Shiba Inu Price Analysis: SHIB Drops to $0.000020 After Marginal Fall

Daily Shiba Inu SHIB Price Prediction

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Last Updated January 28th 2022
3 Min Read
  • The Shiba Inu price is currently down by just over 1%, as sellers look to push the price lower. 
  • SHIB had pushed up to $0.000022 on Wednesday but fell back, eventually settling at $0.000021. 

The Shiba Inu price is currently down by over 1%, as sellers look to push the price below $0.000020. SHIB had ended the weekend on a positive note but fell back on Monday, dropping by nearly 6% and settling at $0.000021. SHIB continued to drop on Tuesday, registering a marginal drop of 0.90%. SHIB made a fairly strong start on Wednesday, as it pushed up to $0.000022 but fell back and was able to register only a marginal increase, settling at $0.000021, before dropping back during the ongoing session. 

Shiba Inu Price Chart Indicates SHIB Could Slip Below $0.000020

The Shiba Inu price started the previous week on a highly bearish note, registering a fall of 5.48% on Monday. SHIB continued to drop on Tuesday, falling by 2.64%, and then registering a drop of nearly 3% on Wednesday and settling at $0.000027. Thursday saw SHIB fall by just over 3%, dropping to $0.000026, before slipping below the 200-day SMA on Friday after plummeting by nearly 16% and settling at $0.000022. SHIB continued to drop on Saturday, as sellers drove the price down by almost 8% to $0.000020. 

Image: SHIB/USDT daily

Image: SHIB/USDT daily chart 012822

After dropping to $0.000020 on Saturday, the Shiba Inu price was able to register a significant recovery on Sunday, rising by over 9% and settling at $0.000022. However, Monday saw SHIB back in the red, dropping by nearly 6% and settling at $0.000021, and then registering a marginal drop of 0.90% on Tuesday. SHIB registered a strong start on Wednesday, rising to $0.000022, but fell back drastically, and eventually settled at $0.000021, registering only a marginal increase of 0.43%. The current session sees SHIB back in the red, with the price down to $0.000020.

We can see that the MACD and Parabolic SAR are both currently bearish, indicating that 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 $0.000018. At this price level, over 20,000 addresses have bought more than 411 trillion SHIB.

Image: IntoTheBlock 

Image: SHIB/USDT volume chart 012822

The 4-hour Shiba Inu price chart shows us that SHIB had pushed up to $0.000028 on the 20th, pushing above the 20-bar SMA. SHIB could not stay at this level and dropped back, slipping below the 20-bar SMA and settling at $0.000025. The price continued to drop from this level and slumped to $0.000018 on the 22nd. SHIB made a strong recovery from this level, as it pushed up to $0.000023, where the 20-bar SMA acted as resistance. As a result, SHIB dropped back, falling to $0.000019 on the 24th. SHIB was able to make a strong recovery from this level, rising to $0.000021 and then pushing above the 20-bar SMA and rising to $0.000022 on the 26th. SHIB fell back in the red after reaching this level, dropping back below the 20-bar SMA to $0.000020 and then recovering and moving to its current level.

We can see that the MACD and Parabolic SAR are both currently bullish, indicating that we could see the price push higher.

Image: SHIB/USDT 4-hour

Image: SHIB/USDT 4-hour chart 012822

Shiba Inu Price Is Expected To Reach These Levels

Looking at the Shiba Inu price chart, we can see that buyers and sellers are struggling to retain control of the ongoing session. If sellers retain the session, we could see SHIB slip below $0.000020. However, if buyers manage to retake the session, we could see SHIB push back to $0.000021 and above.