Is Shiba Inu a good bet in December 2021?
There has been a-lot of volatility with Doge & Shiba. Some have made millions. But is it a good bet going forward & what is the charts telling us?
I have done some SHIBA mining did buy around $10 of SHIBA a few months ago. That $10 is now worth $256. If only I could travel back in time and put in $1000. 🤪. Would be nice to be this guy…
I had some fun setting up mining on AWS and writing this article. Not recommended, but fun reading if you want to get some knowledge on mining and have access to AWS.
I do prefer coins with good fundamentals and a strong developer community, but SHIBA does continue to confound us all. Its hard to believe those that are saying SHIBA will get to 1 cent any time soon. Hard to find anything to back it up, besides a-lot of hype.
So, if you still want in, according to the logarithmic graph, it may not be a bad time in a few days to get in. Its currently sitting at 0.00005. I have tried to be a little pessimistic below (don’t hate me SHIBA ARMY…), and assumes no further major announcements come their way.
If the bull cycle which has just started continues, then my best guess is you could 3x your money as it goes to 0.00045. On trading view, I changed to a log graph and put in parallel trend.
With no big fundamentals, it relies on market sentiment, so a bit of a gamble and many alt coins can offer better returns in the long term. Saying that, innovations like Shiba Swap have been positive and rumours of a robin hood listing can change the landscape significantly.
So, if you are up for the risk, then we should hit the bottom of the channel in the next week and it could be a good purchase time. Remember, do not buy when its increasing and find the dip, before you buy 😳
The Shiba Army does seem to be strong though, so watch out for announcements and let’s see how Doge goes.
Just a very casual observation, but when doge is up, shiba is down and visa versa.
Conclusion
I will stick with what I have for now, just in case a miracle happens and it ever does get to the $1 in the next 5 years. My heart can’t take the sudden drops, when they do happen.
In conclusion, Shiba is a gamble, some would call it a scam. But, for now, does continue to confound most investors, so I may well come back to bite my words….
Please note, above is my opinion based on the charts only. Do your own research before investing and make sure you invest money you are OK to loose if it all goes pear shaped.