Benzinga – Veteran pseudonymous crypto trader Altcoin Sherpa views the Shiba Inu chart as “high-frequency trading” and advises traders to exercise patience.
What Happened: In a March 31 tweet thread on meme coins, Sherpa lists the pros and cons of trading the “Dogecoin Killer.” Although he does not expect “a 20xer” on this meme coin, he sees some pros:
Pros:
- Like Dogecoin (CRYPTO: DOGE), it boasts huge liquidity.
- The token has fundamental developments like Shibarium and burns.
- It may “have some moments” flipping Dogecoin.
On the flip side, Altcoin Sherpa thinks the upside of Shiba Inu is capped.
Cons:
- Not expected to achieve a 20x return at this point.
- Likely to take a backseat to Doge overall in terms of Ethereum memes
He concludes that the technical chart still looks like “high trading…
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