The once dominant Shiba Inu (SHIB) is enduring a severe cryptocurrency downturn, seeing a significant 26% price reduction in the last month. Current data indicates the meme token is trading at $0.00001476, with a market capitalization of around $8.7 billion. Despite a slight 1.35% increase in the past 24 hours, SHIB’s general trend remains bearish, indicative of larger market concerns. Related Reading: Chainlink Activity Spikes—2,300 Fresh Addresses In Last 7 Weeks Whale Exodus Endangers Shiba Inu Stability Despite concerns over bearish indicators, some analysts spot optimism in SHIB’s price action. Crypto specialist Javon Marks highlighted an Inverse Head & Shoulders pattern, a formation that typically signals a potential price reversal. According to Marks’ estimate, this configuration might raise SHIB by 400%, bringing its value to $0.000081. However, considering the state of the market today, such projections require careful interpretation. $SHIB (Shiba Inu) prices maintaining the structure of a large Inverse Head & Shoulder and with the $0.000081 target still in play, an over 402% run to reach it could come out of this! https://t.co/WwgfDoTpcU pic.twitter.com/wuZ6c2yrlY — JAVON⚡️MAR ..
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