Van de Poppe Is Not A Fan of SHIB – Updates Entry Levels For Bitcoin & Ethereum
Michaël van de Poppe, leading crypto analyst and pro-trader, is not convinced of meme coin Shiba Inu (SHIB), which has made parabolic moves this week, as the rest of crypto market was more or less quiet. He also updates entry levels for Bitcoin (BTC) and Ethereum (ETH), which just broke all-time high.
Shiba Inu (SHIB)
Van de Poppe tweeted to his 459K followers “honestly, I hope SHIB dies”, pointing out to other opportunities rather than giving into FOMO (fear of missing out).
Van de Poppe continued:
“Well, SHIB corrected down heavily by about 30-40% in a matter of hours. I hope you’ve not been buying last night, if you were feeling the FOMO to get in that coin.
There’s plenty of other massive opportunities.”
Well, $SHIB corrected down heavily by about 30-40% in a matter of hours.
I hope you've not been buying last night, if you were feeling the FOMO to get in that coin.
Van de Poppe clarified his position on SHIB by being disappointed that attention has been taken away from other crypto projects that he thinks are more important, such as decentralized finance (DeFi), decentralized autonomous organizations (DAOs), and non-fungible tokens (NFTs).
“I’m not sad I missed it. Got my own positions and gains.
However, I’m starting to hate the meme coins taking the spotlight away from the beautiful things being built in the markets through DeFi, DAO and NFTs. It’s just sad.”
SHIB went parabolic this past week, more than tripling in value to an all-time high of $0.00008616 yesterday. At the time of writing SHIB trades for $0.00006455.
Bitcoin (BTC)
The analyst also updated his ideal entry points for the king of crypto, Bitcoin (BTC).
“If you want to get into the markets, these are the chances that you want to go for [in the $57k range].
If you want to get into a position, I think the chances are literally on the horizon right now to get into those.”
Source: Michaël van de Poppe
At the time of writing Bitcoin trades at $61,539, down 2.3% on the week but up 4.6% over the last 24 hours, according to CoinMarketCap.
Ethereum (ETH)
Regarding Ethereum (ETH), the Van de Poppe suggests two key price levels for prospective buyers.
“These two levels [between $3,600 and $3,900] are clearly entry zones for yourself if you want to get into the markets.
If it gets below those zones, you clearly have an invalidation level beneath.”
Source: Michaël van de Poppe
Although, as ETH broke all-time high just now, and at the time of writing is trading at $4,360, it might take some time before ETH again trades at Van de Poppe’s ideal entry levels.
