One of the most trending meme coin #Shiba Inu and Doge coin competitor has closed 4 day candle stick on Red now...the downward trend even looks more terrifying.
What's going on, any expert Technical Analyst on this one? Please, I would like to hear our opinions on this one.
I am not sure if Shiba can regain its position in the market after it reaches a high price because the focus of the investors can change to other coins.
The downtrend could continue as bitcoin price is not moving higher but if Shiba is a strong coin like Dogecoin, Shiba can increase again in the future.
The meme coins can end anytime so Shiba, Dogecoin, and other meme coins can not grow in the future but still have a chance to get pumped someday.
But if we look at Shiba's price, it can increase again, but you really need to be careful to play with Shiba because you can wait for a long time before you see the price increase back.