Expert Identifies SHIB Buying Zone Post-Hack; WIF Meme Coin Tests Crucial $2.50 Level Amid Bitcoin Influence
Crypto analyst Altcoin Sherpa shared insights on Shiba Inu (SHIB) and dogwifhat (WIF) tokens, addressing market challenges and opportunities. The analyst highlighted SHIB’s recent hack and suggested potential buying ranges amid the uncertainty.
Additionally, Altcoin Sherpa provided key price levels for WIF, emphasizing the importance of the $2.50 threshold. These observations come as both tokens see price movements, with SHIB facing a decline and WIF showing strong gains.
What you'll learn 👉
Shiba Inu Faces Hack Fallout
Altcoin Sherpa addressed the recent hack affecting Shiba Inu, expressing hope for preventive measures against token selling. The analyst stated,
“real shame w. the hack, hope they figure out some way to prevent the selling somewhere.” This comment highlights the community’s concern over potential market impacts.
Despite the current uncertainty, Altcoin Sherpa suggested a potential buying opportunity for SHIB. The analyst recommended considering entries within the “old trading range of 700-1200” if sell-offs occur. This advice provides investors with a strategic approach amid market volatility.
According to CoinGecko data, SHIB trades at $0.00001742. The token has had a 9.98% dip over the last day but showed a 4.77% rise over the past week. This price action reflects the market’s reaction to recent events.
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WIF Price Analysis
Turning attention to dogwifhat (WIF), Altcoin Sherpa highlighted the significance of the $2.50 level.
The analyst suggests that if WIF’s price falls below this threshold, it may enter a trading range between $2.40 and $3.00. This observation highlights the potential volatility within this price bracket.
CoinGecko data reveals WIF’s price at $2.44, with a substantial 13.11% increase in 24 hours. The token also boasts a 46.07% gain over the past week. These figures demonstrate WIF’s strong performance in the current market.
Bitcoin’s Influence on WIF
Altcoin Sherpa emphasized Bitcoin’s role in WIF’s trajectory, stating, “I think this goes higher as long as btc plays nice.” This comment highlights the interconnectedness of crypto markets and Bitcoin’s influence on altcoin performance.
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