Shiba Inu Price Prediction: The ongoing correction in the second-largest meme cryptocurrency Shiba Inu coin can be followed using two parallel walking trendlines. Over the past three weeks, this coin’s value has declined from $0.00000964 to its present level of $0.00000834, translating to a 13.5% decrease. Amid the overhead supply from resistant trendlines and broader market uncertainty, the SHIB price is at risk of further downfall.

Also Read: Shiba Inu (SHIB) Price Forecast With AI Insights For December 1

또한 읽어 보세요: 12월 1일 AI 통찰력을 통한 시바견(SHIB) 가격 예측

Will SHIB Price Extend Correction to $0.000007?

SHIB 가격이 $0.000007까지 조정을 연장합니까?

• The SHIB price correction shapes into a bullish flag pattern
• The coin price is still above the 50% Fibonacci retracement level, indicating the overall uptrend is intact.
• The intraday trading volume of the Shiba Inu coin is $118.5 Million, showing a 61% loss.

시바견 코인의 장중 거래량은 1억 1,850만 달러로 61%의 손실을 보이고 있습니다.

The Shiba Inu price has seen a slight uptick of 0.6% today, edging closer to retesting the upper boundary of its flag pattern. Historical analysis of this pattern suggests that previous attempts to breach this trendline have typically been met with substantial resistance, resulting in a retreat to the lower trendline. 

Given the Bitcoin price struggle to breach the $38,000 mark, market sentiment currently skews towards uncertainty and bearishness. Should the SHIB price reverse at this critical juncture, we could see a decline of approximately 14%, targeting a value of $0.00000715. 

This potential descent might encounter intermediate support levels at $0.00000806 and $0.00000761.

이 잠재적 하강은 $0.00000806 및 $0.00000761의 중간 지지 수준에 직면할 수 있습니다.

On the flip side, it’s important to note that the flag pattern is typically seen as a bullish indicator. Thus, a successful break above the upper trendline is needed to turn the dice in buyers’ favor. The post-breakout rally may propel the SHIB price towards higher price goals, potentially aiming for $0.00001 and then $0.000011.

SHIB vs DOGE Performance

SHIB 대 DOGE 성능

A comparative analysis between the two leading meme cryptocurrencies, Dogecoin and Shiba Inu, shows both assets have witnessed a significant recovery. However, the SHIB appears to be facing a steeper correction, characterized by a pattern of new lower lows and highs. In contrast, the Dogecoin price has demonstrated a stronger rebound, poised to surpass its last swing high.

• Exponential Moving Average: The Shiba price struggling to sustain above the 200-day EMA shows negative sentiment among market participants.

지수 이동 평균: 200일 EMA 이상을 유지하기 위해 고군분투하는 시바 가격은 시장 참가자들 사이에서 부정적인 감정을 보여줍니다.

• Vortex indicator: A bearish crossover state between the VI+(blue) and VI-(orange) slope accentuates the sellers’ upper hand.

소용돌이 표시기: VI+(파란색)와 VI-(주황색) 기울기 사이의 약세 교차 상태는 판매자의 우위를 강조합니다.

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