{"id":39987,"date":"2025-08-01T14:01:54","date_gmt":"2025-08-01T14:01:54","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=39987"},"modified":"2025-08-01T14:01:54","modified_gmt":"2025-08-01T14:01:54","slug":"shiba-inu-tanks-6-but-inverted-hammer-offers-hope-to-bulls","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=39987","title":{"rendered":"Shiba Inu Tanks 6% But &#8216;Inverted Hammer&#8217; Offers Hope to Bulls"},"content":{"rendered":"<div>\n<p>Shiba inu (SHIB) dropped sharply early Friday as President Donald Trump&#8217;s new tariffs weighed on market leader bitcoin and strengthened the U.S. dollar. The price chart still offers bullish hints.<\/p>\n<p>SHIB crashed 6% in a brutal 24-hour selloff from July 31, 13:00 to August 1, 12:00, plummeting from $0.000013 to $0.000012. Prices hit their lowest since July 9, extending the downtrend from the July 21 highs near $0.00001600.<\/p>\n<p>The decline follows a surge in the number of SHIB held on centralized exchanges. The tally surged to 84.9 trillion tokens on July 28, indicating potential whale distribution despite $63.7 million accumulation of 4.66 trillion SHIB, according to CoinDesk&#8217;s market insights model. Meanwhile, the burn rate explodes 16,700% as 602 million SHIB tokens destroyed in coordinated transactions.<\/p>\n<h2>Key AI insights for the past 24 hours<\/h2>\n<ul>\n<li>Price rejection at the $0.000013 resistance triggered a high-volume distribution phase.<\/li>\n<li>The support base was solidified at $0.000012 with 1.19 trillion tokens of buying interest.<\/li>\n<li>Breakout volume of 90.51 billion catalyzed a move above $0.000012 barrier.<\/li>\n<\/ul>\n<h2>What next?<\/h2>\n<p>Despite the recent slide, the technical outlook appears constructive, thanks July&#8217;s &#8220;inverted bullish hammer&#8221; candle.<\/p>\n<p>The inverted hammer comprises a long upper wick, a small body and a largely absent lower wick. The shape indicates that while the bulls initially took prices higher, sellers eventually overpowered and pushed prices nearly back to the starting point of the period.<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/cdn.sanity.io\/images\/s3y3vcno\/production\/b0dd144a5a48a418fac75589353cc34177953b2b-2854x1292.png?auto=format\" alt=\"SHIB. (TradingView)\" title=\"SHIB. (TradingView)\"><\/p>\n<p>When the pattern appears after a notable downtrend, as in SHIB&#8217;s case, it indicates that the bulls are looking to reassert themselves in the market. Hence, the pattern represents an early sign of an impending bullish trend reversal higher.<\/p>\n<p>SHIB traders, however, need to note that a drop below the July low of $0.00001108 would invalidate the bullish candlestick pattern.<\/p>\n<p><strong><em>Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to <a href=\"https:\/\/www.coindesk.com\/ethics\">our standards<\/a>. For more information, see <a href=\"https:\/\/www.coindesk.com\/coindesk-news\/2023\/04\/14\/how-coindesk-will-use-generative-ai-tools\">CoinDesk&#8217;s full AI Policy<\/a>.<\/em><\/strong><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Shiba inu (SHIB) dropped sharply early Friday as President Donald Trump&#8217;s new tariffs weighed on market leader bitcoin and strengthened the U.S. dollar. The price chart still offers bullish hints. SHIB crashed 6% in a brutal 24-hour selloff from July 31, 13:00 to August 1, 12:00, plummeting from $0.000013 to $0.000012. Prices hit their lowest [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-39987","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/39987","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=39987"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/39987\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=39987"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=39987"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=39987"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}