Known for his accurate Bitcoin predictions, Peter Brandt shared his predictions for the popular meme coin Shiba Inu (SHIB). The seasoned analyst says he is not worried about missing the breakout in SHIB’s price.
Peter Brandt not worried about missing the Shiba Inu price breakout
Legendary chartist Peter Brandt discusses the popular meme coin Shiba Inu (SHIB) in a recent tweet. The analyst claims that SHIB will not worry about missing the price breakout. A Twitter follower said he believes SHIB is apparently on the verge of a major price rally. So, he urged Brandt to pay more attention to the popular meme coin. The analyst’s assessment also came on this request.
However, the chartist noted that people chasing breakouts often go out for fear of missing out (FOMO). According to Brandt, such a habit is destined to have potentially devastating consequences for a trader.
At press time, SHIB is trading at $0.00001107, according to CoinMarketCap data. The price of the popular meme coin remained unchanged on a daily basis. As you follow on Kriptokoin.com, the meme coin had a massive rally in mid-August. During this rally, it gained more than 42% in one day on August 14. However, the fever of the rally did not last long and ended shortly after. Moreover, the dog-themed Shiba Inu has returned all its gains by the end of the month.
Meanwhile, the Shiba Inu (SHIB) closed September in the red, down 6.53%. However, there is an important event for the popular meme token on October 6. The worldwide launch of the Shiba Eternity game is approaching. Analysts expect this event to be a major bull catalyst for the token.
Is there any chance of Bitcoin falling to $8,000?
Peter Brandt also conducted a Twitter poll to find out what his followers think about Bitcoin’s price performance recently. More than 41% of respondents believe that Bitcoin will drop to $12,000 before another bull market begins. About 20% of them believe that Bitcoin could drop as low as $8,000, which is the goal of Guggenheim’s Scott Minerd. About 30% of respondents believe the low was established at $17,600 in June.
The leading crypto Bitcoin was trading at $19,212, down 0.38% on a daily basis at press time. BTC struggles to break above the key $20,000 level. However, as it fails to do so, analysts are making further bearish predictions. Peter Brandt’s survey result largely reflects this.
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