Shiba

Shiba Inu

<div class="dailyhodl">
 <p>A widely followed crypto analyst is updating his outlook on one red-hot Solana (SOL)-based&nbsp;memecoin.</p>
 <p>Pseudonymous crypto strategist Altcoin Sherpa tells his 201,400 followers on the social media platform X that Shiba Inu (SHIB) rival Bonk (BONK) could still have more upside potential after a massive rally.</p>
 <div class="code-block code-block-055f5289fd7e731bb72be7c5a19d18ed code-block-1">  
 </div>
 <p><em>“BONK: bulk of move probably over, but I think this could also just continue. In short, I have no idea and it’s extremely hard to ever predict these memes. I don’t think you should short this thing right now though, even if it is in a good area for pullback.”</em></p>
 <figure style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="css-9pa8cd" draggable="true" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GBUVmceX0AEMfus?format=png&amp;name=medium" alt="Image" width="1200" height="660">
  <figcaption class="wp-caption-text">
   Source: Altcoin Sherpa/X
  </figcaption>
 </figure>
 <p>Looking at the trader’s chart, BONK was retesting a key level Thursday at $0.0000147 after a dip down. However, BONK later soared and is trading for $0.00002864 at time of writing, more than 1,219% from its November 15th close at $0.00000217.</p>
 <p>Next up, the trader says that artificial intelligence (AI)-focused altcoin Fetch.ai (FET) could move another leg up after flipping a resistance level at $0.60 into support and nearing a key level at $0.77.</p>
 <p><em>“FET: current level is interesting, but I am still not going to be buying around here. I’m still looking for my main AI play for this cycle to be honest. I have other bags and narratives packed but not this one (yet). $0.90 seems likely in the mid-term to be honest.”</em></p>
 <figure style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="css-9pa8cd" draggable="true" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GBZU_RbWIAAH5FM?format=jpg&amp;name=4096x4096" alt="Image" width="2145" height="1179">
  <figcaption class="wp-caption-text">
   Source: Altcoin Sherpa/X
  </figcaption>
 </figure>
 <p>FET is trading for $0.72 at time of writing, up 9.2% in the last 24 hours.</p>
 <p>Lastly, the trader says that Ethereum (ETH) competitor Avalanche (AVAX) may dip down to $30 based on Fibonacci retracement levels and the 200-day exponential moving average (EMA).</p>
 <p><em>“AVAX: the 200 EMA on the four-hour will get tapped eventually. I don’t know when but I would be patient. Look for $30 and lower eventually if this is the mid-term top. I have a spot bag of AVAX that I plan to keep holding for a while.”</em></p>
 <figure style="width: 100%" class="wp-caption aligncenter"><img loading="lazy" decoding="async" class="css-9pa8cd" draggable="true" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GBZUOJSWUAAnRrx?format=jpg&amp;name=medium" alt="Image" width="1200" height="660">
  <figcaption class="wp-caption-text">
   Source: Altcoin Sherpa/X
  </figcaption>
 </figure>
 <p>AVAX is trading for $39.54 at time of writing, up slightly in the last 24 hours.</p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/trader-updates-outlook-on-shiba-inu-rival-that-s-exploded-over-1-200-in-a-month-predicts-rally-for-fetch-ai-tbt73853.html">https://thebittimes.com/trader-updates-outlook-on-shiba-inu-rival-that-s-exploded-over-1-200-in-a-month-predicts-rally-for-fetch-ai-tbt73853.html</a></p>

Trader Updates Outlook on Shiba Inu Rival That’s Exploded Over 1,200% in a Month, Predicts Rally for Fetch.ai

TheBitTimes

Other articles published on Dec 15, 2023

Solana CEO to reinvest $1b, traders accumulating ApeCoin and Everlodge

Fetch.ai Price Jumped 34%; Will FET Price Go Beyond $1 in Jan?

Los Angeles Indicted Four Individuals Over $80 Million Crypto Investment Scams

Is another Bitcoin bull run underway? This analyst thinks so

Bitget's 2024 Bitcoin Report: ORDI's High Potential and Lightning Network's Crucial Role (15 Dec)

Can Polygon (MATIC) Price Bounce Back After a Major Fall Since November?

Join our free newsletter for daily crypto updates!