Expert Trader Shares Simple Shiba Inu Trading Plan

Prominent crypto trader “Prof Noan” has outlined simple strategies Shiba Inu enthusiasts can adopt to trade SHIB as the market recovers significantly from the clutch of the bears.

Shiba Inu has successfully remedied most of the losses incurred this month during the severe pullbacks. At press time, SHIB trades at $0.00002723, reflecting a 21.38% gain in its seven-day performance. 

Meanwhile, this price point marks a substantial 47% gain from SHIB’s bottom on April 13. Now, Shiba Inu maintains only a 1.56% loss in its 30-day trajectory despite the shocking collapse to $0.00001853 earlier.

Amid this commendable comeback, crypto trader Noan took to X to issue simple risk management plans for Shiba Inu investors. Specifically, the trader pinpointed profit-taking targets SHIB holders can look out for to realize gains in the bull market and minimize the risk of regrets when the bears re-emerge.

“Trade with risk management,” Noan counseled.

#shib $shib simple plan

Trade with risk management pic.twitter.com/s2dma3gdJj

— Prof.Noan.Ai 𓃵 (@CryptoNoan) April 23, 2024

4 Recommended Profit Targets for Shiba Inu

In the accompanying chart, Noan specified four profit-taking price points for Shiba Inu investors. First, the trader outlined those who failed to buy Shiba Inu’s dip at $0.00001853 may still have a good chance to profit by entering the SHIB market at its current price. He considers the $0.000027 range a favorable buying zone.

For risk-averse investors, Noan pinpointed $0.00002818 as the earliest exit point of profit-taking. This would mark a mere 4.37% gain from the $0.000027 entry. Meanwhile, the trader’s next recommended exit point is after Shiba Inu soars by 21.51% to $0.00003281.

The third profit target is when SHIB moves close to breaching the $0.00004 threshold. Specifically, Noan suggested that SHIB holders may profit from their trades at $0.00003903. However, more confident investors may wait until SHIB hits $0.00004360 before profiting from the market.

At this channel, Shiba Inu must have advanced by 61.5%, which would return the asset to the yearly peak it reclaimed in early March. While Noan noted Shiba Inu’s potential to sustain the anticipated uptrend, he believes the outlined target aligns with proper risk management tactics.

Bearish Exist Point for SHIB

On the other hand, the trader identified bearish channels in which SHIB investors may choose to flee the market. According to the chart, should SHIB retrace to around $0.00002244, enthusiasts should close the trade and place Shiba Inu on their watch list.

Despite his renown, it is important to note that Crypto Noan’s analysis is not foolproof, and investors should be cautious in the market. Those looking to enter any trade must conduct proper research and not construe their analysis as investment advice.