Shiba Inu appears to be repeating a familiar market structure, according to a recent technical analysis shared by crypto trader IncomeSharks on X. The analyst highlighted how SHIB’s price history over the past two years reflects a cyclical pattern of short-lived rallies followed by prolonged downturns. At the time of writing, SHIB is trading around $0.00001007, showing little momentum to break free from its extended bearish grip.

Is Shiba Inu’s Market Structure Looking Bearish?

The analyst’s daily candlestick timeframe chart, which tracks Shiba Inu’s daily price action since early 2024, presents a visual timeline of its repeated boom-and-bust movements in recent years.

The first major phase came in early 2024 when SHIB experienced a rapid one-month surge, its biggest move du

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