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Shiba Inu (SHIB) Paints Head and Shoulders Pattern: Possible Scenario
The price action of Shiba Inu (SHIB) has recently caught the attention of traders, as it appears to be forming a head and shoulders pattern. This technical formation is often seen as bearish, indicating that the coin’s upward momentum may be losing steam.
As the crypto market continues to experience significant fluctuations, SHIB’s recent price movements have been quite intriguing. The asset has gained around 20% in the past week alone, which could be attributed to various factors such as increased adoption or market sentiment shifts.
Regardless of the underlying reasons, traders should take note that a potential head and shoulders pattern is developing on the SHIB chart. If this trend continues, we may see a sharp drop in the asset’s price.
Source: u.today
