Debate Revives Over Shiba Inu's Extreme Gains
- Investment Returns Spark Debate: Blockchain analytics platform Reflection shared a chart showing a $169 investment in Shiba Inu skyrocketing to over $5 billion, although data indicates the token did not experience a major rally until 2021, raising questions about the authenticity of these returns.
- Early Investors Made Fortunes: Launched in August 2020, Shiba Inu allowed early buyers to accumulate large amounts at minimal cost, with demand surging in 2021 due to major exchange listings and Ethereum co-founder Vitalik Buterin burning 41% of the supply, leading to millions of percent gains during that cycle.
- Success Stories Shape Narrative: Reports highlighted a truck driver turning a $650 investment into $1.7 million, and two brothers who invested $7,900 earning about $9 million, which continue to influence perceptions of altcoin wealth creation.
- Changing Market Conditions: Despite significant historical gains, Shiba Inu currently trades around $0.000005895, approximately 93.34% below its all-time high, with supporters arguing for a potential revival of another altcoin cycle, while critics point to its large valuation and fading momentum.
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Technical Analysis for ETH
Technical Sentiment Analysis for Ethereum (ETH). As of , Ethereum (ETH) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 7 technical signals, shows that 3 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for ETH stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, ETH is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Ethereum (ETH) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 1763.196 | 1890.118 | 2020.026 | 2146.948 | 2276.856 | 2403.778 | 2533.686 |
| Fibonacci | 1890.118 | 1988.227 | 2048.839 | 2146.948 | 2245.057 | 2305.669 | 2403.778 |
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