Shiba Inu (SHIB) is exhibiting concerning technical signals as a bear flag pattern emerges on its weekly chart. Concurrently, exchange inflows have surged, with 2 trillion SHIB tokens deposited over the past month—heightening bearish pressure on the meme coin's valuation.
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Key Market Data
- Current Price: $0.0000143
- 24H Trading Volume: $180M
- Market Cap: $8.44B
- 24H Range: $0.0000141–$0.0000146
Technical Breakdown: Bear Flag Pattern
Pattern Implications:
- The bear flag suggests a temporary consolidation before a potential continuation of the downtrend.
- A breakdown below the flag’s lower trendline could trigger a drop to $0.0000050 (123.6% Fibonacci level).
Invalidation Scenario:
- SHIB must breach $0.000021 (upper trendline resistance) to negate bearish momentum.
Indicator Analysis:
- RSI: At 46, indicating bearish dominance.
- MACD: Despite a recent buy signal, it remains in negative territory.
Rising Exchange Supply: A Red Flag
- Monthly Inflow: 2 trillion SHIB (~$28M at current prices).
- Impact: Increased sell-side liquidity against weak demand may accelerate price declines.
Price Prediction: Near-Term Outlook
Support Levels:
- Critical: $0.0000103**—breach could catalyze a fall to **$0.0000050.
- Catalysts Needed: Bullish reversal requires strong buyer intervention or external market positives.
FAQ Section
Q1: What does the bear flag mean for SHIB?
A: It signals potential extended losses, with a target near $0.0000050 if support breaks.
Q2: Why are traders selling SHIB?
A: Weak altcoin performance vs. Bitcoin and bearish technicals are driving exits.
Q3: Key levels to watch?
A: Monitor $0.0000103 (support) and $0.000021 (resistance for trend reversal).
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Final Thoughts
While SHIB’s current trajectory leans bearish, market conditions remain fluid. Traders should watch for macroeconomic shifts or meme coin sentiment changes.
Disclaimer: This analysis reflects market conditions at publication. Conduct independent research before investing.
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