In addition to the bearish flag pattern, the increase in the supply of SHIB on exchanges is also a warning sign indicating that the price of Shiba Inu could enter a pronounced bearish trend. Santiment's data shows that, in just one month, this supply has increased from 139 trillion to 141 trillion dollars, indicating that 2 trillion tokens have entered the exchanges.
The tokens deposited on the exchange platforms are worth more than 28 million dollars at the current price of SHIB. This increase in supply has a negative impact on the price due to the weak current demand. This situation raises the likelihood that SHIB could drop to $0.000050 in the short term.
Considering this bearish technical outlook represented by the bearish flag pattern and the increase in SHIB supply, it is clear that the short-term forecast is negative and traders should anticipate further losses unless an unexpected bullish catalyst emerges.
