Famous crypto educator Rafaela Rigo reveals buying Shiba Inu dip, anticipating a rally that drives SHIB to $0.00004988.
Shiba Inu has not escaped the recent onslaught from the market bears. As of Monday, Shiba Inu was already trading in the red, but the trend worsened overnight, with SHIB crashing to $0.00002218. As of now, Shiba Inu has not shown signs of recovery, as it still trades around its intraday low.
Analyst Confirms Buying Shiba Inu Dip
Notably, prominent market observers view the recent downturn as a favorable Shiba Inu buying opportunity. Rafaela Rigo, a well-known crypto educator, is among the market analysts purchasing the Shiba Inu dip.
In a post on X, Rigo revealed that she has committed more funds to buy additional SHIB tokens, adding to the dip she previously bought. This post updates one from 11 days ago when the analyst projected an incoming 130% rally for Shiba Inu amid its prolonged downtrend.
At that time, Shiba Inu showed signs of a comeback, trading in the $0.000026 range. However, this trend did not last, and SHIB has since retraced by about 15%. Despite this, the crypto educator continues to see these retracements as buying opportunities.
According to the accompanying chart, the analyst eagerly awaits a comeback that drives SHIB to $0.00004988. Other prominent market analysts share Rigo’s sentiment.
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Bought more $SHIB
. https://t.co/9Zi7kLIiqx— ⭐RᗩᖴᗩEᒪᗩ 𝗥𝗜𝗚𝗢 ⭐ (@RAFAELA_RIGO_) June 10, 2024
Community Analyst Confirms SHIB in Buy Zone
In a post today, Shiba Inu community analyst SHIB Knight weighed in on the recent market downturn. He noted that while Bitcoin dipping below $68K might appear significant in the short term, it is just typical market activity on the weekly chart.
SHIB Knight added that Bitcoin might drop to $63K, which he considers a retest of the bullish breakout. From there, he expects new all-time highs (ATHs).
Notably, a retest of $63K for Bitcoin would significantly impact altcoins like Shiba Inu. Consequently, SHIB Knight emphasized in an earlier update that Shiba Inu is in a buying zone based on technical formation on the weekly chart.
He stressed that those looking to capitalize on the bull season with SHIB should view prices between $0.00001859 and $0.00002322 as an accumulation zone before an aggressive breakout. SHIB Knight anticipates an ATH of $0.0001 for Shiba Inu this month.
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