Shiba

Bitcoin ETF

Giant

Shiba Inu

Crypto analyst Crypto Noan has revealed a profit-taking strategy that crypto investors can adopt as they invest in <a href="https://bitcoinist.com/shiba-inu-shibarium-hard-fork-may-2/">Shiba Inu (SHIB)</a>, the second-largest meme coin by market cap. This strategy would be most beneficial to those who need guidance in <a href="https://bitcoinist.com/shiba-inu-pepe-whales-sold/">securing profits</a> as the meme coin continues to make significant price gains.&nbsp; 
<h2 id="price-levels-to-secure-profits-from-shiba-inu">Price Levels To Secure Profits From Shiba Inu</h2> 
In a chart shared on his X (formerly Twitter) platform, Crypto Noan highlighted four price targets from which <a href="https://bitcoinist.com/robinhood-shiba-inu-shib/">Shiba Inu</a> investors should look to take profits. The first take profit zone he highlighted was at $0.000028181. The second take profit zone was at $0.000032816; this serves as a moderate target for those who may not be satisfied with the returns at the initial take profit target.&nbsp; 
Related Reading: <a href="https://bitcoinist.com/morgan-stanley-spot-bitcoin-etf/">Investment Giant Morgan Stanley Considers Providing Spot Bitcoin ETF Options For Clients</a> 
<img loading="lazy" decoding="async" class="alignnone size-medium wp-image-296855 aligncenter" src="https://bitcoinist.com/wp-content/uploads/2024/04/Shiba-Inu-2.png?w=512&amp;resize=512%2C339" alt="Shiba Inu" width="512" height="339" data-recalc-dims="1"> 
Crypto Noan further highlighted $0.000039035 and $0.000043609 as the third and fourth take-profit zones, respectively. These price levels are no doubt reserved for those with crypto investors with great patience and a large risk appetite, considering that <a href="https://bitcoinist.com/shiba-inu-burn-2076-spike/">Shiba Inu</a> will have to make a price gain of over 51% and 69% to attain those targets.&nbsp; 
Interestingly, Shiba Inu already hit the first and second take-profit targets at some point <a href="https://bitcoinist.com/shiba-inu-dogecoin-shib-excitement/">this year</a>, considering that the crypto token rose to as high as $0.00003592 on March 5, according to <a href="https://coinmarketcap.com/currencies/shiba-inu/?update=1714124626235" rel="nofollow noopener" target="_blank">data</a> from CoinMarketCap. This also provides some relief to those looking to secure profits with this strategy, as there is a high probability that the meme coin could rise to such levels again once it continues its uptrend.&nbsp; 
Meanwhile, although Shiba Inu hasn’t come close to the third and fourth take-profit targets, crypto investors can still expect it to happen at some point based on other crypto analysts’ price predictions. One of these analysts is <a href="https://www.newsbtc.com/news/bitcoin/crypto-expert-bitcoin-500000/#:~:text=Bullish%20Sentiment%20Shows%20Bitcoin%20Can%20Reach%20%24500%2C000&amp;text=On%20the%20road%20to%20%24500%2C000,BTC%20corrects%2020%25%20or%20more." rel="nofollow noopener" target="_blank">Xanrox</a>, who <a href="https://bitcoinist.com/shiba-inu-surge-crypto-shib/#:~:text=Shiba%20Inu%20To%20See%20A%20300%25%20Gain%20Before%20Year%2Dend&amp;text=Looking%20at%20SHIB's%20chart%2C%20the,invest%20in%20the%20crypto%20token.">predicted</a> that Shiba Inu will see a 300% price gain before the year ends. Such a price move will ultimately take Shiba Inu even above those take-profit zones.&nbsp; 
<h2 id="proper-risk-management-for-shiba-inu-investors">Proper Risk Management For Shiba Inu Investors</h2> 
To ensure <a href="https://bitcoinist.com/cftc-reassess-risk-management-big-changes-crypto/">proper risk management</a>, Crypto Noan provided a price level that Shiba Inu investors should consider to exit their positions in case of <a href="https://bitcoinist.com/why-is-shiba-inu-price-down-today/#:~:text=Shiba%20Inu%2014%25%20On%20The%20Weekly%20Chart&amp;text=One%20of%20the%20major%20reasons,a%20cascading%20effect%20on%20altcoins.">significant price declines</a>. The analyst highlighted $0.000022449 as the level at which investors should <a href="https://bitcoinist.com/shiba-inu-transactions-spree/">offload their Shiba Inu holdings</a> and put the meme coin on their watch list in case its price sees a correction.&nbsp; 
The crypto analyst noted on the chart that the $0.000027036 price level is a good buy zone for those yet to invest in the meme coin. For anyone looking for a lower entry point, Xanrox <a href="https://bitcoinist.com/shiba-inu-surge-crypto-shib/#:~:text=Shiba%20Inu%20To%20See%20A%20300%25%20Gain%20Before%20Year%2Dend&amp;text=Looking%20at%20SHIB's%20chart%2C%20the,invest%20in%20the%20crypto%20token.">previously remarked</a> that 0.00002249 looks like a great level to invest in the crypto token. 
At the time of writing, Shiba Inu is trading at around $0.0000257, up over 4% in the last 24 hours according to <a href="https://coinmarketcap.com/currencies/shiba-inu/?update=1714124626235" rel="nofollow noopener" target="_blank">data</a> from CoinMarketCap.&nbsp; 
<img loading="lazy" decoding="async" class="aligncenter size-medium" src="https://www.tradingview.com/x/MvxNuTaC/" alt="Shiba Inu price chart from Tradingview.com (crypto analyst)" width="3286" height="1530">

Crypto Analyst Reveals Play-By-Play Profit-Taking Strategy For Shiba Inu

Table of Contents

Bitcoinist

Other articles published on Apr 26, 2024

$SNUKE Coin Set to Outperform Book of Meme (BOME) and Dogwifhat (WIF) As It’s Pre-Sale Goes Live ...

LRT Protocol Renzo’s Token $REZ to Launch on April 30

Stripe To Accept Crypto Payments In USDC On Solana, Ethereum, Polygon

The Pepe Price Pumps 3% As Investors Turn To This Chain-Traveling Dogecoin Derivative For Parabol...

Bitcoin Accumulating, On Course Of Breaking $74,000 Despite Bear Scare: Analyst

Bitcoin Struggles to Overcome Price Hurdles

Join our free newsletter for daily crypto updates!