing, which is a big thing.. I missed the boat before the listing as almost all coins have their pre-pump before a Binance listing, and when it gets listed finally, there is a very short run-up with a sell-off afterwards, which takes, about.. a few days, a week or a month or so, depending of the hype, the bull/bear cycle we're in and volume of-course. Speaking about volume.. This thing has now still more than 2B usd volume on Binance vs USDT ! And that for a sh*tcoin.. really weird.. it is the attention worth anyways.
I cannot judge the chart on EMA's because this chart is just 3 weeks old, and the 21 daily EMA is just visible, and for the 50 or 100.. well.. you know how many days you have to wait for that.
In this correction Shiba Inu has been downtrading in a clear descending wedge, which it has broken out from and could bring us to 2500 .. satoshi dollars? lol, or 0.00002500 or so.
I am just saying all this, because we had a very fast sell off, which is good to keep this bullet-train active.
I am not really seeing an Elliott wave cycle in this one, I can't define a 5th wave, let alone, a 3th, so this might actually just have been the 1st wave ! after which we are in a correctional 2nd wave.. There could be a potential leg down, and worst case scenario the 78.6% level, but then I am not too sure it will get wiped out..
We should get above the 2500 quick, to reach ath, then we can validate this analysis.
On the other hand, Doge is bumping on the resistance levels of 0.45, trendlines and a descending wedge as well, and so on.. It clearly wants to break out. I also see that Shib has sporadically moves of its own, so that's a good sign as well.. To create moves of 10-20% in just minutes, is at least to say.. insane !
So I guess there's still a big community behind, and as there is only USDT, BUSD, BTC pairs available AND NO margin Trading on Binance, I think it's a good thing ..
So or we're selling, or we're buying.. no shorting and exterior forces..
I am not claiming this is definitely going to moon again, but I wouldn't be surprised...
Comment:
apologies.. second thought.. please be cautious, because bitcoin isn't bullish yet.. I am not very sure if we can have a continuation.. stock market is on the brink as well..