![]() Let's take this channel to the next level where we can make even bigger meaningful differences to those we reach. If you want to support an independent channel who loves investing and all things financial, that's us. If you want to support someone who has dedicated years to making people's lives better, I would greatly appreciate you supporting me. The Oscar Ramos YouTube Channel is dedicated to helping investors maximize their profits and creating financial literacy for all. I want to help people reach the financial freedom that we all strive to get to. This channel is my chance to give a set of ears to those that may not have a financial person to talk to in times of need. My goal is to educate you one video at a time. For now, price action is likely to remain highly choppy.Welcome and Thank you for your interest in supporting the channel, it means the world to me. If BabyDoge’s developers can deliver some meaningful utility to the token via NFT creation and GameFi, then the meme coin certainly has the potential to rally in the next crypto boom. Retail crypto investors may be attracted to the BabyDoge’s deflationary tokenomics and redistributive transactions tax that offers token holders a passive stream of income. Out of the non-Dogecoin/Shiba Inu meme coins, this already strong community suggests BabyDoge has a chance of making it big. The official BabyDoge Twitter page has 1.4 million followers, its official Instagram page has 283K followers, and its Telegram channel has over 200K members (according to CoinMarketCap). In that regard, the BabyDoge community has been doing well. The cryptocurrency reached as high as $0.0000000025 (that’s right, eight zeros) on 1 June before subsequently collapsing as low as $0.0000000011 by the middle of the month.Īt this stage in its life, BabyDoge’s price action is mostly going to be determined by the whims of retail trader emotions and the cryptocurrency’s efforts to build up notoriety. Source: FX Empire BabyDogeīabyDoge, the third-largest meme coin by market capitalization and the self-proclaimed offspring of Dogecoin, also had a choppy month in June. SHIB/USD has some room to run to the upside. If upcoming US (and global) data this month indicates the toxic combination of a further build-up of inflationary pressures plus more weakening of growth, then macro (and crypto) risk appetite may continue to deteriorate, sending Shiba Inu towards this area. If it does eventually fall towards the summer 2021 lows around $0.000005, that would mark a more than 85% drop on the year. Since the start of the year, SHIB/USD has fallen by around 70%. The cryptocurrency has been locked within a downtrend since the beginning of 2022. Long-term technicals suggest that while there is room for a near-term rally, perhaps as high as resistance in the $0.000017 area, Shiba Inu’s trend remains bearish. This level was (roughly) the top of Shiba Inu’s trading range during the summer of 2021. SHIB/USD pivoted on either side of a key long-term level of support just under $0.000010 last month. Over the past few days, the cryptocurrency has been consolidating between its 21 and 50-Day Moving Averages at $0.0000095 and $0.0000105 respectively. ![]() But the memecoin was at one point nearly 40% down on the month when it fell into the low-$0.000007s.Įqually, SHIB/USD was also at one point trading with monthly gains of about 4% when it rallied towards $0.000011. SHIB/USD ended the month with losses of just shy of 12% just above the $0.000010 level. ![]() June was an erratic month for the crypto community’s second favorite meme coin Shiba Inu. But if markets start believing that the Fed is going to start easing rates significantly in 2023 and beyond, risk assets could be in for a rally between now and the rest of the year. For now, worries about a potential recession are weighing on risk assets like crypto.
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