NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Bitcoin Price Slips Below $108,000: Peter Schiff Anticipates ‘Brutal’ Bear Market, CZ Responds
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Bitcoin Price Slips Below $108,000: Peter Schiff Anticipates ‘Brutal’ Bear Market, CZ Responds

Shiba Inu Price Analysis: Bearish Pattern Puts Heavy Load On SHIB Advance

Christian Encila
Christian Encila
2 years ago
3 mins read
Shiba Inu

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

The price of Shiba Inu (SHIB) has experienced a downward trend over the past several days. This corrective phase, marked by declining trading volumes, is shedding light on a potential weakening in bearish momentum.

Interestingly, this price action aligns with the emergence of a triangle pattern, a technical phenomenon that often holds significant implications for market trends.

In technical analysis, a triangle pattern refers to a chart pattern formed when the price moves within converging trendlines, creating a triangular shape. This pattern indicates a period of consolidation and indecision in the market, as buyers and sellers reach an equilibrium. 

Typically, this pattern is associated with a temporary pause in the prevailing trend, and it often precedes a significant breakout or breakdown.

Shiba Inu Bearish Pennant Formation

According to a recent price analysis, this triangular sideways movement for SHIB comes on the heels of a substantial price drop, raising suspicions of a bearish pennant pattern taking shape.

Related Reading

MATIC

MATIC Social Sentiment Slides To Negative Territory – What’s The Impact On Price?

2 years ago

A bearish pennant is characterized by a brief consolidation period following a sharp decline in price. During this time, the bearish momentum takes a breather, potentially prolonging the correction trendline.

SHIB price action in the last seven days. Source: Coingecko

A closer examination of the daily chart reveals a notable rejection from the lower trendline of the pattern. This rejection hints at the possibility of a bullish upswing within the confines of the pattern, suggesting that the SHIB price might be gearing up for a potential reversal.

As of the latest data, the current SHIB price stands at $0.00000814 according to CoinGecko, indicating a 2.1% rally over the past 24 hours. In the span of seven days, SHIB has managed to accrue gains of 3.4%. These numbers, against the backdrop of recent market turbulence, hint at a certain level of resilience within the SHIB token.

Implications Of Significant Token Movements

Ali Martinez, a respected crypto trading chart analyst, has drawn attention to a startling development that could impact SHIB’s trajectory. In a post on X, Martinez noted an extraordinary movement: approximately 2 trillion SHIB tokens were rapidly withdrawn from established crypto exchange wallets within the preceding week. This revelation has set off ripples of speculation and discourse within the digital asset community.

#ShibaInu | A staggering 2 trillion $SHIB tokens have been pulled from known #crypto exchange wallets just this past week. pic.twitter.com/MiWMNUp7jY

— Ali (@ali_charts) August 27, 2023

The swift movement of such a significant number of tokens raises questions about the potential implications for SHIB’s position within the broader crypto market. As market participants grapple with the ramifications of this withdrawal, it remains to be seen how this bold maneuver might shape SHIB’s future price action and overall market sentiment.

SHIB market cap currently at $4.7 billion. Chart: TradingView.com

Related Reading

OnlyFans

OnlyFans Parent Company Buys $20 Million Worth of Ethereum – A Boost To ETH Price?

2 years ago

With potential bullish signals emerging within this pattern and the intriguing withdrawal of tokens, the coming days could hold decisive clues about SHIB’s direction in a rapidly changing market environment.

(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).

Featured image from Adobe Stock

Tweet123Share196ShareSend
Christian Encila
Christian Encila

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Read more

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

Close

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

deepseek-ai-predicts-xrp-cardano-pepe-year-end-surge-maxi-doge-100x-tw

DeepSeek AI預測XRP、Cardano與Pepe年底暴漲 Maxi Doge引爆市場百倍幣預期

市場震盪與新預測的誕生,十月的加密市場在政治與經濟的雙重夾擊下出現劇烈震盪。比特幣一度於月初刷新高點,激發了投資人對「Uptober」行情的期待,但隨著美國政府宣布對中國商品徵收百%關稅,整體市場情緒...

Kelvin Lee 5 hours ago
Bitcoin

Bitcoin Holding Above Gaussian Channel, Bull Market Structure Still Intact

Bitcoin is trading around $107,000 after its recent flash crash, maintaining stability to prevent further decline but is yet to...

Scott Matherson 8 hours ago

Bitcoin Capitulation Intensifies As STHs Lose $750 Million Daily — Time To Buy The Dip?

The price performance of Bitcoin over the past two weeks has been a major source of concern, as the coin’s...

Opeyemi Sule 9 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Dogecoin news

Is The Dogecoin Bull Run Over? Analyst Sees Echoes Of 2021

Jake Simmons 1 hour ago
Ethereum Price Reaches Resistance

Ethereum Price Reaches Resistance — Breakout Could Signal Fresh Upside Leg

Aayush Jindal 3 hours ago
Bitcoin Price Stabilizes After Drop

Bitcoin Price Stabilizes After Drop — Early Signs Of Recovery Emerge

Aayush Jindal 5 hours ago

Premium Sponsors

Press Releases

  • イーサリアム 今後の価格動向:$4,232のレジスタンス再試し後に下落、しかし新興格安仮想通貨が10倍の可能性

    イーサリアム...

    1 day ago
  • ビットコイン 今後の価格見通し:下降トライアングル崩壊後、10万5,000ドルを下回る可能性はあるか?

    ビットコイン...

    1 day ago
  • シバコイン 今後はどうなる?価格予測と3日後に終了する注目プレセール

    シバコイン...

    1 day ago
  • パイネットワーク 価格 予測:1ドル以下で注目される次世代の有望仮想通貨が投資家の注目を集める

    パイネットワーク 価格...

    1 day ago
  • ドージコイン 今後:ナスダック報道後の大規模売却、次の大きな動きの前兆か?

    ドージコイン...

    1 day ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.