{"id":565536,"date":"2023-12-15T23:00:44","date_gmt":"2023-12-15T23:00:44","guid":{"rendered":"https:\/\/wncen.com\/?p=565536"},"modified":"2024-06-11T08:14:21","modified_gmt":"2024-06-11T08:14:21","slug":"shiba-inu-critical-trading-pattern","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/shiba-inu-coin\/shiba-inu-critical-trading-pattern\/","title":{"rendered":"Shiba Inu Faces Make Or A Point As Analyst Identifies Critical Trading Pattern"},"content":{"rendered":"

Shiba Inu bulls<\/a> continue to struggle to hold on to gains from the last week despite losing their hold at the $0.00001 level. This shows a commitment to pushing the price of the meme coin even higher at a time when large cap altcoins are not really getting much attention. Given this, the SHIB price has traded in a tight range for a while now, something that could either make or break the price.<\/p>\n

Shiba Inu Trading In A Descending Parallel Pattern<\/h2>\n

Crypto analyst Ali Martinez has identified<\/a> a pattern that the Shiba Inu price<\/a> has been trading inside recently. Using a price chart of the altcoin<\/a>, the crypto analyst shows that SHIB has continued to trade inside what is known as a descending parallel pattern.<\/p>\n

Related Reading: Terra Classic Validator Presents \u2018Legally Absolved Route\u2019 To Burn 800 Million USTC<\/a><\/div>\n

Now, descending parallel patterns only show up in an asset when there are a lot of prominent downtrends in the price of that asset over time. Due to this, the appearance of a descending parallel pattern is often very bearish for the price. However, it is not all bad news given that descending parallel patterns can also lead to a surge in the price of an asset.<\/p>\n

As Martinez outlines in his analysis, the current pattern being exhibited by the SHIB price can end up going one of two ways. The first of these is the bullish path which could lead to a breakout. In this case, the analyst maintains that there needs to be a decisive weekly breakout which could push the price toward $0.000014.<\/p>\n

On the flip side of this thought is the more bearish path that could signal a drop back to October levels. This happens is the price of SHIB<\/a> ends up facing a region which could lead to a cascade of downward movement. In this case, the meme coin could fall back to $0.000008 once more.<\/p>\n

\"Shiba<\/p>\n

SHIB price at $0.0000099 | Source: SHIBUSD on Tradingview.com<\/a><\/pre>\n
SHIB Struggles To Keep Up<\/h2>\n
Since facing rejection at $0.00001095, the SHIB price has struggled to keep up with its gains. This makes it the level to beat if the bulls want to regain control. However, there is still a lot of resistance to the asset that it could be an uphill battle to win.<\/p>\n
Related Reading: Avalanche Open Interest Just Smashed A New ATH, Can AVAX Reclaim $100?<\/a><\/div>\n
There are some things that could help to return positive sentiment for Shiba Inu among investors. For one, the Shiba Inu lead developer Shytoshi Kusama has teased what they called a \u201cgame-changing announcement.\u201d If the announcement does turn out to be as big as expected, it could propel SHIB\u2019s price forward.<\/p>\n
Shibarium, the Shiba Inu Layer 2 blockchain<\/a>, has also seen a lot of usage recently. This flurry of activity has increased the amount of fees generated, climbing over $1.2 million. The project\u2019s lead dev has confirmed that these generated fees will be used to burn SHIB<\/a>. As the SHIB supply is reduced, the price is expected to rally.<\/p>\n
Follow Best Owie on X (formerly Twitter)<\/a> for market insights, updates, and the occasional funny tweet\u2026 Featured image from Analytics Insight, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Shiba Inu bulls continue to struggle to hold on to gains from the last week despite losing their hold at the $0.00001 level. This shows a commitment to pushing the price of the meme coin even higher at a time when large cap altcoins are not really getting much attention. Given this, the SHIB price has traded in a tight range for a while now, something that could either make or break the price. Shiba Inu Trading In A Descending Parallel Pattern Crypto analyst Ali Martinez has identified a pattern that the Shiba Inu price has been trading inside recently. Using a price chart of the altcoin, the crypto analyst shows that SHIB has continued to trade inside what is known as a descending parallel pattern. Related Reading: Terra Classic Validator Presents \u2018Legally Absolved Route\u2019 To Burn 800 Million USTC Now, descending parallel patterns only show up in an asset when there are a lot of prominent downtrends in the price of that asset over time. Due to this, the appearance of a descending parallel pattern is often very bearish for the price. However, it is not all bad news given that descending parallel patterns can also lead to a surge in the price of an asset. As Martinez outlines in his analysis, the current pattern being exhibited by the SHIB price can end up going one of two ways. The first of these is the bullish path which could lead to a breakout. In this case, the analyst maintains that there needs to be a decisive weekly breakout which could push the price toward $0.000014. On the flip side of this thought is the more bearish path that could signal a drop back to October levels. This happens is the price of SHIB ends up facing a region which could lead to a cascade of downward movement. In this case, the meme coin could fall back to $0.000008 once more. SHIB price at $0.0000099 | Source: SHIBUSD on Tradingview.com SHIB Struggles To Keep Up Since facing rejection at $0.00001095, the SHIB price has struggled to keep up with its gains. This makes it the level to beat if the bulls want to regain control. However, there is still a lot of resistance to the asset that it could be an uphill battle to win. Related Reading: Avalanche Open Interest Just Smashed A New ATH, Can AVAX Reclaim $100? There are some things that could help to return positive sentiment for Shiba Inu among investors. For one, the Shiba Inu lead developer Shytoshi Kusama has teased what they called a \u201cgame-changing announcement.\u201d If the announcement does turn out to be as big as expected, it could propel SHIB\u2019s price forward. Shibarium, the Shiba Inu Layer 2 blockchain, has also seen a lot of usage recently. This flurry of activity has increased the amount of fees generated, climbing over $1.2 million. The project\u2019s lead dev has confirmed that these generated fees will be used to burn SHIB. As the SHIB supply is reduced, the price is expected to rally. Follow Best Owie on X (formerly Twitter) for market insights, updates, and the occasional funny tweet\u2026 Featured image from Analytics Insight, chart from TradingView.com<\/p>\n","protected":false},"author":541,"featured_media":565540,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[92559],"tags":[167,6664,26263,14690,83668,89178,84473,83667,89157,86437,84562,84558],"class_list":["post-565536","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-shiba-inu-coin","tag-analyst","tag-crypto","tag-crypto-analyst","tag-crypto-news","tag-shib","tag-shib-news","tag-shib-price","tag-shiba-inu","tag-shiba-inu-news","tag-shiba-inu-price","tag-shibusd","tag-shibusdt"],"acf":[],"yoast_head":"\nShiba Inu Faces Make Or A Point As Analyst Identifies Critical Trading Pattern<\/title>\n<meta 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Best is a highly skilled professional with a track record of producing engaging and informative content. With a keen eye for detail and a passion for accuracy, Best is committed to ensuring that each article published meets the highest standards of quality. Best has over six years of experience in the crypto industry and has overseen the creation and publishing of thousands of articles over the years. Best is always abreast of everything that is going on in the crypto industry in order to create and curate the most relevant content for readers. This shines through in Best\u2019s publications, which are always clear and concise, enabling easy reading and understanding for all. Best is also an avid learner and advocate for new technology. This has seen Best dive into topics in areas such as decentralized finance (DeFi), non-fungible tokens (NFTs), Layer 2 blockchains, etc. In addition to this, Best is a vocal member of the crypto community across various social media platforms such as X and Reddit. Best\u2019s work garners tens of thousands of readers monthly, who rely on the information in these publications to keep up-to-date with everything happening in the crypto community. Best\u2019s articles explore breaking news, intricate systems such as yield farming, liquidity pools, and other decentralized finance (DeFi) systems. This is because Best understands the importance of information to gaining financial freedom and believes that everyone should have access to this information. Best also believes in leveraging the blockchain for philanthropy to create the most positive social impact. This involves work with charitable organizations focused on financial literacy and education. With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity. When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors with Green - the world\u2019s most quiet and well-behaved Husky. Best\u2019s interests also span other industries such as art, finance, and security, attending seminars and conferences in not just the crypto industry but other industries as well. As an animal lover, Best is also involved with charities for animals, local shelters, and rescues. Best is also involved in local events that promote inclusivity, such as being a prominent member of hiking clubs and a cycling club, as well as being a part of a very happy group of animal lovers. Best is a true professional in every sense of the word, with an exceptional dedication to producing high-quality work. This shines through in Best's work on and off the clock. These include advocating for inclusive crypto education for all, the impact of financial illiteracy, and the benefits of adopting new technologies such as cryptocurrencies. Best\u2019s prolific career in the media industry is a testament of how hard work and dedication pays.","sameAs":["https:\/\/www.linkedin.com\/in\/best-owie-41a150178\/","https:\/\/x.com\/https:\/\/twitter.com\/BestOwie"],"url":"https:\/\/wncen.com\/author\/owiebest\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Shiba Inu Faces Make Or A Point As Analyst Identifies Critical Trading Pattern","url":"http:\/\/wncen.com\/news\/shiba-inu-coin\/shiba-inu-critical-trading-pattern\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/shiba-inu-coin\/shiba-inu-critical-trading-pattern\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/12\/Shiba-Inu-price-Small.jpeg?resize=200%2C180","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/12\/Shiba-Inu-price-Small.jpeg?fit=320%2C180"},"articleSection":"Shiba Inu Coin","author":[{"@type":"Person","name":"Best Owie"}],"creator":["Best Owie"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["analyst","crypto","crypto analyst","crypto news","shib","shib news","shib price","shiba inu","shiba inu news","shiba inu price","shibusd","shibusdt"],"dateCreated":"2023-12-15T23:00:44Z","datePublished":"2023-12-15T23:00:44Z","dateModified":"2024-06-11T08:14:21Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Shiba Inu Faces Make Or A Point As Analyst Identifies Critical Trading Pattern\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/shiba-inu-coin\\\/shiba-inu-critical-trading-pattern\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/shiba-inu-coin\\\/shiba-inu-critical-trading-pattern\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/12\\\/Shiba-Inu-price-Small.jpeg?resize=200%2C180\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/12\\\/Shiba-Inu-price-Small.jpeg?fit=320%2C180\"},\"articleSection\":\"Shiba Inu Coin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Best Owie\"}],\"creator\":[\"Best Owie\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"analyst\",\"crypto\",\"crypto analyst\",\"crypto news\",\"shib\",\"shib news\",\"shib price\",\"shiba inu\",\"shiba inu news\",\"shiba inu price\",\"shibusd\",\"shibusdt\"],\"dateCreated\":\"2023-12-15T23:00:44Z\",\"datePublished\":\"2023-12-15T23:00:44Z\",\"dateModified\":\"2024-06-11T08:14:21Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/12\/Shiba-Inu-price-Small.jpeg?fit=320%2C180","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/565536"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/541"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=565536"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/565536\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/565540"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=565536"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=565536"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=565536"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}