Shiba Inu Investors Target New Bitcoin ICO, Aiming for 100x Returns
As Shiba Inu (SHIB) consolidates within the confines of a multi-month pennant structure and risks a downside breakout, investors are instead targeting an exciting new Bitcoin ICO called 99Bitcoins (99BTC), as they aim for potential 100x returns.
Legendary GameStop retail investor Roaring Kitty’s return to social media may have ignited sentiment amongst meme stock names but has failed to result in a lasting uptick in sentiment amongst the major meme coins like Shiba Inu.
Last just under $0.000023, SHIB continues to hold above its 100DMA. However, the price continues to be squeezed by the 50DMA.
Indeed, Shiba Inu has formed a pennant structure in recent months and a breakout appears imminent.
Pennant structures can break out in either direction. Should Shiba Inu break to the upside, an imminent move back above $0.000030 could be expected.
Conversely, should Shiba Inu break to the downside, a swift drop back to $0.000018 support is likely.
Macro catalysts will be in on Wednesday, with US CPI and Retail Sales data out.
Depending on how this data impacts Fed rate cut expectations, it could be either bullish or bearish for the market.
This could be the catalyst for Shiba Inu to break its current pennant pattern.
As SHIB threatens a downside break, it’s no surprise that investors are targeting alternative investments that could offer better returns.
One crypto that is getting the team at Cryptonews very excited is new Bitcoin ICO 99Bitcoins (99BTC).
99Bitcoins is a well-established crypto education platform that has been around now for nearly a decade.
99Bitcoins’ YouTube channel has over 700,000 subscribers and its platform has over 100,000 students enrolled.
Already a household name in the crypto education space, 99Bitcoins is taking the
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