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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?
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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
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