- The Shiba Inu price continued to drop over the weekend, slipping below the support level of $0.000037.
- SHIB had registered a drop of almost 10% on Saturday, as it fell to $0.000036.
The Shiba Inu price continued to drop over the weekend, as the marketwide selloff pushed the price significantly down. SHIB had dropped by over 4% on Thursday and by a further 4.29% on Friday to end the day at $0.000040. The weekend saw the bearish sentiment intensify, as the price fell by almost 10% to $0.000036. SHIB remained in the red on Sunday, as the price registered a marginal drop. The current session sees SHIB still in the red, with sellers looking to drive the price lower.
Shiba Inu Price Chart Indicates SHIB Could Recover From $0.000034
The Shiba Inu price had registered a significant drop on Friday (26th) when the price dropped to $0.000038. The price pushed up marginally over the weekend, as it rose to $0.000039 but fell back on Sunday. Monday saw SHIB push up by almost 16%, as the price moved to $0.000045, pushing above the 20 and 50-day SMAs on Tuesday and settling at $0.000047. However, after reaching this level, the price fell back on Wednesday, dropping below the 20 and 50-day SMAs and settling at $0.000044.
Image: SHIB/USDT daily
After dropping below the 20 and 50-day SMAs, the Shiba Inu price continued to drop, falling by 4.40% on Thursday. Friday saw the price continue to drop, as SHIB fell by another 4.29% and settled at $0.000040. The bearish sentiment persisted over the weekend, with SHIB falling below $0.000040 on Saturday, dropping by almost 10%, and settling at $0.000036. On Sunday, the price remained in the red as SHIB registered a marginal drop. The current session sees SHIB down to $0.000035, with sellers looking to push the price even lower.
We can see that the Parabolic SAR is currently bearish, indicating that the price could drop. However, SHIB has strong support at $0.000034, so we could see the price recover.
Looking at IntoTheBlock’s IOMAP for the Shiba Inu price, we see that SHIB has strong support at around $0.000034. At this price level, over 6500 addresses have bought more than 42,542 SHIB.
The 4-hour Shiba Inu price chart shows us that SHIB had pushed up significantly on the 29th, as the price pushed above the 20 and 50-bar SMAs, rising to $0.000053. At this level, the 200-bar SMA was acting as resistance, and the price dropped to $0.000041, slipping below the 20-bar SMA on the 2nd. SHIB was able to stay at this level for the next few sessions, thanks to the 50-bar SMA acting as support, but fell below it on the 3rd, dropping to $0.000035. With strong support at $0.000034, SHIB maintained this level and is currently still at $0.000035.
We can see that the Parabolic SAR is currently bullish. If the price can recover from $0.000034, we could see the MACD flip to bullish.
Image: SHIB/USDT 4-hour
Shiba Inu Price Is Expected To Reach These Levels
Looking at the Shiba Inu Price chart, we see that SHIB has strong support at $0.000034. If the price can recover from this level, we could see it push to $0.000040. However, if sellers pierce the support levels, then we could see SHIB drop to $0.000030.