As Shiba Inu’s price stagnates in the charts, 23 cryptocurrency experts provided their trading strategy on whether to buy, sell, or hold the token. The insights would help traders make informed decisions about their investments and adjust their strategies accordingly.
In this article, we will highlight the conclusions of 23 cryptocurrency experts from Finder’s panel, who provided their insights on whether investors should buy, sell, or hold Shiba Inu.
Also Read: Analysts Debate: Will Shiba Inu Come Back After Massive Price Decline?
What Should You Do Now? Buy, Sell, or Hold Shiba Inu?
The majority of cryptocurrency experts from the Finder’s panel gave a ‘hold’ call for Shiba Inu. Around 57% of the strategists advised traders to hold on to their tokens for as long as it takes. “I am unsure of where Shiba Inu price action is headed over the long term. I expect the token to follow the broader memecoin market through 2025, which I am bullish on,” said Josh Fraser, the co-founder of Origin Protocol.
In addition, 30% of the strategists advised investors to sell Shiba Inu, citing a lack of use cases. The 589 trillion tokens in circulation are brought under consideration for the bearish case scenario.
Also Read: SHIB Supply Dries Up as Traders Bet Big on Uptober Breakout
Jeremy Britton, CFO of BostonTrading, explained that SHIB cannot hold up to basic maths. He gave investors the ‘sell’ call, explaining that Shiba Inu has major limitations in value. “There are over 500 trillion SHIB in existence. Good luck with that. The GDP of the entire world is only around 100 trillion. Even ‘the greater fool theory’ has its limitations,” he said.
Also, only 13% of cryptocurrency strategists advised traders to ‘buy’ Shiba Inu. “Technically, SHIB has shown positive signals with recent price movements. Particularly breaking resistance levels and establishing new support, which could indicate an ongoing bullish trend,” said Gracy Chen, CEO of Bitget.
In conclusion, 13% of analysts say ‘buy’ Shiba Inu. 30% of the analysts advised to ‘sell’ the token. 57% of them urged traders to hold on to SHIB for the long term.
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