,The price of Shiba Inu (SHIB), the self-proclaimed “Dogecoin killer,” has been caught in a technical tug-of-war, with bears attempting to push it lower and bulls clinging to signs of hope. Analysts are scrutinizing the memecoin’s chart pattern and on-chain data to decipher its next move.
Descending Triangle Looms: Will SHIB Fall Or Fly?
A descending triangle formation has emerged on SHIB’s 3-day chart. This pattern typically indicates a potential price decline, as the asset’s price gets squeezed between converging support and resistance lines. The big question for SHIB holders: will the price break below support and continue its descent, or will it defy gravity and break out of the triangle, sparking an uptrend?
Falling Demand Raises Concerns For Shiba Inu
Adding fuel to the bearish fire, SHIB has witnessed a significant drop in demand. Data from Santiment reveals a worrying trend: the daily active addresses for SHIB have plummeted by more than 50% over the past month. This suggests a shrinking user base and potentially lower trading volume, which can put downward pressure on the price.
New Investors Give SHIB The Cold Shoulder
Further dampening spirits is the sharp decline in new addresses joining the SHIB party. According to on-chain data, the number of new addresses created daily to trade SHIB has nosedived by 51% in the same period. This lack of fresh blood entering the market could exacerbate the selling pressure.
SHIB’s High Valuation: A Recipe For Sell-Off?
Another factor causing concern is SHIB’s Market Value to Realized Value (MVRV) ratio. This metric compares the current market price with the average acquisition price of all SHIB tokens. Currently, SHIB’s MVRV ratio sits at a lofty 38%. When this ratio is high, it suggests the asset might be overvalued, potentially triggering existing holders to cash in on their profits and contribute to a sell-off.
A Silver Lining?
Despite the prevailing bearish sentiment, a glimmer of hope flickers for SHIB. The coin’s weighted sentiment has surprisingly turned positive recently, indicating a shift in market perception. This newfound optimism could translate into a price breakout, defying the descending triangle’s bearish implications.
Related Reading: Bitcoin Update: $120 Million Futures Liquidated As Price Takes A Beating
Can Bullish Sentiment Propel SHIB To Higher Ground?
If the positive sentiment persists, analysts predict a potential price surge for SHIB, reaching $0.00003. This would be a welcome change for investors who have witnessed a recent price slump.
Meanwhile, SHIB’s Fibonacci retracement level shows that the memecoin’s price may drop further 15% to trade at a low of $0.000018 if the bears continue to put pressure on it and it falls below support.
SHIB investors now have more cause for concern as this underscores the possible repercussions of a bearish breakthrough.
Featured image from Pexels, chart from TradingView

自称为“狗狗币杀手”的柴犬（SHIB）的价格陷入了一场技术拉锯战，空头试图压低价格，而多头则紧紧抓住希望的迹象。分析师正在仔细研究 memecoin 的图表模式和链上数据，以解读其下一步走势。 下降三角形迫在眉睫：SHIB 会跌还是飞？SHIB 的 3 天图表上出现了下降三角形。这种模式通常表明潜在的价格下跌，因为资产的价格在支撑线和阻力线汇聚之间受到挤压。 SHIB 持有者面临的一个大问题是：价格会跌破支撑位并继续下跌，还是会克服重力并突破三角形，引发上涨趋势？需求下降引发对柴犬的担忧 SHIB 见证了熊市的火上浇油需求大幅下降。 Santiment的数据揭示了一个令人担忧的趋势：SHIB的日活跃地址在过去一个月里暴跌了50%以上。这表明用户群正在萎缩，交易量可能会下降，这可能会给价格带来下行压力。 新投资者对 SHIB 的冷落 加入 SHIB 阵营的新地址急剧下降进一步打击了人们的情绪。根据链上数据，同期每天创建的用于交易 SHIB 的新地址数量急剧下降 51%。缺乏新鲜血液进入市场可能会加剧抛售压力。 SHIB的高估值：抛售的根源？引起担忧的另一个因素是SHIB的市值与已实现价值（MVRV）比率。该指标将当前市场价格与所有 SHIB 代币的平均收购价格进行比较。目前，SHIB的MVRV比率高达38%。当这一比率很高时，表明该资产可能被高估，可能会引发现有持有者套现利润并导致抛售。一线希望？尽管普遍看跌情绪，但 SHIB 仍燃起一线希望。最近，该代币的加权情绪令人惊讶地转为积极，表明市场看法发生了转变。这种新发现的乐观情绪可能会转化为价格突破，无视下降三角形的看跌影响。相关阅读：比特币更新：随着价格暴跌，1.2亿美元的期货被清算SHIB 的价格飙升，达到 0.00003 美元。对于目睹近期价格暴跌的投资者来说，这将是一个可喜的变化。同时，SHIB 的斐波那契回撤水平表明，如果空头继续对其施压，memecoin 的价格可能会进一步下跌 15%，至 0.000018 美元的低点交易。跌破支撑位。SHIB 投资者现在有更多的理由担心，因为这凸显了看跌突破可能产生的影响。精选图片来自 Pexels，图表来自 TradingView