In-Depth Analysis of Shiba Inu’s Market Trends
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Shiba Inu: A Recurring Market Pattern Emerges
In a recent analysis shared by crypto trader IncomeSharks on X, Shiba Inu (SHIB) seems to be revisiting a familiar market structure. The analyst pointed out that SHIB’s price history over the past two years demonstrates a cyclical pattern characterized by short-lived surges followed by extended bearish periods. As of the latest data, SHIB is valued at approximately $0.00001007, and it is currently showing limited momentum to break away from its prolonged bearish trend.
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Analyzing the Bearish Indicators of Shiba Inu
IncomeSharks provided a detailed chart that chronicles Shiba Inu’s daily price actions since the start of 2024. This visual depiction illustrates the token’s repeated cycles of rapid ascents and subsequent downturns. The first significant phase occurred in early 2024, witnessing a swift one-month surge, marking SHIB’s most substantial movement during the observed timeframe. SHIB’s price surged beyond $0.00004, yet this bullish phase was quickly countered by a six-month decline from March to September 2024, eroding much of the gained value.
The subsequent recovery phase lasted approximately three months, beginning in September 2024 and concluding in December. Thereafter, SHIB once more descended into a prolonged bearish trend, persisting until the present moment. This recurring pattern of brief rallies contrasted with extended downturns underscores the challenges Shiba Inu faces in maintaining upward momentum, especially when compared to other digital currencies.
Future Projections if the Pattern Persists
IncomeSharks encapsulated this cyclical movement as “essentially a two-year-long bear market initiated by a dramatic pump followed by a brief relief rally.” The chart reflects this notion, displaying one sharp upward spike succeeded by a protracted sequence of declines. Presently, Shiba Inu has been experiencing approximately 11 months of downward price movement, marking one of its longest bearish phases to date.
Should SHIB’s current course align with the pattern identified by IncomeSharks, the token may encounter several more months of consolidation or decline before witnessing a significant rebound. This suggests that traders anticipating another parabolic rise might need to exercise patience. Notably, Shiba Inu’s most pronounced uptrend within the two-year window lasted just one month, implying that any future bullish surge could similarly be short-lived if selling pressure resumes.
This market behavior is not unique to Shiba Inu; it mirrors a broader sentiment that has engulfed the entire meme coin market over the past year. Even Dogecoin, a leading meme coin, has faced challenges in sustaining its momentum above $0.2, despite numerous efforts to recapture its previous highs. Each unsuccessful breakout has had a ripple effect across the meme coin sector, dampening enthusiasm and dragging other tokens like SHIB, PEPE, and FLOKI into similar extended correction patterns.
As of the latest update, Shiba Inu is trading at $0.00001007, reflecting a 2.8% increase in the past 24 hours but a 20% decrease over the past month.
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