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Shiba Inu (SHIB) is forming a large inverse head and shoulders pattern, signaling strong bullish momentum. Analysts predict a potential breakout that could push prices over 400% higher, targeting the $0.000081 mark. According to Javon Marks’ analysis, SHIB’s time frame is forming an inverse head and shoulders pattern, indicating a possible trend reversal. The left shoulder developed after a decline, followed by a temporary recovery and another drop. The head formed at a lower level, marking the lowest point in the structure. A right shoulder then emerged, maintaining symmetry with the left shoulder. Price movements leveled off at a horizontal support level when the right shoulder formed. When the price breaks above the neckline, this pattern has historically resulted in significant reversals. A breakout might validate the bullish setup and possibly start a long-term upward trend if SHIB keeps this structure. The price fluctuations in the past show a recurring pattern of accumulation, breakout, and expansion. SHIB has followed this pattern consistently, forming higher peaks over time. The projected price movement suggests a breakout towards the $0.000081 level, representing over 400% growth. Fibonacci retracement levels align with critical resistance zones, reinforcing potential breakout points. The resistance level above the shoulders has previously limited upward momentum. A breach of this level could validate the next leg of the uptrend, signaling further price appreciation. Marks highlights that SHIB appears to be finalizing its right shoulder . If the market structure remains intact, the token could be on the verge of a major breakout. Additionally, past market cycles support this pattern, with prices surging after breaking key resistance levels. If SHIB maintains the current trajectory, a price discovery phase could follow, leading to substantial gains. The neckline remains a crucial indicator, as breaking above it could confirm the bullish continuation. Overall, SHIB’s market structure demonstrates a strong accumulation and breakout cycle. If the formation holds, the expected price movement could mirror previous bullish runs, driving significant gains. The pattern aligns with historical market behavior, reinforcing the possibility of a sustained uptrend. DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

The field of cryptocurrencies maintains quick advancement while major stakeholders advance essential innovations to boost usability and generate superior benefits to users. StormX together with Cardano and Dogecoin establish their position through crypto cashback rewards and decentralization of applications as well as building powerful community-based adoption models. These digital assets drive financial world changes by leveraging blockchain innovations together with viral internet cultural influences. The different impacts of these platforms are highlighted in the following information. Current price: $0.005311 Market cap:$65.55M The cryptocurrency-based cashback platform StormX pursues ongoing development of its worldwide presence. The company established itself in 2015 with a service that enables users to collect cryptocurrency during their online shopping. Customers can earn cashback rewards through the mobile app and browser extension features of StormX while the company collaborates with Samsung Nike and Lego and other leading enterprises. Users who stake the STMX token can further boost their rewards. Investments from Blockfolio, the Litecoin Foundation, and Kyber Network have contributed to the company’s growth. StormX is attracting attention by offering cashback of up to 87.5% for selected purchases. Current price: $0.7664 Market cap:$26.98B Cardano operates as a proof-of-stake blockchain platform which continues building its technology base for decentralized applications and smart contracts. Cardano launched in 2017 with the purpose of demystifying centralized power systems through improved security while increasing transparency for all users. ADA functions as the native token of the Cardano blockchain which lets owners engage in network management operations. The Alonzo hard fork activated smart contract functionality during its launch in September 2021 and enabled more than 100 smart contracts to operate successfully during the first day. The technology from Cardano has started its implementation in supply chain monitoring and safe credential management systems. Current price: $0.2440 Market cap:$36.14B Dogecoin remains an important cryptocurrency because it started its journey in the crypto space as an entertaining digital payment system. The Litecoin fork of 2013 led to the creation of Dogecoin by Billy Markus and Jackson Palmer. Beyond its initial reputation as a meme cryptocurrency Dogecoin built popularity with a Shiba Inu as its brand symbol. Executives at Tesla led by Elon Musk have done multiple social media promotions of Dogecoin which helped keep it in the public eye. The Dogecoin community actively supports different projects which bolsters the accessibility of this digital asset. DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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TL;DR Shiba Inu’s price faces further downside risks due to a sharp drop in Shibarium activity, a collapse in the burn rate, and other factors. However, a predominantly negative exchange netflow suggests investors might be moving SHIB off exchanges into self-custody, potentially easing selling pressure and hinting at a short-term price rebound. What Signals a Severe Pullback? The second-biggest meme coin has not been in good shape lately. Its price has fallen over 25% in the past month, currently trading at roughly $0.00001543. SHIB Price, Source: CoinGecko Some key elements indicate the meme coin might be headed for a deeper correction. One of those is the decreased Shibarium activity. Daily transactions processed on the layer-2 scaling solution have dropped from over 4.5 million last week to under 100,000 on February 17. Shibarium is specifically designed to foster the development of the Shiba Inu ecosystem, and its further advancement could positively impact the price of the underlying token. Conversely, its stalled progress may have the opposite effect. Next on the list is Shiba Inu’s burning program. The burn rate has collapsed 95% over the last 24 hours, resulting in just 1.7 million tokens sent to a null address. The mechanism’s ultimate goal is to reduce the circulating supply of SHIB, potentially making it more valuable in time. Lastly, we will touch upon the overall bearish environment of the entire meme coin niche. The sector’s total market capitalization has slipped by 5% in the past day, currently set at less than $75 billion. The vast majority of the memes, including Dogecoin (DOGE), Pepe (PEPE), Official Trump (TRUMP), Bonk Inu (BONK), Floki Inu (FLOKI), and many more have recorded substantial losses. Meme coins are often driven by hype, community sentiment, and speculative trading. A downtrend of the entire sector can dampen enthusiasm, leading to reduced trading volume and selling pressure on numerous tokens, including SHIB. Something for the Bulls Despite the aforementioned bearish factors, it is not all doom and gloom, with one on-chain metric suggesting a possible price reversal in the short term. This is Shiba Inu’s exchange netflow which, according to CryptoQuant, has been predominantly negative in the last month. The development signals about a potential shift from centralized platforms toward self-custody methods, which in turn, reduces the immediate selling pressure. The post Another Shiba Inu (SHIB) Price Crash Ahead? 3 Factors Driving Bearish Sentiment appeared first on CryptoPotato.

As of today, Shiba Inu (SHIB) has reached a reset point, stabilizing after notable price fluctuations. This phase is characterized by reduced volatility and market indecision, with SHIB’s price hovering around $0.00001546 . This means that the cryptocurrency has reached a level where past trends, momentum, and trading patterns have essentially been neutralized, allowing for a fresh start in price movement. SHIB has formed a double bottom near the $0.00001485 level, suggesting potential support and a trend reversal. A recent death cross , where the short-term moving average crosses below the long-term moving average, indicates bearish momentum. Historically, this pattern can precede further declines or serve as a precursor to a significant reversal. The current inactivity of large holders (aka whales) suggests possible declines in volatility and liquidity. Their absence may keep SHIB’s price relatively stable around this reset point, frustrating traders seeking profit from price movements. Also, SHIB exhibits a pattern of increased trading volume at the start of each week, followed by a decline. Such cyclical behavior may influence short-term price movements and trader strategies. It’s hard to predict where this will lead. The fact remains that the market is no longer heavily biased toward either buying or selling, meaning SHIB is consolidating after considerable price fluctuations. For investors, one could say that the market is in a state of indecision, where something huge will need to happen for SHIB to break out of its current stagnation. It’s also worth noting that prolonged periods of low volatility often build pressure, leading to substantial price movements once a breakout occurs – if it occurs at all, that is. In addition, if big investors aren’t actively trading, it can reduce volatility and cause the price to remain stagnant. On the other hand, if buying pressure increases due to positive catalysts such as whale accumulation or major announcements, SHIB could rally upward. Whatever the case, SHIB’s stabilization at this reset point reflects a balance between potential support levels and bearish indicators. The future trajectory of this cryptocurrency will largely depend on market catalysts and the re-engagement of prominent market participants. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.