On Thursday (November 11), a day when 43 of the top 50 cryptoassets (by market cap) are in the red (suffering losses vs USD), highly popular dog meme-based cryptocurrency Shiba Inu ($SHIB) is bucking the trend by going up nearly 8% in the past 24 hours. In fact, $SHIB is one of only three cryptoassets among this group that has gone up today.
According to data by TradingView, today, on crypto exchange FTX, $SHIB got as high as $0.00005780 at 13:17 UTC. Currently (as of 13:45 UTC), $SHIB is trading at $0.00005609, up 7.78% in the past 24-hour period.
As for the past three-month period, $SHIB has gone up 601%.
And if you think that number is impressive, it should be pointed out that $SHIB’s return on investment (ROI) vs USD for the year-to-date (YTD) period is an insane +72,844,055%.
Popular pseudonymous crypto analyst and influencer “Altcoin Sherpa” told his over 146K Twitter followers that he can see $SHIB getting to at least $0.000062 in the short term.
$SHIB: 4h 200 EMA acting as support, expecting this to at least get to $.00006200ish in the short term. Probably will continue to cool though given the insane moves it had before. pic.twitter.com/H0cvbptZeg
— Altcoin Sherpa (@AltcoinSherpa) November 11, 2021
Crypto analyst Ali Martinez is even more bullish, believing that we could be on the verge of a $SHIB breakout to the upside and that if the $0.000062 resistance level is broken, $SHIB could go all the way to $0.000178.
#ShibaInu ready to break out! ??
Wait for a decisive move above $0.000055 for $SHIB to jump to $0.000061. If #SHIB also breaches this resistance level, then expect fireworks. pic.twitter.com/GFKW0X9e3J
— Ali Martinez (@ali_charts) November 11, 2021
#ShibaInu could moon! ??$SHIB appears to be breaking out a bull flag pattern.
The most significant hurdle ahead sits at $0.000062. If #SHIB can breach this resistance level, it might target $0.000092 or $0.000178. pic.twitter.com/uiBczxp2oc
— Ali Martinez (@ali_charts) November 11, 2021
The hosts of YouTube channel “Altcoin Daily” tweeted on Tuesday (November 9) that just 10 wallets are holding 72% of the total $SHIB supply.
10 Wallets Hold 72% Of Total $SHIB Supply.
— Altcoin Daily (@AltcoinDailyio) November 9, 2021
And finally, CryptoDiffer tweeted on the same day to say that as of November 9, $SHIB was the top altcoin by social volume.
