Shiba Inu experienced a period of price consolidation lasting two weeks. There have been times when the coin has rallied but overall, the price action over the past 14 days has largely been in a consolidation phase. However, the coin may experience another 15% drop before it rallies. Here are some highlights:

• SHIB formed a descending triangular pattern in the last weeks which could lead to a breakout.

• The coin will need to have enough trading volume to reach this

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• SHIB may dip by at least 15% before enough demand is generated for a bull run.

Data Source: TradingView

How far can SHIB travel?

At the moment, it looks like SHIB will need a few days more to consolidate further. It will fall, yes, but there isn’t much to be concerned about. If anything, the 15% drop will bring SHIB within an important demand zone. This could be the catalyst for SHIB to continue its strong uptrend.

Besides, SHIB is still not far from its lowest price since the May sell-off. In fact, if the meme coin was to drop by another 15%, it would be more or less within that price range. This means that there is very little downside to this moment.

It is possible that the coin is nearing the end the May bear cycle, and is therefore ready for a decisive Bull Run.

Is SHIB dangerous right now?

The risk is very low as we speak. We don’t anticipate any major sell-offs of the meme coin in the near term. The volatile nature of SHIB is likely to continue, despite the fact that investor sentiment continues to struggle to pick up.

Nonetheless, SHIB could offer at least 25% in gains in June before it pulls back. As for long-term investors, improved sentiment in the market could push 3x growth by the end of 2022.