Avoided the choppy correction. Now back as it seems to be moving out of consolidation and making another run, indicated by the increase in volume and the price action moving back into an uptrend.
This may be short-lived but the potential gain considering the volatility could be substantial.
As I referenced in my idea yesterday, SHIB is much hotter than DOGE right now, so if it moves higher, DOGE holders will be more and more inclined to swap for SHIB. This would lead to a squeeze up in the price of SHIB and a continued drop in the price of DOGE if this inverse trend is maintained between both.
This may be short-lived but the potential gain considering the volatility could be substantial.
As I referenced in my idea yesterday, SHIB is much hotter than DOGE right now, so if it moves higher, DOGE holders will be more and more inclined to swap for SHIB. This would lead to a squeeze up in the price of SHIB and a continued drop in the price of DOGE if this inverse trend is maintained between both.
Note
Note
This is a possible outcome as the price action evolves here. Having psychological stops around the 7000 range to minimize losses if it turns against meNote
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.