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HomeCrypto NewsMarketVeteran Futures Trader Peter Brandt Makes Further Market Analysis for Shiba Inu (SHIB) 

Veteran Futures Trader Peter Brandt Makes Further Market Analysis for Shiba Inu (SHIB) 


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Brandt believes Shiba Inu will dip drastically if its price drops below July lows.  

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Veteran futures trader Peter Brandt has shared another chart for Shiba Inu (SHIB) coin for the second time this month. This time, the legendary trader suggests that the price of the meme-based cryptocurrency may plunge massively if it drops below its July lows of less than $0.00001.  

“Hey @jonbking check this chart out. A decline below July lows would not be pretty,” the veteran futures trader said. However, Brandt added that a surge in SHIB’s price above the level would “confirm the inverse.” Brandt noted that the head-and-shoulder pattern is absentia. 

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Brandt’s Recent Interest in Shiba Inu

Brandt’s recent interest in Shiba Inu may come as a surprise to many given that he usually focuses on Bitcoin, the world’s largest cryptocurrency by market capitalization. 

As reported by TheCryptoBasic this week, Brandt stated that Shiba Inu would need to hold above its neckline support of 0.00001310, which indicates a buy signal. 

However, if the trend line is violated, Brandt said investors may have to sell the crypto asset to shield themselves from incurring significant losses. 

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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.



Lele Jima
Lele Jima
Lele Jima is a cryptocurrency enthusiast and journalist who is focused on educating people about how the nascent asset class is transforming the world. Aside from cryptocurrency-related activities, Jima is a lover of sports and music.

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