Shibu Inu, fondly known as SHIB experienced a significant decline in its price after reaching the all-time high prices on October 28, 2021. In the wake of conflicted technical setups, this digital currency has dropped by nearly 60% in the last 4 weeks.
Furthermore, the latest decline in the prices of the virtual assets has resulted in the substantial drop of its USDT on Binance leading to weak retail interest.
The SHIB community appeals to the army of retail traders to help and re-establish the rally record of the assets which was recorded at $0.00008854 (more than 535%) at the beginning of the year.
With this significant downfall in the prices, the market capitalization of the SHIB has slipped to $21.30 billion in merely five days (beginning from Friday).
According to Google’s keyword search showed that this digital asset has experienced declining interest in its market with the score dropping down from 100 to 20 in the time – frame of 12 months.
According to market analysts and experts, the SHIB channel appears more like a bull flag comprising the entire bullish continuation indicator as this decline was preceded by strong upward movement.
Usually, the traders set their upside target equivalent to the final height of the previous trend which is called flagpole which is the assumption that the instrument will break above the last flag range.
Thus, the potential of the SHIB is expected to rally as high as $0.00005100 as its flagpole’s height.