Shiba Inu Price Prediction: Is A Price Crash Coming?

Key Insights:

• The short-term Shiba Inu price prediction is around $0.0000123. However, its long-term outlook stays neutral until it holds the $0.0000115 level.
• SHIB could decline by another 12% to reach the $0.0000115 level.
• This bearish outlook has attracted $1.82 million short positions at the $0.0000146 level.

Shiba Inu price prediction is a key topic following the announcement of new auto tariffs. This paused the crypto market’s upside move and shifted it to the bearish side.

Earlier this month, SHIB, the native token of Shiba Inu, broke out of an inverted head and shoulders pattern. This breakout signaled a shift to a bullish trend.

Why is the Shiba Inu Price Declining?

The ongoing trade war is affecting market sentiment. The recent auto tariff announcement adds to the pressure. Together, these factors are creating a negative outlook.

Market sentiment continues to struggle under these conditions. Along with SHIB, major cryptocurrencies have failed to maintain their bullish outlook and turned bearish.

Experts have assured us that Shiba Inu price prediction is the same. It trades below the four-hour chart’s 200 Exponential Moving Average (EMA). Traders and investors use this indicator to determine whether an asset is in an uptrend or a downtrend.

The meme coin broke through all its key support levels throughout the four hours. It is now on track for another 12% decrease, perhaps reaching the critical level of $0.0000115.

Meanwhile, on the weekly timeframe, SHIB remains above the critical support level of $0.0000115. This has historically acted as a price reversal or rebound point.

However, if this key level is breached, the meme coin could decline by another 50%. This could potentially reach the $0.00000615 level.

The bearish outlook may change if the coin’s price rises significantly. Closing a weekly or four-hour candle above $0.000014 could confirm the shift.

For now, the short-term Shiba Inu price prediction was around $0.0000123. On the other hand, its long-term outlook remains neutral as long as it holds above the $0.0000115 mark.

At press time, Shiba Inu was trading near $0.0000133, registering a price decline of over 8% in the past 24 hours.

During the same period, its trading volume fell sharply by 50%. This suggests reduced participation from traders and investors compared to the previous day.

Shiba Inu Traders’ Bearish Outlook

Intraday traders are showing increased bearish sentiment. They have placed significant bets on the short side of the market. This activity follows a negative outlook regarding Shiba Inu price prediction.

Traders are doubtful about the potential for a swift price recovery. Many believe that Shiba Inu price will struggle to rebound in the near term. The overall market mood remains pessimistic based on current positions.

Coinglass data reveals traders are over-leveraged at $0.0000146 on the upside. This indicates a significant level of risk in the market. The total short positions amount to $1.82 Million. Such positioning reflects bearish sentiment among traders.

Meanwhile, on the downside, $0.0000132 is another over-leveraged level. There, traders have built only $67.63K worth of long positions. This on-chain metric indicates that bulls are exhausted while bears dominate the meme coin.