Technical analysis by yogayenga about Symbol SHIB: Buy recommendation (10/29/2021)

Fundamentals:According to their official website, SHIB is an experiment in decentralised spontaneous community building on platforms such as reddit, twitter, discordThe crypto market is a volatile and unpredictable one, and often cryptocurrencies that have no reason for being on top often get pumped up. However, the coin has pumped this time after a tweet from Tesla CEO and Dogecoin investor Elon Musk. The price of Shiba Inu had earlier skyrocketed in a very short period after Musk shared a picture of his new pet dog named 'Floki'. On Monday, Musk tweeted yet another image of the pup with the caption ‘Floki Frunkpuppy’ which caused a sudden surge in the token’s prices. So there's definately a spontaneous element to SHIB populatityTrading: I look for a support trendline from which to buy i never short as alts are way too volatile