- Crypto trader Rafaela Rigo recently increased her SHIB holdings following a market dip.
- Rigo remains confident in her prediction that SHIB is primed for a price surge.
- Her analysis from May continues to hold true, indicating bullish trends for SHIB.
Top crypto trader Rafaela Rigo purchases more Shiba Inu (SHIB) tokens, anticipating a robust market rally based on technical analysis.
Rafaela Rigo’s Continued Confidence in SHIB
Rafaela Rigo, a prominent figure in the cryptocurrency trading community, has announced her ongoing acquisition of Shiba Inu (SHIB) tokens. Leveraging technical indicators, Rigo believes the memecoin is on the verge of a significant price increase. She references her earlier analysis, reinforcing her belief in SHIB’s potential.
The Technical Setup: A Historical Perspective
On March 31, Rigo shared a detailed SHIB/USD monthly chart, showcasing how SHIB’s bearish trend was weakening. The chart indicated that SHIB had reached a support level, suggesting a potential bullish reversal. This classic bullish candle pattern hinted at a strong upward momentum building within the SHIB market.
SHIB’s Price Movement: A Closer Look
Despite Rigo’s initial optimism, SHIB experienced a price pullback, dropping from $0.000026 to $0.000022. This retracement aligned with her previous analysis, which identified this price range as a critical support region. Such pullbacks are often viewed by seasoned traders as strategic entry points for accumulating more tokens at lower prices.
Trader Psychology: Maximizing Opportunities
Experienced crypto traders like Rigo typically see market pullbacks as opportunities to bolster their token holdings. Confident in their technical predictions, they purchase more tokens at lower prices, anticipating higher future profits. Rigo’s recent activity reflects this approach, as she capitalizes on the current market conditions to increase her SHIB inventory.
SHIB’s Performance and Future Expectations
Between February and March, SHIB saw an impressive 378% increase after a prolonged period of stagnant price movement. Despite a subsequent 60% decline driven by market pressures, Rigo maintains a positive outlook. The retracement brought SHIB near the 0.618 Fibonacci level, a crucial point that often signifies a potential reversal in technical analysis.
Projected Price Targets for SHIB
According to Rigo, if SHIB regains its bullish momentum, it could target the $0.00004988 region, revisiting its 2024 highs. Success in this area could pave the way for further price increases, potentially allowing SHIB to approach its previous all-time high of $0.0009. This optimistic forecast underscores Rigo’s confidence in SHIB’s long-term potential.
Conclusion
Rafaela Rigo’s recent investments in SHIB underscore her confidence in the memecoin’s future performance. Her well-founded technical analysis continues to suggest a bullish trend, positioning SHIB for a potential rally to new heights. Crypto traders and enthusiasts will be keenly watching SHIB’s movements, ready to capitalize on emerging opportunities in this dynamic market.
