Shiba Inu (Shib) is shining a warning sign after creating a bear flag pattern. Meanwhile, 2 trillion Shib tokens have flooded exchanges in a month, exposing the pressure of recession moving towards Shiba Inu Price.
Shib trades on $ 0.0000143 Press on time with $ 180m in daily trading volume and $ 8.44 billion market cap. In 24 hours, Shib has upset between the daily lower and daily high $ 0.0000146 of $ 0.0000141 Data from coinmarketcap,
Shiba Inu Price Flash Warning Sign Emerges Bear Flag
Shiba Inu Price has put a warning sign on the weekly chart after the emergence of a bear flag pattern. The flag of a bear usually indicates a brief stagnation in the downtrend, before the recession speed pushes Shib.
If the price of Shib falls below the lower support level and expands the dowtrand, this bear flag will be considered valid. In this case, this meme coin can decrease to the level of 123.6% of the 123.6% fibonacci of $ 0.0000050, and this decline can eradicate all the benefits that Shiba Inu has done since 2024.
The only way to invalve the pattern of this recession flag is the only way to inu value is that it eliminates resistance on the upper trendline of the flag and increases above $ 0.000021. Such steps will indicate that buyers are gaining control Top meme coinAnd the speed is going to intensify.
However, the RSI invalid the possibility of a possible rapid reversal with the value of 46, indicating that the current is the speed recession. This can expand the pressure downwards and force the shiba inu value to drop the price below $ 0.00001.
MACD supports this approach as it lives within a negative area. However, the MACD line formed a procurement signal after crossing the signal line, and if the buyers now step, it can invaluate the above recession thesis and assist an update for this altcoin.
3 trillion Shib floods exchange in 1 month
In addition to the bear flag pattern, Shib’s increasing supply on exchanges is also a warning signal that shows that Shiba Inu value can enter a steep dowtrand. Data from the century suggests that in just one month, the supply has increased from 139 trillion to $ 141 trillion, showing that 2 trillion tokens have entered exchanges.
The tokens deposited on exchanges are more than $ 28 million at the current Shib price. Currently, due to weak demand, the implication of this growing supply at the price is slow. This setup increases the possibility of Shib in the near period to $ 0.000050.
Keeping in mind the technical approach to this recession shown by the bear flag pattern and increasing Shib supply, it is clear that the prohibition of the near-period is negative, and traders should estimate further damage until an unpredictable rapid catalyst emerges.
To know how Shiba Inu will perform between 2025 and 2030 and if it will overcome the current recession trends – Read this,
Frequently asked questions (FAQs)
The bear flag pattern on the weekly Shiba Inu Chart reflects a possible continuity of the recession trends. This price can increase to $ 0.00005.
Traders are selling Shibs due to a recession technical approach. In addition, as altcoins underperform against bitcoins, the demand for meme coins like Shib is drying up.
The major support level for viewing in Shib is $ 0.0000103. If the meme coin falls below this support level, it can trigger the accident up to $ 0.0000050.
Muthoni
Muthoni Mary is an experienced crypto market analyst and writer, who has an experience over three years, dissecting blockchain trends, price movements and market dynamics. With a sharp look for technical analysis and intense understanding of on-chain matrix, she provides practical, data-powered materials that help investors navigate the world with a fast book of digital assets.
Disclaimer: The material presented may include the author’s personal opinion and is subject to the market status. Do your market research before investing in cryptocurrency. The author or publication does not have any responsibility for your personal financial loss.
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