Experts Call For $0.001 $SHIB , But Can Shiba Inu Price Defy This Bearish Pattern? - CoinGape Analytics

Shiba Inu (SHIB) has been consolidating since the August 5 crash, with a brief surge around August 20 that quickly reversed. Some analysts predict a price increase to $0.001, citing whale activity, with 3 trillion SHIB recently acquired. However, while whale accumulation is positive, it doesn't guarantee a price spike.

On the 4-hour chart, SHIB shows a bearish head and shoulders pattern, indicating a potential drop. If support at $0.00001280 breaks, SHIB could fall 18% to $0.00001000. Alternatively, a bounce could push it toward $0.00001440.

The upcoming Federal Open Market Committee (FOMC) meeting on interest rates could impact SHIB's price, with uncertainty about rate cuts adding to market volatility.