Shiba Inu Price Prediction November 15, 2021 According to Scott Melker
Rancakmedia.com – Shiba inu price prediction today 15 november 2021 according to Crypto Expert and trader Scott Melker claims the Shiba Inu meme currency (SHIB) is poised to rally to all-time highs and expect an epic rally for XRP.
An analyst just told his 110,000 YouTube followers that Shiba Inu (SHIBA) is bullish after taking on the diagonal resistance that has kept rival Dogecoin (DOGE) bearish over the last few weeks. Scott Melker had this to say in a new strategy session.
“I bought it because it broke the chart and I believe it will probably return to highs, this token has a lot of activity. We observed this four-hour candle was the biggest in recent days, breaking out. I like it. My go-to here ($0.000089),” said Scott Melker.
At time of writing, SHIB is trading at $0.000053. The Crypto strategist is also keeping an eye on the open-source digital currency XRP, which he claims has also removed diagonal resistance and is testing it again as support.
According to Scott Melker's chart, XRP is poised to rally to $1.96, reflecting a more than 64 percent chance of an upside from the current value of $1.19. As for Bitcoin, Melker said the top cryptocurrency appears bearish as the relative strength indicator (RSI), which measures an asset's momentum, is showing signs of weakness.
“It's feeling a bit toppy in here. That's right, we have a bearish divergence. Bearish divergence on the daily [chart]. That generally happens, especially when coming out of overbought," he added. Previously, according to on-chain statistics, 72 percent of Shiba Inu wallet addresses were reported to have made profits at a token price of IDR 0.7619.
Moreover, it is reported that only 17 percent of Shiba Inu holders did not benefit from their initial purchase of crypto assets. They are most likely the investors who bought the Shiba Inu overdue when its value plunged from its recent all-time high.
Most novice investors are interested in buying cheap and having the opportunity to profit when the value rises again. The data reveals that the concentration of HODLers is close to 78 percent. However, Shiba Inu barons have been criticized for their strong effect on changes in token prices.
The high number of profitable wallet addresses stems from the growing popularity of the Shiba Inu over the last few months. In particular, the prospect of high profits from this crypto asset has also succeeded in bringing in more HODLers.
For example, between October 10 and November 8, 2021, the number of Shiba Inu holders grew 31 percent, from 706,808 to 926,684, for an overtime 111 percent gain. The Shiba Inu token has gained more users due to factors such as the low price per coin, making it easy to get involved, unlike other expensive assets like Bitcoin.
At the time of writing the shiba inu price predictions had risen by about 4 percent in the previous 24 hours, a weekly increase of 6 percent. But SHIB has witnessed high volatility before, removing 7.26 billion USD from its total market value between November 4th and November 10th.
The volatility was largely due to the cukong making 4 transfers of 10 trillion SHIB tokens to four separate wallets. At that time, one transaction turned out to be worth 586 million dollars or approximately Rp. 8.3 trillion.