The meme coin Shiba Inu (SHIB) is sending alarming signals. A dangerous bearish pattern is forming on the charts, while exchanges have seen an inflow of 2 trillion tokens in just one month. If the trend doesn’t reverse, SHIB could fall as low as $0.0000050 — erasing its 2024 gains entirely.
Warning on the Chart: Bear Flag Signals Further Drop
On the weekly chart, SHIB is forming a classic bear flag pattern, a technical structure known for preceding significant price declines. This pattern is confirmed when the price breaks below the lower support line, signaling the continuation of the downtrend.
If SHIB breaks below this key support, the next target would be the 123.6% Fibonacci retracement level, which sits at $0.0000050. This would undo all the progress made since the beginning of 2024.
A Glimmer of Hope, But It's Weak
There’s still a chance for a reversal — but it hinges on bulls pushing SHIB above the upper trendline and breaking through resistance at $0.000021. If that happens, it could invalidate the bearish setup and signal a return of positive momentum.
For now, though, the indicators remain cautious. The Relative Strength Index (RSI) stands at 46, suggesting bearish control. The MACD is still in negative territory, though a recent crossover above the signal line hints at a possible buying signal.
It remains to be seen whether buyers will step in to change the tide.
2 Trillion SHIB Tokens Moved to Exchanges = Selling Pressure Builds
On-chain data from Santiment adds more pressure. In the last month, SHIB’s exchange supply rose from 139 trillion to 141 trillion tokens — meaning 2 trillion SHIB have been moved to exchanges.
At the current price, these tokens are worth more than $28 million, and the move suggests a readiness to sell. With weak demand, this rising supply could weigh heavily on price. Unless a bullish catalyst appears, SHIB is at serious risk of dropping toward the $0.0000050 zone.
One-Minute Summary
Shiba Inu is flashing warning signs. A bearish flag pattern is forming, and 2 trillion tokens have been sent to exchanges in just one month. With low demand and negative technical signals, traders are bracing for a potential drop to $0.0000050. A bullish breakout remains possible — but for now, the momentum is clearly against SHIB.
🤔 Will Shiba Inu stay afloat, or is another drop inevitable?
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