🔥 SHIBA Keeps Bleeding: Memed To Zero?

SHIBA was one of the great success stories of the first half of 2021. What started as a memecoin, ended up as the winner of the new animal coins, with the greatest accomplishment being the Binance listing.

However, after this Binance listing, SHIBA has been bleeding value over time. As indicated on the chart, every top seems to be a lower high. Even with the huge crypto reversal we saw in August, SHIBA saw a +50% move in two weeks and has been bleeding ever since.

With most tokens making a +100% - +200% in the same time span, we can confidently say that investors are not interested in SHIBA anymore.

As of yesterday, SHIBA has produced a new low since the Binance listing since it has broken through the 0.0..600 support level, potentially paving the way for more pain to come.

Something substantial needs to happen to keep this token from bleeding to death.

Happy trading!

Comment:

And a few hours after I made this analysis, Coinbase PRO lists SHIB, causing a huge bullish move. In the short-term, SHIB might profit from this. In the long-term, I doubt it will make a difference, causing the price to bleed further.