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SHIB/USD is traversing in a very tight consolidated range as it continues to trade in fractional cents, this while speculative zeal surrounding Shiba Inu seemingly erodes.
SHIB/USD remains stuck in a rather tight consolidated mode as it tries to recapture its speculative zeal which made it a favorite of the cryptocurrency trading world in the past. The long term bearish trend has not only cut SHIB/USD value by a stunning percentage over the past months, but its ability to attract wagers on upside momentum has also seemingly come to a grinding halt. Yes, there may still be plenty of folks dreaming of a large pay day from Shiba Inu if it ever lurches to sudden new apex highs, but for now SHIB/USD appears to be sleeping.
Perhaps as SHIB/USD slumbers comfortably and trades within its fractionally consolidated price range, some traders are taking advantage of its micro moves with large wagers and finding the potential to gain from its value changes. However, not only has the long term bearish market put a damper on speculative betting on SHIB/USD, but the fall of LUNA/USD and TerraUSD may have sparked a fear of the number zero.
SHIB/USD has no utilitarian purpose and the recent trading history of LUNA/USD has been a lesson perhaps for speculative cryptocurrency traders. The ability of LUNA/USD to crash from over 100.0000 per token in early April to a value which is now factored in fractional cents and has seen its trading stopped on many of the major cryptocurrency exchanges is a definite warning sign. This doesn’t mean the same will happen for SHIB/USD, it simply points out that trading in cryptocurrencies remains not only speculative and sometimes dangerous, but that unknown drama can develop without road signs. Apparently prices can literally go to zero.
If the broad cryptocurrency market remains nervous and trading volumes remain low in Shiba Inu, there is a reason to suspect SHIB/USD will sink lower. The current value of approximately 0.00001160 has been in a consolidated stance and traders wagering on price changes need to use entry points, take profit and stop loss ratios to get in and out of trades.
SHIB/USD is a speculative cryptocurrency at best. Traders who are still tempted to swim its waters need to understand its fractional trading landscape. Small wagers could potentially turn into large percentage winnings if the correct direction is chosen with Shiba Inu. However, if SHIB/USD was to go in the wrong direction and a lot of leverage is used, results can be costly for poorly chosen bets. In the short term, SHIB/USD continues to look like it may incrementally trade lower.
Shiba Inu Coin Short Term Outlook
Current Resistance: 0.00001189
Current Support: 0.00001149
High Target: 0.00001243
Low Target: 0.00001008
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