Shiba Inu (SHIB) Price Prediction: Why August Could Be Risky for SHIB Traders

The Shiba Inu price prediction was bearish based on the technical indicators and futures market sentiment, with $0.00002 a giant obstacle.

Shiba Inu (CRYPTO: SHIB) witnessed a massive price surge last week as its value went up by 13%. However, SHIB's price action turned bearish in the past 24 hours as the memecoin's value dropped by 0.3%.

At the last check on Friday, SHIB was trading at a price of $0.00001514 with a market capitalization of over $8.9 billion.

Shiba Inu price increased by 13% last week but started to trend downward in the last 24 hours. At last check, SHIB price was trading at $0.00001514 on Friday, down 0.3%, with a market cap of over $8.9 billion.

Shiba Inu price has increased by 13%, more in the last seven days. At the time of writing, memecoin was trading at $0.00001514 and its market capitalization exceeded $8.9 billion, making it the 13th largest cryptocurrency.

The recent uptrend signaled a broken falling wedge, indicating the possibility of further price increases in the coming days. However, SHIB's price movement has entered a downward trend in the last 24 hours. The reason for this was the decrease in the value of SHIB.

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