SHIBUSDT BUY | S6T2 - Team Trading Post for Fredquantum-Kouba01 Traders Team.
The Name and Introduction Of The Project Token, And Which Exchange It Can Be Traded On, Project/team/technical background
Shiba Inu is a decentralized memecoin which was created in the month of August, 2020 by an anonymous fellow named Ryoshi. This memecoin was created to serve as an alternative to the popular Dogecoin. This coin was initially created in abundance with a total supply of one quadrillion. This is to say that this coin was intentionally created to be in abundance and not be scarce as compared to some coin like Bitcoin which was created to be scarce.
Shiba Inu was created to be Ethereum-compatible and because of that, it is compatible with some of the Ethereum wallets like coinbase wallet which is readily available in most decentralized exchanges.
Shiba Inu coin has in its few years of existence been vastly accepted by so many people. Infact, Paris Bistro, a restaurant in Paris, last year opened up to accept Shiba Inu as means of payment. This is because of the great prospect they believe this coin has.
As at the time of writing this post, Shiba Inu was trading at $0.00002591 with a circulating supply of 549,063.28 Billion Shib and a market cap of $14,227,774,513. It has a 24h trading volume of $1,430,940,244 and it is ranked #14 in the coin market.
Exchanges Shiba Inu Can be Traded
Shiba Inu coin can be traded in so many exchanges of which some of them are Binance, Coinbase, Kraken, KuCoin, Huobi Global etc.
Why I am Optimistic About This Token Today, And How Long Do You Think It Can Rise.
From the fundamental point of view, Shiba Inu coin has been into some partnering with some companies lately and that is an indication that the coin will attract more investors in few months and that might make the coin to experience some spike in price.
Buying the coin today, I intend to HODL it till the end of the year. Before on or before then, I am optimistic that the coin will attend an all time high.
Technical Analysis and Place a Real Trade of Shiba Inu
I performed the trade from the perspective of price action since I love price action trading. But I also added two TEMA indicators (the fast TEMA having a period of 9 and the slow TEMA having a period of 25) to the chart for a more concrete confirmation.
I noticed that price was making some swing lows. I waited for it to respect my support level which it did. I then noticed that the fast TEMA was about to cross above the slow TEMA which indicates that a bullish candle will be formed. I then executed my trade in the following order;
Buy Entry Price = $0.00002590
Timeframe = 15 minutes
Amount Used = 12.79724180 USDT.
Amount Filled = 494,102 SHIB
Fee = 494.10000000SHIB
Sell Entry Price = 0.00002603
Amount Used = 493607 SHIB
Fee = 0.01284365 USDT
Amount Filled = 12.84365414 USDT
Profit Made = +0.04641
Recommendation
Shiba Inu is a coin which I am optimistic that in the near future, it will be used by some ETH- based Defi apps for the purpose of lending and borrowing and also will play a great role in some Ethereum NFT market places. Therefore I recommend it for everyone to buy and HODL it.
Thanks for having me.
All screenshots were taken from Coinmarketcap , Tradingview and Binance
