$SHIB could be on the verge of a reversal after this pattern gets painted
, one of the most popular meme coins, may be forming a hidden variation of the head and shoulders pattern, providing crucial clues about its future price movement.
Over the past few weeks, Shiba Inu has been traversing a rocky path, with its price seeing numerous ups and downs. Amid this turbulence, the coin has been navigating through significant resistance, struggling to break free from its local bottom. Yet, the emergence of this hidden H&S pattern may signal a potential shift in market sentiment.
Intriguingly, prior to the sell-off, there was a noticeable trend of investors actively depositing PEPE on centralized exchanges. Such a move often signifies an intent to sell, as investors move their assets onto an exchange to take advantage of a potential price surge. However, a recent shift has seen investors withdrawing PEPE, leading to speculation that they may either be bolstering existing positions or buying more tokens.
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