SHIB News: Price Breaks Ascending Trendline, Potential for Further Dips

In a recent development, the price of Shiba Inu [SHIB] has broken its ascending trendline, sparking concerns among investors about potential future dips. Here’s a closer look at what this means for the second largest memecoin.

Shiba Inu Price Breaks Ascending Trendline, Possible Dips Ahead

Shiba Inu’s [SHIB] price broke the ascending trendline that had held since the 5 August crash. This development indicates that the second largest memecoin might experience further dips, potentially reaching its Q1 2024 lows. The uptrend line, which previously supported prices between $0.00001095 and $0.00003315, has dipped to the current $0.00001160-level. The $0.00000837-low from Q1 2024 remains a probable downside target. Technical indicators such as the MACD line, signal line, and histogram all flashed bearish momentum, with the MACD line remaining below the signal line.

AI Predicts SHIB’s Price For March 15th 2025

Shiba Inu (SHIB) is currently struggling at a low price of $0.00001168, noting an 8% fall in the past 7 days and a 28% drop in the last month. Markets are undergoing a temporary corrective phase, according to experts. Notable crypto expert Anthony Pompliano shared that the current market drop is just noise and advised investors to focus on the long-term narrative.

Shiba Inu Trading Volume Surges, Breakout Speculations Mount

A battle brews on the Shiba Inu charts as trading volume soars, prompting speculation about a potential price breakout. Daily trading volume reached $486.25 million, a 57.81% increase. This heightened activity coincided with a significant increase in large transactions often attributed to “whales” – investors holding substantial amounts of the cryptocurrency. Data reveals that large transaction volumes for SHIB jumped by over 150% between March 2 and March 5.

Shiba Inu: Analyst Predicts SHIB To Rally 531% to $0.00007380

2025 started with a bang but the flames seem to have faded. Bitcoin (BTC) climbed to a new peak in January, but has since lost significant traction. Shiba Inu (SHIB) shares a similar fate. The popular dog-themed crypto is red across the board. The coin’s price has dipped 6.1% in the daily charts, 7.9% in the weekly charts, 13.9% in the 14-day charts, 28.7% over the previous month, and 65.8% since March 2024. Cryptocurrencies, including SHIB, took a hit amid macroeconomic tensions as the US announced tariffs on the European Union (EU), Canada, and Mexico, sparking trade wars and hurting investor sentiment.