thecryptobasic.com
Bitcoin investor Oscar Ramos has declared his willingness to capitalize on the recent dip in Shiba Inu value to bag more tokens at the new discount prices.
Over the weekend, Shiba Inu’s price sank into the $0.000018 range after maintaining higher levels in the past 30 days. Specifically, on Saturday, SHIB witnessed a low of $0.00001853, tanking by over 25% from the intraday high of $0.00002492.
The dramatic crash was influenced by Bitcoin retesting the $60,000 range, which dragged the broader crypto market into the mud amid global escalating conflicts. While Shiba Inu took a significant hit, causing the asset to re-enter the $0.000018 range, SHIB continues to trade at highs last seen about two years ago.
Buying Shiba Inu Dip
Meanwhile, notable crypto community figures like Oscar Ramos see the recent market dip as a compelling buying opportunity. Taking to X, Ramos revealed his intention not to pass up on the current low prices.
He outlined seven cryptocurrencies he plans to capitalize on during this dip, with Shiba Inu leading the pack.
not letting these prices go away without a buy 👇🩸$SHIB$CRO$BRETT$BTC$JASMY$SOL$XRP
— Oscar Ramos (@realOscarRamos1) April 14, 2024
Other assets Ramos has disclosed buying include Bitcoin, XRP, Solana, CRO, BRETT, and JASMY.
Shiba Inu On Track for Comeback
Notably, the investor’s declaration underscores his robust confidence in SHIB’s ability to pull a notable comeback. Remarkably, Shiba Inu has staged a notable recovery from the drop to $0.00001853.
At press time, SHIB changes hands at $0.00002312. This price point marks a significant 24.77% gain from the bottom price two days ago.
Besides, market analysts such as Maximilian on TradingView have put forward the argument that Shiba Inu could soon reclaim the $0.000031 price threshold following the recent bearish trend.
One of the factors bolstering this optimistic prediction is the observed stability in Shiba Inu whale and shark holdings. While Maximilian cited the stability of SHIB price around $0.00002783, the factor has failed to hold as Shiba Inu bears later took over.
Nonetheless, the analyst’s anticipation of a potential rally to $0.000031 was also supported by a consistent rise in volume. However, this factor has also faltered as SHIB has experienced a significant 35% decline in its 24-hour trading volume.
Yet, with Shiba Inu’s recent recovery, enthusiasts maintain the conviction that SHIB can surprise the crypto market with a 300% rally in one day, potentially sending the asset beyond the $0.00003 channel.