While much of the cryptocurrency industry is in a downturn, the popular dog-themed meme coin Shiba Inu (SHIB) is no exception as it has been recording declines on all of its recent price charts, and machine learning and artificial intelligence (AI) algorithms are not inspiring optimism.
Indeed, crypto winds seem to have slowed down for most digital assets of late, including Shiba Inu, which is currently the 13th largest asset in the crypto sector by market cap, despite recent innovations in the form of the launch of the ShibTorch burning portal on the Shibarium network.
In other words, if this forecast, based on indicators such as Bollinger Bands (BB), Relative Strength Index (RSI), Moving Weighted Average (MWA), Average True Range (ATR) and others, comes true, SHIB will trade 2.48% lower than at the time of publication, according to data as of August 19.
Meanwhile, cryptocurrency trading expert Alan Santana has predicted a strong upward move for the Shiba Inu breed in the upcoming 2025 bull market, setting its price at a new all-time high (ATH) of $0.00023179, taking into account its accumulation phases, as reported by Finbold on August 17.
However, it has recently emerged that SHIB is facing pressure from futures sellers given that Coin glass The Crypto Derivatives Visual Screener chart of SHIB Open Interest (OI) versus price shows short positions being opened, signaling that traders are expecting further declines.
Shiba Inu Breed Price Analysis
SHIB is currently trading at $0.00001333, reflecting a decline of 1.51% over the past 24 hours, a drop of 4.92% over the previous seven days, and an accumulation of a loss of 25.16% over the past month, although a gain of 29.41% year-to-date.
Ultimately, SHIB may continue to experience bearish moves (or no bullish moves) by the end of this month, although the market may still appreciate the positive changes in its ecosystem. Regardless, doing your own research and keeping up with any news about SHIB is crucial when investing in this crypto asset.
Disclaimer: The content of this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
