Shiba Inu Price Analysis: SHIB Continues To Drop, Slips Below $0.000028

Daily SHIB Technical Analysis

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Last Updated January 19th 2022
3 Min Read
  • The Shiba Inu price continued its bearish week, dropping by 2.64% on Tuesday. 
  • The current session sees SOL marginally down, as buyers and sellers look to take control of the session. 

The Shiba Inu price has been bearish since the weekend, after registering only a marginal increase on Saturday. On Sunday, the price fell back, dropping by 1.10% and ending the weekend at $0.000030. Monday saw SHIB continue to drop, falling by 5.48% and settling at $0.000028 before another drop of 2.64% took the price down to $0.000028 on Tuesday. The current session sees SHIB at $0.000027, as sellers look to drive the price further. 

Shiba Inu Price Chart Indicates SHIB Could Drop To $0.000025 

The Shiba Inu price dropped by 4.45% on Saturday (8th), getting off to a bearish start to the weekend. However, the price recovered on Sunday, rising to $0.000028, before falling back on Monday and settling at $0.000026, registering a drop of 5.52%. However, SHIB made a strong recovery on Tuesday, rising by 3.52% and then surging by almost 14%, pushing past $0.000030 and settling at $0.000031 on Wednesday. Despite the bearish sentiment, Thursday saw SHIB back in the red, as the price fell by almost 6% and settled at $0.000029.

Image: SHIB/USDT daily

Image: SHIB/USDT daily chart 011922

After dropping by almost 6% on Thursday, the Shiba Inu price recovered on Friday, rising by almost 4% and moving to $0.000030. SHIB was able to register only a marginal increase on Saturday, with the 20-day SMA coming into play as resistance. As a result, the price fell back on Sunday, dropping by 1.10%. SHIB continued to drop on Monday, dropping by 5.48% to $0.000028, and then registering another drop of almost 3% on Tuesday. The current session sees SHIB at $0.000027, and with the Parabolic SAR bearish, we could see the price drop further.

Looking at IntoTheBlock’s IOMAP for the Shiba Inu price, we see that SHIB has strong support at around $0.000025. At this price level, over 14,000 addresses have bought more than 48,600 SHIB.

Image: IntoTheBlock 

Image: SHIB/USDT volume chart 011922

The 4-hour Shiba Inu price shows us that SHIB had pushed up to $0.000031 on the 13th. However, the price fell back from this level, dropping to $0.000029, before pushing back up and rising back to $0.000031. SHIB registered a marginal drop to $0.000030 from this level, where the 20-bar SMA came into play as support and pushed the price to $0.000031. After reaching this level, the price turned bearish, dropping below the 20-bar SMA and falling to $0.000030. SHIB could not move back above the 20-bar SMA and dropped below the 50-bar SMA on the 17th when the price dropped to $0.000029. SHIB continued to drop from this level, dropping to $0.000028 and then falling to its current level of $0.000027.

The MACD and Parabolic SAR are both bearish, indicating that the price could drop further.

Image: SHIB/USDT 4-hour

Image: SHIB/USDT 4-hour chart 011922

Shiba Inu Price Is Expected To Reach These Levels

Looking at the Shiba Inu price chart, we see that SHIB has been bearish throughout the current week. If the current bearish sentiment persists, we could see the price drop to $0.000025, where it could find support.