The Shiba Inu (SHIB) price points that truly matter in 2024 are $0.000017 followed by $0.000023 and $0.000045.
Why do we emphasize these SHIB price points? Because when price is above or below them, it tells something about the potential outcome.
SHIB had a great ride – it will not continue to rise endlessly – in fact, meme tokens like SHIB have a track record of a quick rise followed by a slow decline.
How exactly to interpret those 3 important SHIB price points? That’s what we discuss in this article.
Shiba (SHIB) broke out – now retracing
It was just a week ago when we wrote: Shiba Inu (SHIB) Breakout Happening Now – SHIB Price Forecast 2024.
In the meantime, a lot has happened.
First and foremost, SHIB already reached out SHIB price forecast for 2024!
This is what we wrote in our article
Once above $0.000023, we see $0.000090 as a reasonable target, former ATH. If this materializes, SHIB will have a market cap of $53B. That’s a lot, it’s not sustainable, as it will be as large as Solana which does not make any sense at all (Solana is growing, it has a lot of utility).
So, consequently, our SHIB price forecast for 2024 is $0.000045 (take profit target), and only do we see SHIB moving to $0.000090 if BTC gets closer to $100k which might happen in 2024 or in 2025.
So, not only did our price target of $0.000045 get touched, it also happened super fast. This is what we wrote:
SHIB has a track record of short-lived uptrends. We have to taken into account that SHIB price targets may last a few days, not longer.
It happened exactly as expected – fast and furious.
The one important sentence from our previous article:
Don’t forget – take profits – have a game plan ready – when prices are explosive it is counterintuitive to get out.
We are pretty sure that most were not able to take (partial) profits – it feels so good when prices are rising.
SHIB prices can move higher but also lower
Prices move in two directions.
SHIB prices are no exception – they move higher and can also go lower.
In fact, the faster and higher up, the more they will eventually come down from the top.
That’s why following social media is going to confuse investors. These type of messages, right after a big rise, are playing games with the minds of investors:
IF YOU OWN $SHIB, RT! ???? pic.twitter.com/dy1a3KP1St
— SHIB WOOF! (@ShibInfo) March 7, 2024
We are 100% sure that close to 100% of SHIB holders did not take the ‘take profit’ opportunities seriously, certainly not with tweets like the one above.
When SHIB comes down again, it might be a painful experience. That’s why we always recommend to keep ‘free tokens’ – get your principal out when a token price doubles, keep the tokens for free. That’s a great way to de-risk a position, and stay in synch between ratio and emotions.
On the day SHIB touched $0.000045 we sent a take profit alert to members in our crypto alerting service (most of them locked in 400% profits, keeping free tokens).
Do not fall in love with your tokens
As discussed above, one major risk for crypto investor if thinking in terms of ‘higher prices’, forgetting that any market and any token moves in two directions.
Another major risk is falling in love with your token(s).
This type of social media post makes it only worse:
GM #SHIBARMY How are we all doing today?
— Shib (@Shibtoken) February 28, 2024
Be careful – never fall in love with any market, stock, token.
Shiba (SHIB) price points that truly matter in 2024
We go back to the chart, and share the SHIB price points that truly matter in 2024: $0.000017 followed by $0.000023 and $0.000045.
This is how to read the SHIB chart:
SHIB above $0.000017 and $0.000023 is bullish, however, only once $0.000045 is it super bullish.
Whenever SHIB falls below $0.000023 it will continue to consolidate for a long time.
There is no guarantee that SHIB will continue to trade above $0.000023, so be careful thinking that it will stay above this level forever.
SHIB below $0.000023 will likely bring it to $0.000017.
SHIB below $0.000017 is not good – it will likely stay below that level for a long time.
In a way, $0.000023 is the line in the sand. A breakout above this level does not imply SHIB will remain there. However, drop below this level indicates that it will likely stay below it for a while.
Source – Tradingview
We do not want to create fear.
We also do not want to create excitement.
We look at the chart, to neutralize emotions like fear and excitement.
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