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Price Prediction: Shiba Inu on the Edge of a 66% Drop and HUH Token Set to Surge 57% – Vanguard

Shiba Inu is teetering on the edge of a 66% downfall unless the bulls can help bring the price above its long-term downtrend line. Meanwhile, HUH Token is set for a 57% upswing to retest its all-time high.
Shiba Inu (SHIB)
Shiba Inu is at a crucial crossroads that will define its long-term future. Currently cornered between its long-term downtrend line and its major support floor, SHIB now needs its bulls to push the price above its blue downtrend line or it faces a 66% drop from current levels.
Shiba Inu has already lost over 60% of its value since hitting its all-time high on October 26 and bulls have continuously failed to reclaim support levels with their last stand now at $0.00002911. The showdown between the bulls and bears will result in wild swings but SHIB must close above the blue downtrend line on a daily chart to confirm any sort of trend reversal and save the pup from what may be the beginning of the end.
SHIB Daily Chart According to TradingView
The meme coin has struggled to demonstrate any sort of intrinsic or fundamental value to investors who may be scratching their heads at how pure hype was responsible for one of the biggest crypto success stories of 2021.
Compared to pioneering cryptos like Cardano, Solana and Ethereum, Shiba Inu fails to bring anything to the table other than humour and a cute logo.
The SHIB army may have you believe that the price is gearing up for a breakthrough and a potential surge to retest the resistance level at $0.00004837, which may be possible, but even then, the canine themed spin off is facing serious downside pressure and a potential bull trap as locked in buyers sell to break even from the huge fall since October.
Looking at the long-term relative strength index and stochastics spells bad news for the SHIB army as the RSI has failed to break its lower band and enter the buy zone. Another bad omen is the continued decrease in trading volume with SHIB loosing over 80% trading volume since November. Perhaps the hype is well and truly over.
However, if the self-titled “SHIB army” can rally and break the long-term downtrend on a daily chart but then also push the price higher above the first major resistance at $0.00004837, perhaps the meme token could build a base off which to build and the bearish outlook outlined above would be invalidated.
HUH Token (HUH)
HUH Token looks to continue its uptrend after its explosive launch on December 6. HUH bounced off of the $0.0001000 support level confirming the uptrend. Since then, the price increased and is currently trading in a narrow band between $0.0002000 and $0.00016010.
Bulls will be looking to buy-in close to the blue upward trend line. If the price bounces off this line, it could trigger a 57% rally to test the all-time highs at $0.0002723.
HUH 4-Hour Chart according to TradingView
HUH’s moving average has surpassed its price, indicating an imminent upward correction. Additionally, the stochastics at the bottom of the chart have both moved below their lower bands and into the buy zone.
If HUH’s price can break above its all-time high, the next target would be the 23.6% and 38.2% Fibonacci extension levels.
However, HUH falls below the blue upward trend line, holders can anticipate a dip to the next support level at $0.0001395, invalidating the bullish prediction.
HUH Token soared over 4000% in its first week of trading, breaking into the top 20 on PancakeSwap and has accumulated over 12,000 holders already.
The global cryptocurrency market has been under increased selling pressure over the last month, losing nearly $1 trillion since November. HUH Token, has so far been able to avoid the majority of this selling pressure.
The broader cryptocurrency market, on the other hand, appears to be preparing for a rebound as increasingly positive news from US policymakers emerges and Bitcoin and Ethereum teeter on key support levels.
According to Robert Courtneidge, Locke Lord lawyer and co-founder of the Prepaid International Forum, “cryptocurrencies will be a critical part of our society’s future and regulation will soon become a part of the cryptosphere”.
Learn More About HUH Token Here:
Website: https://huh.social
HUH Official Swap- https://swap.huh.social/
Telegram: https://t.me/HUHTOKEN
Twitter: https://twitter.com/HuhToken
Instagram: https://www.instagram.com/huhToken/

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