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

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.” 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 Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post Trader Issues Warning on Dogecoin Rival Shiba Inu, Says Bearish Momentum To Set In if Major Support Level Breaks appeared first on The Daily Hodl .