Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnSquareMore
Trader Issues Warning on Dogecoin Rival Shiba Inu, Says Bearish Momentum To Set In if Major Support Level Breaks

Trader Issues Warning on Dogecoin Rival Shiba Inu, Says Bearish Momentum To Set In if Major Support Level Breaks

Daily HodlDaily Hodl2025/01/02 16:00
By:by Daily Hodl Staff

A popular crypto analyst says that meme asset Dogecoin ( DOGE ) rival Shiba Inu ( SHIB ) must hold a certain support level to not come crashing down.

In a new video, crypto trader Ali Martinez  tells his 106,500 followers on the social media platform X that the $0.0000193-$0.0000215 range is a must-hold for Shiba Inu.

According to Martinez, a breaking of these levels would be bearish for the dog-themed memecoin.

SHIB is trading for $0.00002255 at time of writing, up 6.5% in the last 24 hours.

Moving on to Bitcoin ( BTC ), the trader says BTC must avoid falling below $90,000 to avoid falling even further.

“If Bitcoin BTC falls below $88,000, the next major support level lies at $71,000, according to the MVRV Pricing Bands.”

Trader Issues Warning on Dogecoin Rival Shiba Inu, Says Bearish Momentum To Set In if Major Support Level Breaks image 0 Source: Ali Martinez/X

Earlier this week, Martinez said that meme asset Dogecoin could surge by quadruple digits percentage-wise for one key reason – that if DOGE follows a historic price pattern, the memecoin could surge to $17.76.

“Dogecoin could rally by another 6,770% if it continues to follow the ascending parallel channel pattern!”

An ascending parallel channel pattern is a bullish structure indicating that an asset is in an uptrend, printing higher highs and higher lows.

DOGE, the Shiba Inu rival, is up 6% in the last 24 hours.

Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Follow us on X , Facebook and Telegram

Surf The Daily Hodl Mix

Generated Image: Midjourney

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

Boxing champion Andrew Tate's "Going to Zero": How did he lose $720,000 on Hyperliquid?

Andrew Tate hardly engages in risk management and tends to re-enter losing trades with higher leverage.

ForesightNews 速递2025/11/22 17:53
Boxing champion Andrew Tate's "Going to Zero": How did he lose $720,000 on Hyperliquid?

New Beginnings in the Darkest Hour: Is the Dawn of Bitcoin in 2026 Already Visible?

Risk assets are expected to perform strongly in 2026, and bitcoin is likely to strengthen as well.

Chaincatcher2025/11/22 17:30
New Beginnings in the Darkest Hour: Is the Dawn of Bitcoin in 2026 Already Visible?

Ethereum at a Crossroads: Quantum Threat Approaches, Wall Street Capital Exerts Dual Pressure

This battle between technology and human nature will determine whether Ethereum ultimately becomes the fintech backend for Wall Street or serves as the public infrastructure for digital civilization.

Chaincatcher2025/11/22 17:30
Ethereum at a Crossroads: Quantum Threat Approaches, Wall Street Capital Exerts Dual Pressure