Shiba Inu (SHIB) Price Dip Warning: 50% Crash Risk?
Shiba Inu (SHIB) experienced an 8% price surge on April 8th, mirroring a broader crypto market recovery. However, bearish patterns on the SHIB chart raise concerns.
Shiba Inu Price Analysis: Potential 50% Crash
Despite recent gains, SHIB trades at $0.0000113 (at press time), having rebounded from a daily low of $0.0000104. A descending parallel channel on the daily chart suggests a bearish trend. A breakout below the lower boundary could trigger a 50% drop to $0.0000055, aligning with the 123.6% Fibonacci retracement level.
To avoid this scenario, SHIB needs to break above the $0.0000157 resistance level (78.6% Fib level). However, indicators like the MACD (showing a sell signal) and the AO histogram (indicating bearish headwinds) paint a less optimistic picture.
A previous Coingape article noted that after hitting a 13-month low, bears are targeting a dip to $0.000009.
Could the Ethereum Pectra Upgrade Help Shiba Inu?
The upcoming Ethereum Pectra upgrade (May 2025) might be a catalyst for SHIB price recovery, according to some analysts. Increased bandwidth for layer-2 networks, like those within the SHIB ecosystem, could lead to lower gas fees and faster transactions. This could also boost SHIB burn rate, currently down 64%.
However, it's crucial to remember that this is speculative. Market conditions are constantly changing.
Frequently Asked Questions (FAQs)
- Q: How much could Shiba Inu’s price potentially drop?
A: A bearish breakout could lead to a 50% price drop to $0.0000055. - Q: What is the potential positive factor for SHIB?
A: The Ethereum Pectra upgrade could benefit SHIB by boosting layer-2 network activity. - Q: What is the key resistance level for SHIB?
A: The immediate resistance level is $0.0000157.
Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Conduct thorough research before investing in cryptocurrencies.
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