• Shiba Inu Price Prediction: We've all made gains, now here comes the pain
  • Shiba Inu price falls in free-fall fashion after tagging last week's bullish target zones.
  • Invalidation of the bearish thesis is a breach above $0.00001875. 

Shiba Inu price could witness a sharp decline as multiple forecasts issued a warning of a potential pump and dump underway,

Shiba Inu price follows suit.

Shiba Inu price is continuing to validate technical outlooks forecasted throughout the summer. Last week, a 35% increase was forecasted ahead of time, enabling subscribers a chance to partake in a profitable swing trade. 

However, the same bullish thesis gave a warning to immediately withdraw from the market upon reaching the intended $0.00001700 target zone as the uptrend appeared to be a part of a larger corrective structure. The technicals forecasted potential for a sharp decline once the target was reached.

Shiba Inu price currently trades at $0.00001428. The volume profile indicator shows a large uptick in transactions amidst breaching the bullish target, but the bearish stop candle hovering next to it depicts a concerning signal. 

The bulls have yet to challenge the stop candles’ force, which showed more transactions than the previous consolidation zone, which led the way to a month-long consolidation in July. Additionally, the RSI shows the SHIBA price as more oversold than when the notorious coin traded 150% higher back in February 2022.


SHIB/USDT 1-Day Chart

When combined, Shiba Inu price could be heading south to collect liquidity at the $0.00000975 levels, a 33% decline from today's current value. Invalidation of the bearish thesis is now a closing candler above $0.00001875 until further notice.

Shiba Inu Trade Setup Recap


SHIB/USDT Bullish Trade Setup

Shiba Inu price has recently rallied an impressive 35% in just one day. Throughout the summer, the outlook on Shiba Inu price has been maintained at a short-term bullish stance with targets in the $0.00001400 -0.00001550 area. In last week’s bullish thesis, a 2.7-1 reward to risk trade setup was forecasted.

A volatile spike towards $0.00001300 could be a significant catalyst for higher targets. Invalidation of the uptrend remains at $0.00001150.


Shiba Inu Hodl Thesis

After spotting a bearish divergence on the daily chart, an update was issued which suggested trailing the profitable trade and continuing to aim for higher targets.

“Still, the intended target zone at $0.00001400 is within arms reach. If the target is surpassed, traders may want to consider actualizing the profit as bearish divergences tend to result in liquidations after the fact. Early signs of uptrend weakness will be a break below $0.00001217.”


Shiba Bearish Divergence Thesis

In the following video, our analysts deep dive into the price action of Shiba Inu, analyzing key levels of interest in the market. -FXStreet Team


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Cryptos feed Join Telegram

Recommended content

Recommended Content

Editors’ Picks

Bitcoin: BTC bulls dissipate ahead of big central bank week

Bitcoin: BTC bulls dissipate ahead of big central bank week

Bitcoin (BTC) price tanks in European trading as this volatile week kicks off with surpriseSpanish inflation data. Markets predicted a drop from 5.7% to 4.97%. Instead, inflation jumped to 5.8%. This confirms what central bankers have been shouting throughout the past few weeks and what markets have been ignoring. Is reality catching up this week?

More Bitcoin News

Is this the bullish signal that Ethereum holders are waiting for?

Is this the bullish signal that Ethereum holders are waiting for?

Ethereum, the second-largest blockchain, hit a new milestone on January 27, nearly four months after its transition to a new consensus mechanism. Over 15.9 million ETH tokens have been staked on the Beacon Chain. 

More Ethereum News

Ripple: XRP in dire need of nearby support in order to avoid imploding

Ripple: XRP in dire need of nearby support in order to avoid imploding

Ripple (XRP) price is facing a big test this week as traders brace for a series of punches that could see bulls hanging on the ropes or even knocking them out. A salvo of central banks is set to hit the wires by Wednesday, with each posting their rate hike decision, forecasts and monetary stance against the current economic situation. 

More Ripple News

Dogecoin: Here is why Spanish inflation ensures no speedy recovery for crypto

Dogecoin: Here is why Spanish inflation ensures no speedy recovery for crypto

Dogecoin (DOGE) price action slid lower on Monday after a pure technical break over the weekend of the green ascending trend line, but bulls could not close above it. Unable to get out of the pool in time, traders are set to see the price drop lower in search of the bottom of this tank. 

More Crypto News

Bitcoin: If bulls are back, this is where you can accumulate BTC next

Bitcoin: If bulls are back, this is where you can accumulate BTC next

Bitcoin price shows a lack of momentum after an explosive move in the last three weeks. The fourth week has been relatively silent, without a lot of volatile moves. While BTC consolidates, other altcoins are rallying left and right, providing massive gains.

Read full analysis