Try to sketch the graphs of both functions and examine the vertical distance between them. Can you move one to coincide with the other?
y=|x|-8 is y=|x| translated 8 units down. The graphs have the same shape.
Practice makes perfect
The graphs of y=|x| and y=|x|-8 have the same shape but are located in different positions. We can see this by graphing both on the same coordinate plane.
Notice that each point on y=|x|-8 is 8 units lower than the corresponding point on y=|x|. As a result, the graph of y=|x|-8 is actually the same as the graph of y=|x| but translated (or shifted) 8 units down.