Shiba Inu (SHIB) price is dropping today, May 13

However, this SHIB drop may be a temporary setback, as a bull flag pattern and an increase in the burn rate suggest the meme coin may be on the verge of rebounding.

Shiba Inu (SHIB) price is dropping today, May 13, as the entire crypto market sheds its recent gains due to a notable increase in long liquidations. However, this SHIB drop may be a temporary setback, as a bull flag pattern and an increase in the burn rate suggest that the meme coin may be on the verge of rebounding.

At press time, SHIB price trades at $0.0000152, having shed more than 10% in the last 20 hours after dropping from an intraday high of $0.0000175.

At times, this top meme coin might make a massive rebound to the upside after forming a bull flag pattern. However, for SHIB to confirm a bullish reversal, it needs to overcome resistance at the downward sloping resistance, and if this happens, it may spark a 48% rally to $0.000024.

The one-day Shiba Inu price chart shows that this top meme coin might make a massive rebound to the upside after forming a bull flag pattern. However, for SHIB to confirm a bullish reversal, it needs to overcome resistance at the downward sloping resistance, and if this happens, it may spark a 48% rally to $0.000024.

The AO histogram bars have been rising since crossing above the zero line, an indication that the bullish momentum is growing stronger. This suggests that despite the volatility, SHIB has the potential to make additional gains and rally to as high as the 261.8% Fibonacci level of $0.000029.

However, traders need to watch out for the RSI indicator that is now heading south and making a lower high as it teases a crossover below the signal line. If this crossover happens, and the RSI falls below 50, it may accelerate the downward momentum, triggering a bearish Shiba Inu price prediction and a fall to $0.0000126.

Shiba Inu Price Chart

The one-day Shiba Inu price chart shows that this top meme coin might make a massive rebound to the upside after forming a bull flag pattern. However, for SHIB to confirm a bullish reversal, it needs to overcome resistance at the downward sloping resistance, and if this happens, it may spark a 48% rally to $0.000024.

The fib levels suggest that after this move, Shiba Inu price may continue to rise and test the 261.8% fib level at $0.000029.

Moreover, the fib levels suggest that after this move, Shiba Inu price may continue to rise and test the 261.8% fib level at $0.000029.

The fib levels suggest that after this move, Shiba Inu price may continue to rise and test the 261.8% fib level at $0.000029.

The fib levels suggest that after this move, Shiba Inu price may continue to rise and test the 261.8% fib level at $0.000029.

The fib levels suggest that after this move, Shiba Inu price may continue to rise and test the 261.8% fib level at $0.000029.

The fib levels suggest that after this move, Shiba Inu price may continue to rise and test the 261.8% fib level at $0.000029.

The fib levels suggest that after this move, Shiba Inu price may continue to rise and test the 261.8% fib level at $0.000029.

The fib levels suggest that after this move, Shiba Inu price may continue to rise and test the 261.8% fib level at $0.000029.

The fib levels suggest that after this move, Shiba Inu price may continue to rise and test the 261.8% fib level at $0.000029.

The fib levels suggest that after this move, Shiba Inu price may continue to rise and test the 261.8% fib level at $0.000029.

The fib levels suggest that after this move, Shiba Inu price may continue to rise and test the 261.8% fib level at $0.000029.

The fib levels suggest that after this move, Shiba Inu price may continue to rise and test the 261.8% fib level at $0.000029.

The fib levels suggest that after this move, Shiba Inu price may continue to rise and test the 261.8% fib level at $0.00