Forecast $SHIB : Further declines are possible

On the daily chart, SHIB has been moving in a descending parallel channel for 30 days. This is a bearish pattern with two descending parallel trend lines reflecting decreasing highs and lows. Such a pattern indicates sustained selling pressure. If SHIB remains in this channel, the price could drop to $0.000018. $ARK $TRX

However, if selling weakens and traders start buying the memecoin, this bearish scenario may not play out. Then the price of SHIB could rise to $0.000025 and even to $0.000033.