- The Shiba Inu price is currently up by over 4%.
- SHIB has been extremely bearish in recent sessions and had dropped by nearly 6% on Monday.
The Shiba Inu price is currently up by over 4% as buyers return to the market. SHIB had registered a sharp drop on Friday, as the price dropped by nearly 6%, dropping to $0.000029. The weekend saw SHIB continue to drop on Saturday, as the price fell to $0.000027, before recovering on Sunday, rising by nearly 2% and settling at $0.000028. However, SHIB fell back in the red on Monday, dropping by 5.52% and dropping to $0.000026, before recovering during the current session.
Shiba Inu Price Chart Shows SHIB Could Push Above $0.000028
The Shiba Inu price started the previous week in the red, with SHIB dropping by nearly 3% and falling to $0.000033. On Tuesday, the price continued to fall as sellers remained in control, pushing the price down by almost 2% to $0.000032. Wednesday saw SHIB register a significant drop, as the price fell by over 6% and settled at $0.000030. However, despite the bearish sentiment, SHIB was able to register a marginal increase on Thursday, rising by 1.22%.
Image: SHIB/USDT daily
After Thursday’s marginal increase, the Shiba Inu price fell back in the red on Friday, as SHIB dropped by nearly 6%, settling at $0.000029. The weekend saw SHIB continue to drop, as the price fell by 4.45% and settled at $0.000027. However, SHIB was able to register an increase on Sunday, rising by 1.91% and settling at $0.000028. However, the current week saw SHIB back in the red, dropping by 5.52% to $0.000026, before recovering during the current session.
While the MACD is currently bearish, if SHIB continues to push higher, we could see it flip to bullish.
Looking at IntoTheBlock’s IOMAP for the Shiba Inu price, we see that SHIB has strong support at around $0.000024. At this price level, over 1.59k addresses have bought more than 46,000 billion SHIB.
Image: IntoTheBlock
The 4-hour Shiba Inu price chart shows us that SHIB had dropped to $0.000029 on the 7th. The price continued to remain at this level for the next few sessions before it made a marginal increase and then dropped to $0.000027 on the 8th. SHIB made a strong recovery from this level, rising to $0.000028, where the 20-bar SMA was acting as resistance. As a result, the price fell back, dropping to $0.000026 on the 10th. From this level, SHIB made a strong increase and moved to its current level of $0.000027.
We can see that the MACD is currently bullish, and if the price continues to push higher, we could see the Parabolic SAR flip to bullish as well.
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 registered a fairly strong increase during the current session. If the current sentiment persists, we could see SHIB push to $0.000028 and above.