Legendary chartist Peter Brandt recently responded to a question regarding Shiba Inus by asserting that he wouldn’t be concerned about missing a price breakout.
A Twitter user asked Peter Brandt to focus more on the well-known joke coin because they thought the token was about to have a significant price increase. But the chartist pointed out that those who chase breakouts typically give up because of fear of mission failure (FOMO).
A trader might suffer from such a behavior, according to Brandt. On the Binance platform, the SHIB coin is currently being traded for 0.000011 USD. The token has lost value after falling by about 0.27%.
Midway through August, the meme token saw a significant upswing, rising more than 42% in a single day on August 14. However, the uptick turned out to be a brief phenomenon, and by the end of the month, the cryptocurrency had completely reversed all of its gains.
SHIB also had a decline in September, falling by 6.53%.
On the other hand, Oct. 6’s worldwide release of the Shiba Eternity game is anticipated to be a significant bullish stimulus for the coin.
Might Bitcoin fall to $8,000? – Peter Brandt
Additionally, Brandt recently polled his Twitter followers on their opinions about Bitcoin’s price movement. Over 41% of those surveyed think that Bitcoin will drop to $12,000 before a new bull market starts.
Nearly 20% of them think Bitcoin might fall as low as $8,000, which is Scott Minerd of the Guggenheim’s target price.
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