SHIB Price Prediction: For over a week, the Shiba Inu price has been hovering above the monthly support of $0.00000996, indicating an indecisive sentiment in the market. However, this support is also the lower band of a bearish flag pattern indicating this memecoin is poised for a prolonged downfall. Here’s how this pattern may affect the future trend of the Shiba Inu coin.
Key Points:
In theory, the bearish flag is a downtrend continuation pattern that offers a short break before the price continues to fall further
The Shiba Inu price escape from the consolidation phase will determine this future trend.
The intraday trading volume of the Shiba Inu coin is $104.5 Million, showing a 10% gain.
Source- Tradingview
Considering the aggressive fall in the Feb to Early March, the last two months’ consolidation in the daily time frame chart shows the formation of an inverted flag pattern. Under the influence of this pattern, this consolidation phase is temporary and the sellers are lik
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