Early October saw Shiba Inu [SHIB] slip and drop to lower prices. It found support at the $0.000010 price level and even dipped below this support on multiple occasions. However, fast forward to the present and SHIB has not been left behind during the latest bull run.
SHIB rallied by as much as 55% from its lower range to its new monthly high of $0.00001519. This bullish correction was notably much sharper than its July bounce. Many traders might interpret this as a sign that it might be the start of another continuous bullish uptrend. Unfortunately, the highly unpredictable nature of the market can make it difficult to determine whether a trend will continue or not.
Why SHIB might deliver some downside
Shiba Inu’s longer term outlook still depended heavily on the bulls. However, the dog-themed token might not be done with the lower range. SHIB’s $0.00001254 press time price meant that it had already pulled back by as much as 17% from its current monthly top.
https://cryptonews.com.co/altcoin-news/shib-short-sellers-may-have-a-profit-making-window-before-this-pressure-kicks-in/
Topic: SHIB short-sellers may have a profit-making window before this pressure kicks in (Read 43 times)
October 31, 2022, 01:05:59 AM
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