Shiba Inu Price Analysis: SHIB Looks To Recover After Dropping To $0.000027

Daily Shiba Inu SHIB Price Prediction

By
Last Updated January 20th 2022
3 Min Read
  • The Shiba Inu price dropped to $0.000027 on Wednesday after another hugely bearish week. 
  • The current session has seen a marginal recovery, with the price up over 1%. 

The Shiba Inu price has been in the red all through the week but has registered a marginal increase during the current session. SHIB had ended Sunday at $0.000030 before dropping further on Monday, falling over 5% and dropping to $0.000028. Tuesday and Wednesday saw the bearish sentiment continue, as the price fell by 2.64% and 2.85%, respectively, dropping to $0.000027 before today’s marginal recovery. 

Shiba Inu Price Chart Indicates SHIB Looking To Push back Towards $0.000030 

The Shiba Inu price started the previous week in the red, dropping by 5.52% on Monday. The price recovered on Tuesday, rising to $0.000027, and then surged by almost 14% on Wednesday, rising to $0.000031. However, despite the bullish sentiment, the price fell back on Thursday, dropping by 5.69% to $0.000029. SHIB recovered on Friday, rising by almost 4% and settling at $0.000030.

Image: SHIB/USDT daily

Image: SHIB/USDT daily chart 012022

After pushing up to $0.000030 on Friday, the Shiba Inu price was only able to register a marginal increase on Saturday before dropping back in the red on Sunday and ending Sunday down by 1.10%. SHIB continued to drop on Monday, falling by 5.48% and then dropping by 2.64% on Tuesday, with the price falling to $0.000028. The bearish sentiment persisted on Wednesday, dropping to $0.000027, before making a marginal recovery during the ongoing session.

We can see that the Parabolic SAR is currently bearish, but if the price 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 1.63k addresses have bought more than 46,000 billion SHIB.

Image: IntoTheBlock 

Image: SHIB/USDT volume chart 012022

The 4-hour Shiba Inu price chart shows us that SHIB had pushed up to $0.000031 on the 15th. The price fell back from this level, slipping below the 20-bar SMA and dropping to $0.000030. SHIB could not move back above the 20-bar SMA and fell below the 50-bar SMA on the 17th when the price dropped to $0.000029. SHIB remained bearish after dropping to this level and fell to $0.000027 on the 19th, which is where the price is currently.

We can see that the MACD is currently bullish, indicating that the price could push higher. However, if the price drops, we could expect the bullish Parabolic SAR to flip to bearish. 

Image: SHIB/USDT 4-hour

Image: SHIB/USDT 4-hour chart 012022

Shiba Inu Price Is Expected To Reach These Levels

Looking at the Shiba Inu price chart, we see that SHIB has made a marginal recovery during the ongoing session. If the current sentiment persists, SHIB could push above $0.000028 and move towards $0.000030.