- Shiba Inu price is falling on a steep decline.
- Elliott wave fractal could forecast a sweep of the lows event.
- Invalidation of the bearish downtrend is a breach at $0.00002225
Shiba Inu price could set up a massibe bulltrap in the coming weeks. Traders and investors could benefit from being aware of this this very possible macro scenario.
Shiba Inu price has good and bad news
Shiba Inu price is inching towards the all-time lows at $0.00000510 that occurred in September of 2021. Because the price is only 50% away from the level, calculating a scenario on how the liquidity hunt could occur could save long-term investors from financial devestation. Shiba Inu price has fractal waves within the daily and weekly chart that contract for short periods before sending the popular meme coin into a straight-lined rally.
Using the fractal wave projection, Shiba Inu price action could retrace 50-70% higher towards the $0.00001600. That's the good news. This also confounds with the ooverall market sentiment a counter trend rally is highly anticipated since this week's devastating sell-off. The bad news is the next corrective rally could be a bridge between the final leg down within the unfolding zigzag c wave set to breach the lows. The price targets for the final c leg down lie at $0.00000570, $0.00000350 and $0.00000185
SHIB/USDT 1-Day Chart
Still, there is always room for alternate counts and sudden changes in price action. The best invalidation for the bearish scenario will be a breach above $0.00002225. If this were to occur, the zigzag impulse would be deemed terminated. The bulls could reconcile the trend and aim for $0.00003800, resulting in a 275 % increase from the current Shiba Inu price.
SHIB/USDT 1-Day Chart
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Litecoin Price Prediction: LTC tries to retake $100 resistance as miners halt sell-off
Litecoin price grazed 105 mark on Monday, rebounding 22% from the one-month low of $87 recorded during last week’s market crash. On-chain data shows sell pressure among LTC miners has subsided. Is the bottom in?
Bitcoin fails to recover as Metaplanet buys the dip
Bitcoin price struggles around $95,000 after erasing gains from Friday’s relief rally over the weekend. Bitcoin’s weekly price chart posts the first major decline since President-elect Donald Trump’s win in November.
SEC Commissioner Hester Pierce sheds light on Ethereum ETF staking under new administration
In a Friday interview with Coinage, SEC Commissioner Hester Peirce discussed her optimism about upcoming regulatory changes as the agency transitions to new leadership under President Trump’s pick for new Chair, Paul Atkins.
Bitcoin dives 3% from its recent all-time high, is this the cycle top?
Bitcoin investors panicked after the Fed's hawkish rate cut decision, hitting the market with high selling pressure. Bitcoin's four-year market cycle pattern indicates that the recent correction could be temporary.
Bitcoin: 2025 outlook brightens on expectations of US pro-crypto policy
Bitcoin price has surged more than 140% in 2024, reaching the $100K milestone in early December. The rally was driven by the launch of Bitcoin Spot ETFs in January and the reduced supply following the fourth halving event in April.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.