A Profitable Shiba Inu Trading Strategy 2024

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Today, I will teach you a profitable Shiba inu trading strategy.

This Shiba strategy will have two specific parts to help you profit from trading SHIB.

The first part will explain a long-term hold strategy for Shiba Inu.

Part 2 will be a Shiba Inu day trading strategy or swing trading strategy.

Because I believe in holding long term, it is also possible to generate income short term.

I call this double-dipping, making money more than one way.

The first time I double-dipped was when I was collecting, GI Bill money from the VA to go to school, while also earning wages from UPS, my employer at the time.

I got paid for the same thing twice! I love double-dipping. If you are interested in more double-dipping strategy ideas, let me know in the comments.

Introduction to Shiba: Long Term Plan

What is Shiba Inu?

Shiba Inu is a crypto coin on the Ethereum network. They recently launched a new network called Shibarium.

Shiba is a counter the meme coin doge with the title of the dogecoin killer.

The coin’s development team created a 28-page whitepaper explaining their plans for Shiba inu.

One of the big reasons they created the shib coin is to focus on decentralized currency and programs.

Decentralization means it is in the hands of the people, not the hands of the government, unlike fiat currency which is under the control of the central bankers and the government.

The idea is to give power to the community and the average person.

Anything bringing power and choice to the people can be considered a radical idea, which can cause many enemies to rise against those ideas.

So that means this is more than a coin it is a movement. It is a movement that can bring choice to the ordinary person and profit.

I am a big believer in the long-term benefits of Shiba Inu for the following reasons.

  1. Shiba Inu is a deflationary coin that is the opposite of an inflationary. When something is deflationary, it means that it has a max supply and it is limited. Verses, for example, us dollar, which is inflationary because it has an unlimited supply.
  2. The second reason I am an enormous believer in Shiba Inu is that they limit the supply of Shiba Inu coins. By doing Shiba burns on a large scale, they are destroying the supply of Shiba to make the number of Shiba even lower, which can increase the value IF they decrease supply. In contrast, increasing demand simultaneously can be a significant increase in value.
  3. The third reason is they have a talented team they are working at creating real value for the use of the Shiba community.
  4. The developers have a roadmap for a Shiba NFT, Shiba swap, shibarium, Shiba net, and a Shiba game.
  5. The Shib Army has millions of followers who believe the coin could go to a penny. Most people think they are crazy, and they are correct; they are crazy, just crazy enough actually to get the price to a penny 🙂 I happen to be one of them, and I know I am crazy.

What is a Shib Burn:

People send coins to a dead wallet that cannot be accessed anymore, permanently removing the cash from the supply.

Note* just because the supply is limited doesn’t automatically make it valuable. There must be demand with the limited supply.

I have my old childhood drawings, which are rare. It’s worth millions to my mom, but I can’t sell it to the rest of the world for anything.

Get an idea of how that works?

You can follow the amount of all the shib burns here on a tracking website called shibburn.

How to Burn Shib:

Burning Shib will decrease the supply of the Shiba inu coin. Several businesses are part of the Shiba army, and they are voluntarily taking some of their profits and burning them.

Steven Cooper, the Founder of Bigger Entertainment, created several playlists that earn royalties when you play music. Steven buys shib with the royalties they earn from the playlists. The shib they purchase is sent to dead wallets, which is how they burn them.

Travis Johnson has two games he created and is burning shib with 100% of the revenue he earns from his two games.

Brick Buster: a fun game shooting bricks.

 

Long Term Investing Plan for Shiba Inu

I will cover my Shiba Inu buy-and-hold plan’s long-term plan.

Buy as many coins as possible.

I will look at my revenue sources, add them up, and put 10% of my earnings into Shiba each week.

The price of the Shiba Inu coin is low right now, and a $100 investment will buy you about 3 million coins.

I am doing this because I believe it will increase in value.

I will continue to buy 10% shib until the price gets to a penny or I get 10 billion coins, whichever comes first.

When I get to 10 billion, I will put 10% into another asset. If you want to stay up to date on my investing strategies, make sure you listen to the How To Trade It Podcast.

When shib gets value increases to a penny, I will pull out 50% of the profit and reinvest that into other assets that create revenue.

Such as stocks, real estate, businesses, or another cryptocurrency.

I will hold the rest of my shib inu until the price gets to $1, and at that point, I will sell an additional 50% and invest the profits into revenue-producing assets.

The key to being financially free is to buy things that produce revenue.

Best Shiba Trading Strategy

How to Trade Shiba INU:

Step one: Open a new trading account

Places you can trade Shiba Inu.

You can trade shiba INU on Webull, coinbase, and coinbase pro.

If you do not have an account with any of the above platforms, you can open them and get a bonus with the following links.

Webull $5 free shib bonus Click Here Now.

Coinbase Get $10 of bitcoin when you open a new coinbase account.

Soon, Shiba Inu will be available to trade on Robinhood, and when that happens, it is another option you might want to consider.

Right now, my favorite place to trade Shiba Inu is Webull.

Step Two: Put Your Chart on a 1 Hr Time Frame

The next step to help you learn to trade Shiba Inu is to know when to enter the trade.

Put Your Charts to a 1 Hr Time Frame:

*Note This strategy will work on any timeframe you wish to trade, but we are teaching the 1 hr for this article.

Step 3: Add Support and Resistance Levels to the Chart.

This strategy will be only focused on buying since, at this time, very few people can short Shiba Inu.

If more brokers add Shiba as a CFD, we may change that later, focusing only on buying.

You want to find a Support level where the price previously stopped on your chart.Shiba Inu Trading Strategy

If you need more training on support and resistance, check out our detailed article.

Step 4: Entry Conditions on the Shiba INU Trading Strategy

When price moves into the level, you wait for a bullish candle to form.
When you get a bullish candle that looks strong, you will want to take a buy trade.

You enter the trade when the close is above the previous candle high.

Or you may want to check the price action strategy guide as well.

Shiba Strategy

Step 5: Stop Loss Placement

After entering the trade, you immediately place your stop loss below the support level.

One of the essential parts of trading is money management, so make sure you have a good money management strategy.

A Profitable Shiba Inu Trading Strategy 2024

Step 6: Where to place your take profit.

Place your target below the most recent resistance level. For example, try to make sure you have at least at 2:1 RR.

Trading Resistance Shiba

That way, I have a 2 to 1 Risk to reward ratio. I know that I will profit if I win 35% of my trades.

The Trade shown in the image above is just over a two-to-one risk to reward ratio.

For example, if I take 1000 trades and win 350 trades and lose 650 businesses IF I win $20 per trade and lose $10 per trade, that means I will make $500

That is a lot of work for just $500, but the idea is to tweak the strategy so that you can increase the win rate.

Another Trade Example of Shiba Inu Trading Strategy

A Profitable Shiba Inu Trading Strategy 2024

Frequently asked questions:

Here are the answers to some questions that I frequently get regarding the Shiba Inu trading strategy.

Is Shiba Inu a good investment?

That is the wrong question; the correct question is, will Shiba inu increase value? 

The coin has limited supply, and demand is rapidly increasing as well, and due to the law of supply and demand, the answer is yes, it will increase in value. 

But, of course, anything can happen, and we don’t know the future, so you must do your research. 

The content in this article is not investment advice.

Will Shiba reach 1 cent?

No one knows. As investors all we can do is look at the supply and demand of things. The supply is limited and the demand is only increasing.

Will Shiba Inu Reach a Penny?

I think that it probably will be much more than 1 cent.

Some people say it’s impossible to reach 1 cent because if Shiba gets to 1 cent with the current supply, the market cap would be 23 trillion dollars which they say is impossible.

We must look at the following factors:

  1. They are burning shib and reducing the total supply. If supply decreases then, when it gets to 1 penny, the market cap would probably not be anywhere close to 23 trillion.
  2. Even if they don’t burn the coins, I still believe it could reach .01 because of the demand. 
  3. Declining dollar: Remember there is a limited supply, and the demand for shib is rapidly increasing. With the rapid dollar decline, a 23 trillion dollar market cap doesn’t mean much these days.

Is Shiba Inu a Shitcoin?

That means is Shiba Inu a scam? Will the developers take the money and run? 

Anything, of course, is possible, and we had seen this happen many times before in crypto, where the creators just took the money and trashed the coin. 

In this case, I would say no, because there is massive support online and a huge development team. 

But anything is possible, and no one knows the future, so make sure to be prepared to lose it all if you invest.

Is Shiba Inu a good investment long term?

Suppose the development team of Shiba Inu continues to keep working on these projects and increases the value of the community and the use of the tokens. In that case, it should be an excellent long-term investment for many years to come. Make sure to try out our crypto trading strategy. 

What are the Main Risks to Shiba Inu?

There is no such thing as a perfect investment, and Shiba Inu is no different.

Here are what I perceive to be the main risks to Shiba Inu.

  1. Leadership: If the leaders and development team lose focus and vision. A coin like this is dependant on the projects to come through. Right now, they have made significant progress in the first year, but it is still early, and if they do not execute on their vision, that will derail Shiba from becoming great. The leadership is doing good so far, but many coins have fallen away to poor leadership or even crypto scams, so only invest what you can afford to lose.
  2. Two many other coins are doing the same thing. There have been a host of coins, and for each new coin released, it is competition for the dollars and teams to get behind them. Right now, the competition is getting intense, and If Shiba Inu falters, there will be another coin right behind it to take its place.
  3. An economic collapse, we do not know for sure what will happen to the price of Shiba during a financial failure, but one thing we can agree on is that during a collapse, most items drop rapidly.  If we look back at the 2000 dot com bubble, most of the stocks went down, and most of the dot com stocks went out of business. Even Amazon went into the desert for many years before rising from the ashes. Many coins may disappear during a collapse, but the strong coins with an actual vision will survive and rise and become great. 

Shiba Inu Trading Strategy Video Youtube

 

Conclusion

This Shiba inu trading strategy is a great way you can trade shiba consistently. There is no guarantees, of course, but if you follow the rules of this best shiba trading strategy then anything is possible!

If you liked this article please comment below!

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