SHIB is down close to 6% on Tuesday, reaching a low of $0.00001035 in the indices. It is now on the brink of adding another zero and trading with five zeroes in the charts. Considering that Shiba Inu is now at its lowest price point, can this be the best time to buy the token for swing trading? In this article, we will explain whether the dog-themed token could be the best bet in 30 30-day timeframe.
Shiba Inu: 30 Days Price Prediction For Swing Trading
Before we dive into the price analysis, swing trading is a strategy, especially for short and medium-term investors. They identify a price point using technical analysis and buy and sell the asset when it reaches the target. For example, swing traders buy XRP at $2.40 and lock in the sell option at $3 and jump ship when it reaches there. The usual timeframe dedicated to swing trading is between a day (intraday) and 30 days.
What Would Its Price Be in 30 Days?
Leading on-chain metrics and price prediction firm CoinCodex has given the green signal for Shiba Inu swing trading. According to the price prediction, the dog-themed token could surge by over 18% in the next 30 days. The price target is $0.00001239, so when SHIB reaches near this point, it’s best to sell it.
Therefore, an investment of $1,000 could turn into $1,180, according to the 30-day price prediction. In conclusion, swing trading in Shiba Inu could be profitable as the price is projected to surge. Similarly, Watcher Guru previously provided a swing trading option with Ripple’s XRP, and it turned out to be accurate.
Shiba Inu is down 51% year-to-date and is now at its lowest point, with better options for swing trading. SHIB usually bounces back after a drastic fall, rewarding investors who hold on to it with patience.