Shiba Inu fell to the $0.000009 mark this month, making investors skeptical about its prospects. SHIB rebounded in price on Monday and deleted its fifth zero and is now trading at $0.0000. Watcher Guru provided an analysis last week predicting that swing trading in SHIB could lead to profits. The analysis turned accurate as the dog-themed token knocked out a zero in the charts. Traders could have made close to 5% returns in a week had they taken the step of swing trading. Every time SHIB has plummeted to five zeroes, it has knocked out a zero in a month.
Also Read: Shiba Inu Team Sends Message of Hope Amid Price Stagnation
Shiba Inu Trading Volume Rises 75%
The brief spike in price comes after Shiba Inu’s daily trading volume increased by 75% on Monday, according to Coingecko. This helped SHIB to delete its fifth zero and trade with four zeroes in the charts. Its market cap also climbed above the $6 billion mark, indicating that investors’ confidence is growing. Nonetheless, despite the brief spike, SHIB is down nearly 38% in a year, due to less hype and buzz.
Also Read: How High Will Shiba Inu Go If Half Its Supply Is Destroyed?
Should You Start Investing Again?
The answer is both yes and no. Yes, because Shiba Inu is still at its low, and traders who want to hold on for the long term, this is the best time. No, because SHIB just deleted its fifth zero, and the market is still a bit weaker compared to September. Therefore, chances of it dipping again are high, and the best time to accumulate the token is at five zeroes. Remember, accumulating at five zeroes makes you get an extra 1 million SHIB tokens.
Whenever Shiba Inu comes out from the bearish claws and begins a rally, every million token counts. It leads to a snowball effect where the investor’s portfolio shows bigger gains. Buying low at five zeroes and selling high is the ultimate goal.
Credit: Source link
