Shiba Inu Facing A Bear Market? Pundit Shows What To Expect

Shiba Inu appears to be repeating a familiar market structure, according to a recent technical analysis shared by crypto trader IncomeSharks on ￰0￱ analyst highlighted how SHIB’s price history over the past two years reflects a cyclical pattern of short-lived rallies followed by prolonged ￰1￱ the time of writing, SHIB is trading around $0.00001007, showing little momentum to break free from its extended bearish ￰2￱ Shiba Inu’s Market Structure Looking Bearish? The analyst’s daily candlestick timeframe chart, which tracks Shiba Inu’s daily price action since early 2024, presents a visual timeline of its repeated boom-and-bust movements in recent ￰3￱ first major phase came in early 2024 when SHIB experienced a rapid one-month surge, its biggest move during the observed ￰4￱ move took place in just one month and saw the Shiba Inu price break above $0.00004.

However, this bullish stretch was quickly followed by a six-month decline between March and September 2024 that erased much of the ￰5￱ analyst noted that the next significant recovery phase lasted about three months, starting around September 2024 and ending in December, after which SHIB again entered a long-term bearish trend up until the time of ￰6￱ recurring pattern of brief rallies and extended downturns paints a picture of the Shiba Inu price struggling to sustain upward momentum when compared to other ￰7￱ To Expect If The Pattern Continues In his post, IncomeSharks summarized this cycle as “basically a two-year-long bear market that started with a wild pump and one little relief rally.” The statement echoes what the chart above shows: one sharp upward move followed by an extended sequence of red ￰8￱ it stands, Shiba Inu is now into about 11 months of downward price action, making this one of its longest bearish phases to ￰9￱ SHIB’s current trajectory remains consistent with the pattern identified by the analyst, the token could face additional months of consolidation or decline before any significant rebound ￰10￱ also implies that traders hoping for a repeat of any parabolic surges may have to wait longer.

Furthermore, Shiba Inu’s biggest uptrend within the two-year frame lasted just one ￰11￱ means that the next major bullish movement, whenever it happens, could arrive quickly but fade just as fast within a month if selling pressure ￰12￱ behavior is not limited to Shiba Inu; it reflects a wider sentiment that has gripped the entire meme coin market over the past ￰13￱ Dogecoin, the king of meme coins, has struggled to maintain its momentum above $0.2 despite multiple attempts to reclaim its earlier ￰14￱ failed breakout has sent ripples across the meme coin sector, dampening enthusiasm and pulling other tokens like SHIB, PEPE, and FLOKI into similar patterns of prolonged ￰15￱ the time of writing, Shiba Inu is trading at $0.00001007, up by 2.8% in the past 24 hours but down 20% in a 30-day timeframe.