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Shiba Inu

The post <a rel="nofollow" href="https://coinpedia.org/price-analysis/shib-price-analysis-will-shib-price-crash-to-0-0000065-again/">SHIB Price Analysis: Will SHIB Price Crash To $0.0000065 Again?</a> appeared first on <a rel="nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a> 
Continuing the bear trend in 2023, SHIB price is down by 7.64% in a YTD calculation. Moreover, the <a href="https://coinpedia.org/price-prediction/shiba-inu-price-prediction/">Shiba Inu</a> prices are trading at a discount of 91.65% from its all-time high of $0.00008854. Failing to lead a golden cross, the SHIB prices revert from the 50-day EMA and prolong the ongoing trend.&nbsp; 
With the 50 and 200-day EMA trending lower, the SHIB price action displays a bearish pattern breakout. Will this breakout rally drop Shiba Inu prices by 10% this month?&nbsp; 
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 <img decoding="async" width="1024" height="487" src="https://image.coinpedia.org/wp-content/uploads/2023/09/05105715/SHIBUSDT_2023-09-05_10-57-06-1024x487.png" alt="" class="wp-image-227341" srcset="https://image.coinpedia.org/wp-content/uploads/2023/09/05105715/SHIBUSDT_2023-09-05_10-57-06-1024x487.png 1024w, https://image.coinpedia.org/wp-content/uploads/2023/09/05105715/SHIBUSDT_2023-09-05_10-57-06-300x143.png 300w, https://image.coinpedia.org/wp-content/uploads/2023/09/05105715/SHIBUSDT_2023-09-05_10-57-06-768x365.png 768w, https://image.coinpedia.org/wp-content/uploads/2023/09/05105715/SHIBUSDT_2023-09-05_10-57-06-1536x730.png 1536w, https://image.coinpedia.org/wp-content/uploads/2023/09/05105715/SHIBUSDT_2023-09-05_10-57-06-150x71.png 150w, https://image.coinpedia.org/wp-content/uploads/2023/09/05105715/SHIBUSDT_2023-09-05_10-57-06.png 1952w" sizes="(max-width: 1024px) 100vw, 1024px">
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Maintaining the triangle pattern last month, the SHIB prices broke below the support trendline on the last day. Leading to not just a triangle but also a bearish pennant breakdown, signaling a drop in Shiba Inu market value.&nbsp; 
Creating bearish candles for the last six days, the SHIB prices are down by 10% and trade at $0.00000752. The sudden supply influx at the 23.60% Fibonacci level and the 50-day EMA confluence prove catastrophic for the meme coin.&nbsp; 
Coming to the technical indicators, the MACD and RSI indicators display an increase in bearishness. The MACD and signal lines continue the downtrend after failing a positive crossover. Meanwhile, the RSI line approaches the oversold boundary.&nbsp; 
<h2 id="will-shiba-inu-shib-price-avoid-a-new-2023-low-formation" data-name="will-shiba-inu-shib-price-avoid-a-new-2023-low-formation" class="wp-block-heading">Will Shiba Inu (SHIB) Price Avoid A New 2023 Low Formation?</h2> 
With the ongoing downtrend gaining momentum, the next key support levels for Shiba Inu prices are far away. The SHIB prices may find a reversal spot at $0.0000070 or $0.0000065. However, if the market fails to find any catalyst before the SEC decides on Bitcoin ETF in October, the meme coin is set to find new bottom supports.&nbsp; 
On a positive note, if the SHIB price manages to break above the 50-day EMA, it may resurface above $0.0000090. Moreover, the recovery rally can pump Shiba Inu drastically to potentially reach the overhead resistance of $0.000010.&nbsp;

SHIB Price Analysis: Will SHIB Price Crash To $0.0000065 Again?

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