Shiba Inu Price Prediction: Can SHIB Stay Above $0.000020?

Daily Shiba Inu SHIB Technical Analysis

Last Updated January 24th 2022
3 Min Read
  • The Shiba Inu price continued to drop during the ongoing session as the price slipped below $0.000022. 
  • SHIB has been incredibly bearish in recent sessions and had dropped nearly 16% on Friday. 

The Shiba Inu price continued to remain in the red during the current session and is currently down by over 4%. SHIB had dropped by just over 3% on Thursday before falling by nearly 16% on Friday, slipping below the 200-day SMA and dropping to $0.000022. The weekend saw the bearish sentiment persist, as the price fell by nearly 8% on Friday, dropping to $0.000020, before recovering on Sunday and settling at $0.000022. However, the price is back in the red during the current session, as buyers look to push the price to $0.000020. 

Shiba Inu Price Chart Indicates SHIB Could Drop To $0.000020

The Shiba Inu price began the previous weekend on a fairly positive note, rising by nearly 4% on Friday. On Saturday, the price continued to push, registering a marginal increase, before falling back on Sunday and ending the weekend at $0.000030. The price continued to fall on Monday, dropping by 5.48% to $0.000028 and then registering a further drop of 2.64% and settling at $0.000028. SHIB fell by nearly 3% on Wednesday, as sellers continued to dominate the market, pushing the price down to $0.000027.

Image: SHIB/USDT daily

Image: SHIB/USDT daily chart 012422

The Shiba Inu price remained in the red on Thursday, as it registered a drop of 3.01%, falling to $0.000026. SHIB slipped below the 200-bar SMA on Friday, as the price crashed by nearly 16%, dropping to $0.000022, and then dropped by nearly 8% on Saturday, slipping to $0.000020. Despite the bearish sentiment, the Shiba Inu price was able to register a significant recovery on Sunday, rising by nearly 10% and moving to $0.000022 before falling back during the current session.

We can see that the MACD is currently bearish, but if SHIB can find support at $0.000020 and recover, we could see it flip to bullish.

Looking at IntoTheBlock’s IOMAP for the Shiba Inu price, we can see that SHIB faces strong resistance at around $0.000024. At this price level, over 1.32k addresses have sold more than 48,675 billion SHIB. We can also see support at $0.000021, where over 1.26k addresses have bought over 26,252 billion SHIB.

Image: IntoTheBlock 

Image: SHIB/USDT volume chart 012422

The 4-hour Shiba Inu price chart shows us that SHIB had dipped below the 50-bar SMA on the 17th, dropping to $0.000028. The price continued to drop gradually from this level, dropping to $0.000027 on the 20th. The price recovered from this price level, pushing above the 20-bar SMA and settling at $0.000028. However, SHIB turned bearish after reaching this price level, dropping back below the 20-bar SMA and settling at $0.000025 on the 21st. SHIB continued to drop from this level, falling to $0.000022 on the 22nd, then slipping below the $0.000020 level and falling to $0.000018. However, SHIB made a strong recovery from this level, rising to $0.000023, where the 20-bar SMA was acting as resistance. As a result, the price fell back and dropped to its current level of $0.000021.

We can see that the Parabolic SAR and MACD are both bullish, indicating that we could see the price recover.

Image: SHIB/USDT 4-hour

Image: SHIB/USDT 4-hour chart 012422

Shiba Inu Price Is Expected To Reach These Levels

Looking at the Shiba Inu price chart, we can see that the SHIB has been extremely bearish over the past few sessions and has started the current week in the red as well. However, SHIB has support building at $0.000021, and we could see the price drop to $0.000020 and then stage a recovery.