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The post <a rel="nofollow" href="https://coinpedia.org/price-analysis/shib-price-analysis-will-shiba-inu-crash-this-season/">SHIB Price Analysis: Will Shiba Inu Crash This Season?</a> appeared first on <a rel="nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a> 
Failing to find a bullish footing after the sharp bearish reversal in August 2023, the SHIB coin price maintains a declining price trend. Taking a bearish reversal from the psychological mark of 0.00001068, the meme coin price fell by 36% and is currently trading at $0.00000683.&nbsp; 
Meanwhile, the market conditions are volatile, with hopes of better sentiments in October with the Bitcoin ETF decision. Under such weather, the <a href="https://coinpedia.org/price-prediction/shiba-inu-price-prediction/">Shiba Inu price prediction</a> warns a not-so-smooth ride for HODLers.&nbsp; 
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 <img decoding="async" width="1024" height="478" src="https://image.coinpedia.org/wp-content/uploads/2023/10/11140922/SHIBUSDT_2023-10-11_13-51-12-1024x478.png" alt="" class="wp-image-236264" srcset="https://image.coinpedia.org/wp-content/uploads/2023/10/11140922/SHIBUSDT_2023-10-11_13-51-12-1024x478.png 1024w, https://image.coinpedia.org/wp-content/uploads/2023/10/11140922/SHIBUSDT_2023-10-11_13-51-12-300x140.png 300w, https://image.coinpedia.org/wp-content/uploads/2023/10/11140922/SHIBUSDT_2023-10-11_13-51-12-768x359.png 768w, https://image.coinpedia.org/wp-content/uploads/2023/10/11140922/SHIBUSDT_2023-10-11_13-51-12-1536x718.png 1536w, https://image.coinpedia.org/wp-content/uploads/2023/10/11140922/SHIBUSDT_2023-10-11_13-51-12-150x70.png 150w, https://image.coinpedia.org/wp-content/uploads/2023/10/11140922/SHIBUSDT_2023-10-11_13-51-12.png 1952w" sizes="(max-width: 1024px) 100vw, 1024px">
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Taking constant rejections from the 50-day EMA, the lower high formation gives rise to a resistance trendline. Furthermore, a descending support trendline is also noticeable in the daily chart, which completes the falling wedge pattern.&nbsp; 
Completing the negative cycle within this bearish wedge, the <a href="https://coinpedia.org/price-analysis/memecoins-lose-momentum-dogecoin-doge-and-shiba-inu-shib-prices-plunge-aiming-to-hit-the-lower-support/">SHIB coin</a> price approaches the bottom support baseline. Furthermore, the downtrend is approaching the next crucial support level of $0.00000651.&nbsp; 
The <a href="https://coinpedia.org/price-analysis/memecoins-lose-momentum-dogecoin-doge-and-shiba-inu-shib-prices-plunge-aiming-to-hit-the-lower-support/">SHIB price</a> action shows the bears taking over the $0.0000070 crucial psychological support zone. Despite the ongoing downtrend, the possibility of a bullish bounceback is noteworthy because of the upcoming support levels.&nbsp; 
Also Read:<a href="https://coinpedia.org/price-analysis/shib-price-displays-a-bearish-flag-pattern-is-shiba-inu-price-losing-momentum/">SHIB Price Displays A Bearish Flag Pattern! Is Shiba Inu Price Losing Momentum?</a> 
Technical indicators: 
RSI indicator: The daily RSI line fails to surface above the halfway line and falls to test the oversold boundary.&nbsp; 
Exponential Moving Averages: The falling 50-day EMA acts as a dynamic resistance and prolongs the lower high formation in the daily chart. 
<h2 class="wp-block-heading" id="h-will-shib-price-rise-above-0-0000075">Will SHIB Price Rise Above $0.0000075?</h2> 
Considering the buyers are able to reclaim the bullish momentum, the SHIB price may restart a positive trend within the falling wedge. This positive cycle might soon retest the overhead resistance trendline close to $0.00000715.&nbsp; 
More optimistically, the positive cycle may lead to a bullish breakout and lead to $0.0000080. On the flip side, a slide below the support trendline might result in a deep correction phase for the meme coin, potentially leading to $0.0000060. 

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SHIB Price Analysis: Will Shiba Inu Crash This Season?

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