Shiba Inu Price Analysis: SHIB Unable To Move Past $0.000036

Daily Shiba Inu Price Prediction

By
Last Updated December 9th 2021
3 Min Read
  • The Shiba Inu price has been unable to move past $0.000036 all week. 
  • SHIB had dropped to this level on Saturday, after registering a drop of almost 10%. 

The Shiba Inu price failed to push past $0.000036, as the price registered a marginal drop during the ongoing session. SHIB had dropped to this level on Saturday and then registered another marginal drop on Sunday. The price pushed up on Monday but fell back on Tuesday, dropping by 1.41%. The price fell back on Wednesday, rising by over 2%, but fell back during the ongoing session. 

Shiba Inu Price Chart Indicates SHIB Unable To Move Past $0.000036 

The Shiba Inu started the previous week on a very bullish note, as the price pushed up by over 15% on Monday. Tuesday saw another increase that pushed SHIB above the 20 and 50-day SMAs as it rose to $0.000047. However, after reaching this level, the price turned bearish, dropping by almost 7% on Wednesday and slipping below 20 and 50-day SMAs. SHIB continued to drop on Thursday and Friday, falling by 4.40% and 4.29%, respectively, to drop to $0.000040. 

Image: SHIB/USDT daily chart 120921

Image: SHIB/USDT daily

After dropping to $0.000040 on Friday, the Shiba Inu price dropped significantly over the weekend, as the price fell by almost 10% on Saturday, dropping to $0.000036, before registering another marginal drop on Sunday. The price pushed up on Monday, rising by 1.52%, but fell back on Tuesday, registering a drop of 1.41%; Wednesday saw another recovery, as SHIB rose by over 2%, before falling back during the ongoing session.

We can see that the Parabolic SAR is still 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 $0.000034. At this price level, over 6600 addresses have bought more than 42,730 SHIB.

Image: SHIB/USDT volume chart 120921

Image: IntoTheBlock 

The 4-hour Shiba Inu price chart shows us that SHIB had risen to $0.000053, pushing above the 200-bar SMA. the price fell back from this level, as it dropped to $0.000049, slipping back below the 200-bar SMA. The price continued to drop from this level, slipping below the 20-bar SMA and settling at $0.000044. With the 50-bar SMA acting as support, SHIB was able to stay at this level for the next few sessions before dropping below the 50-bar SMA on the 3rd and falling to $0.000034 on the 4th. The price fell marginally to $0.000034 from this level before pushing above the 20-bar SMA on the 7th and moving to $0.000037.

Currently, we can see that SHIB is at $0.000036, with the MACD currently bullish. However, if the price drops, we could see it flip to bearish.

Image: SHIB/USDT 4-hour chart 120921

Image: SHIB/USDT 4-hour

Shiba Inu Price Is Expected To Reach These Levels 

The Shiba Inu price chart shows that SHIB has not registered any significant movement during the ongoing week. SHIB has strong support at around $0.000034; we could see SHIB drop to this level before recovering.