Shiba Inu Price Prediction: Can SHIB Push To $0.000040?

Daily Shiba Inu Technical Anlaysis

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Last Updated December 24th 2021
4 Min Read
  • The Shiba Inu price has been extremely bullish during the current week and had pushed to $0.000038 on Thursday. 
  • The current session has seen SHIB register a marginal drop. 

The Shiba Inu price fell back during the current session, registering a marginal drop. SHIB had started the week on a reasonably positive note, rising by 1.46% on Monday before pushing up by over 5% on Tuesday and settling at $0.000032. SHIB continued to push higher on Wednesday, rising above the 20-day SMA and settling at $0.000035. The price then registered an increase of over 10%, settling at $0.000038, before a marginal drop during the ongoing session. 

Shiba Inu Price Chart Indicates Buyers And Sellers Struggling To Control Current Session 

The Shiba Inu price started the previous week on a bearish note, dropping by over 10% on Monday. On Tuesday, the price recovered, rising by over 3% and settling at $0.000033. The price fell back on Wednesday, registering a marginal drop, before falling by over 3% on Thursday and settling at $0.000032. Friday saw SHIB continue to drop, falling by nearly 5%, before recovering on Saturday, rising by 0.83%. However, Sunday saw SHIB back in the red, falling by over 2% and settling at $0.000030.

Image: SHIB/USDT daily

SHIB/USD daily chart 122421

After dropping to $0.000030 on Sunday, the Shiba Inu price recovered on Monday, rising by 1.46% and settling at $0.000031. The price continued to increase on Tuesday, rising by over 5% and settling at $0.000032. Wednesday saw SHIB move above the 20-day SMA, settling at $0.000035 before another increase of over 10% on Thursday saw SHIB rise to $0.000038. The current session has seen a marginal drop, as sellers look to push the price back down to $0.000035.

We can see that the Parabolic SAR is currently bearish, indicating that the price could drop.

Looking at IntoTheBlock’s IOMAP for the Shiba Inu price, we see that SHIB has strong support at around $0.000035. At this price level, over 19,000 addresses have bought more than 58,142 billion SHIB.

Image: IntoTheBlock 

SHIB/USD volume chart 122421

The 4-hour Shiba Inu price chart shows us that after reaching $0.000031 on the 19th, SHIB fell back to $0.000028 on the 20th. The price pushed up significantly from this level, rising to $0.000031, pushing above the 20-bar SMA. The price continued to push higher from this level and moved past the 50-bar SMA on the 21st, rising to $0.000032. SHIB surged from this level, rising to $0.000037, but with the 200-bar SMA acting as resistance at this level, the price fell back to $0.000035. SHIB recovered from this level, pushing above the 200-bar SMA on the 24th and rising to $0.000039 before dropping to $0.000038.

We can see that the Parabolic SAR and MACD are bullish, but if the price continues to drop, we could see them flip to bearish.

Image: SHIB/USDT 4-hour

SHIB/USD 4-hour chart 122421

Shiba Inu Civil War Going On?

Ask The Doctor, a Canadian healthcare company that recently became a Shiba Inu promoter, singled out the account of Shiba army member and project lead Shytoshi Kusama, accusing them of also being a scammer.

In a flurry of controversy, Ask The Doctor stated that Shiba Inu is a scam, is headed to zero, and that the project was preparing for a rug pull. None of the claims were backed by evidence. The medical agitator stated that a lawsuit was pending so that the identity of the person behind the prominent Shiba Inu account ‘Shytoshi Kusama’ would soon be revealed.

The firm tweeted:

"We will begin our initial lawsuit filing against @Shibtoken and @ShytoshiKusama. t’s our obligation to protect the crypto community from these potential scammers. We will get their identities.”

Following the threat, Shytoshi Kusama counter-punched with a thinly-veiled legal threat of their own. 

“Tell your legal team that it is illegal to buy a verified account to use it to scam other people. Tell them it is illegal to take people’s money for a service you never provide. And if you REALLY want to come and get me…COME GET ME. It’s almost time anyway… I’m ready.”

After having shed around 10,000 followers in 24 hours, Ask The Doctor deleted all accusatory tweets.

Shiba Inu Price Is Expected To Reach These Levels

Looking at the Shiba Inu price chart, we see that SHIB has dropped during the current session. If sellers can retain control of the session, we could see SHIB drop to its support level of $0.000035.