Scottie Pippen Tips Shiba Inu As Star Player In Alt Season

The current Shiba Inu coin price movement falls into the consolidation area between $0.000015 to $0.000016, where a 70 trillion SHIB token volume is divided between 69K crypto wallet addresses.

Chicago Bulls legend Scottie Pippen is a Bitcoin bull who has no less than six NBA championships to his name. The basketball icon is juggling several ventures, including a signature meme token called Game 5 Ball.

On X, Pippen asked his audience to slide in recommendations of crypto projects that he should be looking into, adding that "altcoin season is here".

Among his favorite projects, which included a selection of meme coins, were Shiba Inu coin (SHIB) and Dogecoin (DOGE), as well as the cat-themed Mog Coin (MOG) and Pippen’s signature meme token, Game 5 Ball.

Does that mean the NBA icon is joining the meme coin community, commonly referred to as SHIB Army? So far, there’s no actual evidence of Scottie Pippen owning any SHIB tokens, but the shoutout to Shiba Inu in a hand-picked list of promising altcoins feels like a good start.

The current Shiba Inu coin price movement falls into the consolidation area between $0.000015 to $0.000016, where a 70 trillion SHIB token volume is divided among 69K crypto wallet addresses. However, the big test lies ahead starting with the $0.000016 resistance bubble, as it holds the majority of Shiba Inu coins.

Indeed, the confluent resistance between $0.000016 & $0.000019 holds 461 trillion tokens, approximately half of Shiba Inu’s total supply. The sentiment surrounding whales in this range could turn out to be pivotal for the dog-embossed crypto's short-term price projection.

To have a deeper understanding of the sustainability of SHIB’s latest bull run, DailyCoin dug into the technical charts with two key parameters. The 200-day Exponential Moving Average (EMA), used to smooth out trading volume tendencies, was paired with the Parabolic SAR.

The Parabolic Stop & Reverse (SAR) is deemed bullish when the blue dots are placed below the current price movements. In Shiba Inu’s case, these on-chain factors give out conflicting signals.

While Shiba Inu coin (SHIB) is priced slightly below the 200-EMA, portrayed in the blue line, the Parabolic SAR meter flashed a selling signal since Monday, when SHIB locked in a fresh three-month high at $0.00001731, according to the independent price aggregator CoinGecko.