{"id":169587,"date":"2023-10-06T22:12:40","date_gmt":"2023-10-06T16:42:40","guid":{"rendered":"https:\/\/dripp.zone\/news\/bearish-pattern-signals-shib-price-heading-to-0-000005-crypto-news\/"},"modified":"2023-10-06T22:12:43","modified_gmt":"2023-10-06T16:42:43","slug":"bearish-pattern-signals-shib-price-heading-to-0-000005-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/bearish-pattern-signals-shib-price-heading-to-0-000005-crypto-news\/","title":{"rendered":"Bearish Pattern Signals SHIB Price Heading to $0.000005 &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div id=\"post-160936\">\n<p>\nA bearish breakdown from the pennant patterns sets the SHIB price for extended correction; time to sell?\t\t\t\t<\/p>\n<p><!--\n     \n\n<div class=\"marketThumbs\">\n             <noscript><img width=\"1200\" height=\"681\" src=\"https:\/\/coingape.com\/wp-content\/uploads\/2023\/10\/LMYF5LPU-e1696609087520.png\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"SHIB\" decoding=\"async\" fetchpriority=\"high\" \/><\/noscript><\/div>\n\n\n--><\/p>\n<p class=\"MarketsUp f-14 d-block\">Published 5 seconds ago  <\/p>\n<div class=\"SocialMarketS d-flex position-static\">\n<div class=\"Socilsm\">\n<div class=\"LinksSo p-0\">\n                    <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.me\/share\/url?url=https:\/\/coingape.com\/markets\/is-shib-price-headed-to-0-000005\/&#038;text=Is SHIB Price Heading to $0.000005? 50 Days Chart Pattern Gives a Hint\" class=\"TeleS\"><i class=\"fa fa-paper-plane-o\"\/><\/a><br \/>\n                    <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/share?url=https:\/\/coingape.com\/markets\/is-shib-price-headed-to-0-000005\/\" class=\"tw_new_logo\"><br \/>\n<img loading=\"lazy\" decoding=\"async\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" class=\"mb-1\" alt=\"coingape\" width=\"18\" height=\"18\" data-lazy-src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/08\/14164721\/x-logo.png\"\/><noscript><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/08\/14164721\/x-logo.png\" class=\"mb-1\" alt=\"coingape\" width=\"18\" height=\"18\"\/><\/noscript><br \/>\n<\/a><br \/>\n                    <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer\/sharer.php?u=https:\/\/coingape.com\/markets\/is-shib-price-headed-to-0-000005\/\" class=\"TeleSFb\"><i class=\"fa fa-facebook\"\/><\/a>\n                    <\/div>\n<\/p><\/div>\n<p>                    <!-- \n\n<div class=\"m-on\">\n<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.bydfi.com\/invite?ru=6FPHxM&f=coingape\" class=\"add-container border-chnage ml-2\"> <img loading=\"lazy\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\"http:\/\/www.w3.org\/2000\/svg\"%20viewBox='0%200%20150%2040'%3E%3C\/svg%3E\" alt=\"Bonus\" decoding=\"async\" class=\"image-ads\" width=\"150\" height=\"40\" data-lazy-src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/08\/25122123\/bonus.png\"><noscript><img src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/08\/25122123\/bonus.png\" alt=\"Bonus\" decoding=\"async\" loading=\"lazy\" class=\"image-ads\" width=\"150\" height=\"40\"><\/noscript>\n    <\/a>\n<\/div>\n\n -->\n                <\/div>\n<div class=\"Atcs\">\n<p><span style=\"font-weight: 400\">After witnessing a substantial decline from mid-August to September, followed by a period of sideways movement, the Shiba Inu coin outlined an <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/markets\/bearish-pattern-in-play-puts-shib-price-risk-10-drop\/\">inverted pennant pattern<\/a> on its daily chart. Recognized as a bearish continuation pattern, this formation typically allows sellers to regain control, ushering in an extended correction phase. A recent breach from the pattern\u2019s support hints at a further descent below $0.000007.<\/span><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.72.1 --><\/p>\n<p>Also Read: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/shiba-inu-admin-profile-hack-all-you-should-know\/?utm_source=sidebartabnews\">Shiba Inu Admin Profile Hack, All You Should Know<\/a><\/p>\n<h2><b>Pennant Pattern Sets a 10% drop<\/b><\/h2>\n<ul>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Completion of the inverted pennant pattern should accelerate the supply pressure.<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">The $0.000007 and $0.00000644 are strong supports.<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">The intraday trading volume of the Shiba Inu coin is $64.5 Million, showing a 2.5% gain.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\"><img decoding=\"async\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" alt=\"TradingView Chart\" data-lazy-src=\"https:\/\/s3.tradingview.com\/snapshots\/l\/LMYF5LPU.png\"\/><noscript><img decoding=\"async\" src=\"https:\/\/s3.tradingview.com\/snapshots\/l\/LMYF5LPU.png\" alt=\"TradingView Chart\"\/><\/noscript>Source- <\/span><span style=\"font-weight: 400\">Tradingview<\/span><\/p>\n<p><span style=\"font-weight: 400\">On October 5th, the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/price\/shiba-inu\/\">Shiba Inu price<\/a> confirmed a bearish breakout beneath the pennant pattern\u2019s support trendline. Conventionally, this movement would signify an impending bearish run, reinforcing sellers\u2019 dominance in the market.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Yet, the breakout candle\u2019s modest trading volume, coupled with a lack of substantial follow-through, points to potential fragility in the bearish momentum. Thus, investors contemplating shorting might want to await a suitable follow-up before entering.<\/span><\/p>\n<blockquote>\n<p><span style=\"font-weight: 400\">If this <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/meme-coin\/\">memecoin<\/a> shows sustainability below the breached support, it\u2019s plausible that the price could tumble, aiming for a 10% decrease to reach $0.000001065, and potentially even dropping to $0.00000105.<\/span><\/p>\n<\/blockquote>\n<p><span style=\"font-weight: 400\">Despite this seemingly grim outlook, a broader perspective reveals that this correction is nested within a larger <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/education\/falling-wedge-pattern-what-to-do-if-it-appears-on-a-crypto-chart\/\">falling wedge pattern<\/a>. Here, the price is confined between two converging trendlines, resulting in a gradually narrowing downward drift.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">For those with a bullish stance on this dog-themed meme coin, it\u2019s advisable to await a decisive breakout above the wedge\u2019s resistance trendline as confirmation of a trend shift.<\/span><\/p>\n<h2><b>SHIB vs DOGE Performance<\/b><\/h2>\n<p><span style=\"font-weight: 400\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-160938\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" alt=\"SHIB VS doge\" width=\"1200\" height=\"675\" data-lazy-src=\"https:\/\/coingape.com\/wp-content\/uploads\/2023\/10\/mmm-e1696608792297.png\"\/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-160938\" src=\"https:\/\/coingape.com\/wp-content\/uploads\/2023\/10\/mmm-e1696608792297.png\" alt=\"SHIB VS doge\" width=\"1200\" height=\"675\"\/><\/noscript>Source: Coingape| Dogecoin Vs Shiba Inu Price<\/span><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.72.1 --><\/p>\n<p><span style=\"font-weight: 400\">A retrospective analysis over the past half-year for both Dogecoin and Shiba Inu indicates a consistent bearish trajectory. However, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/price\/dogecoin\/\">Dogecoin price<\/a> appears to be at a pivotal juncture, hovering precariously near its prior swing low support of $0.24. While this robust support level has the potential to catalyze a notable Doge rally, adverse broader market sentiments might push it beneath this threshold, paving the way for a significant pullback.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400\"><b>Super Trend: <\/b><span style=\"font-weight: 400\">The red film projected in the daily chart reflects a bearish trend in play.<\/span><\/li>\n<li style=\"font-weight: 400\"><b>Moving Average Convergence Divergence: <\/b><span style=\"font-weight: 400\">A bullish alignment between the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/glossary\/macd-moving-average-convergence-divergnece\/\">MACD<\/a>(blue) and signal(orange) accentuates the weakness in bearish momentum.<\/span><\/li>\n<\/ul><\/div>\n<div class=\"MarketBottm\">\n<div class=\"Socilsm\">\n<p>\n                    Share this article on:<\/p>\n<div class=\"LinksSo\">\n                    <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.me\/share\/url?url=https:\/\/coingape.com\/markets\/is-shib-price-headed-to-0-000005\/&#038;text=Is SHIB Price Heading to $0.000005? 50 Days Chart Pattern Gives a Hint\" class=\"TeleS\"><i class=\"fa fa-paper-plane-o\"\/><\/a><br \/>\n                    <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/api.whatsapp.com\/send?text=https:\/\/coingape.com\/markets\/is-shib-price-headed-to-0-000005\/\" data-action=\"share\/whatsapp\/share\" class=\"TeleSwp\"><i class=\"fa fa-whatsapp\"\/><\/a><br \/>\n                    <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/share?url=https:\/\/coingape.com\/markets\/is-shib-price-headed-to-0-000005\/\" class=\"tw_new_logo\"><br \/>\n<img loading=\"lazy\" decoding=\"async\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" class=\"mb-1\" alt=\"coingape\" width=\"18\" height=\"18\" data-lazy-src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/08\/14164721\/x-logo.png\"\/><noscript><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/08\/14164721\/x-logo.png\" class=\"mb-1\" alt=\"coingape\" width=\"18\" height=\"18\"\/><\/noscript><br \/>\n<\/a><br \/>\n                    <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer\/sharer.php?u=https:\/\/coingape.com\/markets\/is-shib-price-headed-to-0-000005\/\" class=\"TeleSFb\"><i class=\"fa fa-facebook\"\/><\/a>\n                    <\/div>\n<\/p><\/div>\n<\/div>\n<div class=\"TabDicA\">\n<div class=\"TBAcon \">\n<div class=\"authorFlip tabcS\" id=\"TabA160936\">\n<div class=\"authorBox\">\n<div class=\"author_Name\">\n<!--\n                                      \n\n<div class=\"getAuthoname\">\n                                          \n                                                                                 \n                                       <\/div>\n\n \n--><\/p>\n<p>Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading                         <\/p>\n<\/p><\/div>\n<div class=\"author_Image\">\n                                             <img loading=\"lazy\" alt=\"\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" data-lazy-srcset=\"https:\/\/secure.gravatar.com\/avatar\/a533fdcf650a1d3d3b6a452bcef2d18a?s=400&#038;d=mm&#038;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\" data-lazy-src=\"https:\/\/secure.gravatar.com\/avatar\/a533fdcf650a1d3d3b6a452bcef2d18a?s=200&#038;d=mm&#038;r=g\"\/><noscript><img loading=\"lazy\" alt=\"\" src=\"https:\/\/secure.gravatar.com\/avatar\/a533fdcf650a1d3d3b6a452bcef2d18a?s=200&#038;d=mm&#038;r=g\" srcset=\"https:\/\/secure.gravatar.com\/avatar\/a533fdcf650a1d3d3b6a452bcef2d18a?s=400&#038;d=mm&#038;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\"\/><\/noscript>                                       <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"TabDesCm tabcS\" id=\"TabD160936\">\n<p>  The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n<p>     <!--           <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/category\/price-analysis\/\" class=\"closeArticle2 close-btn\">Close Story<\/a>--><\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A bearish breakdown from the pennant patterns sets the SHIB price for extended correction; time to sell? Published 5 seconds ago After witnessing a substantial decline from mid-August to September, followed by a period of sideways movement, the Shiba Inu coin outlined an inverted pennant pattern on its daily chart. Recognized as a bearish continuation [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":169588,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[188,183,185,186,187,184,189,150,182,190],"class_list":["post-169587","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-blockchain-tech","tag-blockchain-technology","tag-crypto-technology","tag-cryptocurrency-technology","tag-metaverse-technology","tag-nft-technology","tag-soul-bound-token","tag-tech","tag-technology","tag-token-technology"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/169587","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=169587"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/169587\/revisions"}],"predecessor-version":[{"id":169589,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/169587\/revisions\/169589"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/169588"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=169587"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=169587"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=169587"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}