Shiba Inu [SHIB] is currently being side-eyed by the entire crypto market like a man with two left feet at a tango competition. Whales and large holders have been offloading SHIB faster than a hot dog at a dog show. In fact, Shiba Inu shed 11.49% of its value last week-because nothing says “confidence” like a 13.5% slump in the memecoin sector.
Bitcoin [BTC] did a little cha-cha on Friday, 06 February, giving SHIB a brief moment to shine before the bearish bear came out to play. A 19% bounce for BTC turned SHIB’s day into a 22.46% rollercoaster. But let’s be real-the long-term trend is still a one-way ticket to Bearsville, Baby.
Shiba Inu Bounce: A Comedy of Errors
On the 1-day chart, SHIB’s performance is less “triumphant return” and more “I accidentally fell into a bear trap.” The coin hit a fresh swing low, and the recent bounce? Oh, that’s just the market saying, “Let’s pretend this isn’t a dumpster fire.”
The MACD isn’t exactly throwing confetti. It’s deep in bearish territory, sipping a margarita made of tears and regret. The downside? A masterpiece of despair.
Using the most recent nosedive (because why not?), traders plotted Fibonacci retracement levels like it’s a treasure map. Key resistances? $0.00000758, $0.00000817, and $0.000009. These are the “speed bumps” SHIB must conquer-or crash through, preferably with style.
With the market mood darker than a cloud in a coal mine and whales selling like it’s Black Friday, traders are advised to treat any bounce like a free sample at Costco: take it, then run.
The Bullish Case: A Joke With a Side of Risk
Bitcoin took a 38% nosedive in 22 days, which is about as thrilling as watching your grandma lose to Solitaire. Yet, some say it could bounce back to $71k. Sure, why not? Maybe the moon will sprout legs and walk to Mars while we’re at it.
This fantasy could send SHIB to the daily chart’s swing high at $0.00001. But let’s not forget: this is crypto. The only thing more likely than that is a unicorn running for president.
Traders’ Call to Action: Sell the Bounce, You Lunatic!
The weekly SHIB chart has been a bearish opera since June 2025. The 1-day chart? A tragic sonnet. Traders, if you see a bounce, don’t get too excited. This isn’t a magic carpet ride-it’s more like a tricycle with training wheels. Use those retracement levels and imbalances as a sign to sell, or your portfolio will thank you later… in a eulogy.
Final Thoughts
- SHIB’s price action will likely mirror BTC’s in the coming days. Because nothing says “individuality” like following the herd into a cliff.
- A temporary bounce in February? Possible. A bearish comeback? As inevitable as taxes and bad haircuts.
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2026-02-07 11:03