- The Shiba Inu price is currently down by over 2%, as SHIB got off to a sluggish start to the week.
- SHIB had been quite bearish in recent sessions, and market watchers were hopeful of a sustained recovery after a fairly stable week.
The Shiba Inu price slipped to $0.000020, with the possibility that it could slip below this level if sellers continue to dominate the ongoing session. SHIB had been relatively stable over the week, rising by 0.85% on Thursday before registering a marginal drop on Friday and moving to $0.000021. The weekend started on a positive note for SHIB, as it rose by over 2% on Saturday, before dropping back on Sunday, falling by nearly 3% and ending the weekend on a bearish note.
Shiba Inu Price Chart Indicates SHIB Could Stay Above $0.000020
The Shiba Inu price was extremely bearish heading into the previous weekend, dropping by nearly 16% on Friday, slipping below the 200-day SMA and settling at $0.000022. SHIB continued to drop on Saturday, falling by nearly 8% and settling at $0.000020, before recovering on Sunday, rising by over 9% and ending the weekend on a positive note at $0.000022. SHIB was back in the red on Monday, as it dropped by nearly 6%, before registering another marginal drop on Tuesday and settling at $0.000021. Despite the bearish sentiment, SHIB registered a marginal recovery on Wednesday, rising by 0.43%.
Image: SHIB/USDT daily
The Shiba Inu price continued to push higher on Thursday but was able to register only a marginal increase of $0.85%. The price fell back in the red on Friday, dropping by 0.28%, before recovering on Saturday and rising by over 2%, starting the weekend on a positive note. However, SHIB fell back in the red on Sunday, as the price dropped by nearly 3%, falling to $0.000021. Monday saw SHIB continue to drop, with the price currently at $0.000020, with sellers looking to push the price lower.
We can see that the Parabolic SAR is currently bullish, indicating that we could see SHIB recover from its current level.
Looking at IntoTheBlock’s IOMAP for the Shiba Inu price, we see that SHIB has strong support at around $0.000018. At this price level, over 8000 addresses have bought more than 410.65t SHIB.
The 4-hour Shiba Inu price chart shows us that SHIB had dropped significantly on the 24th when the price dropped to $0.000019. SHIB made a strong recovery from this level, rising to $0.000021, then moving past the 20-bar SMA and rising to $0.000022 on the 26th. The price fell back from this level, slipping back below the 20-bar SMA and falling to $0.000020. SHIB pushed back from this level, rising to $0.000021, but could not move past the 20-bar SMA and fell to $0.000020 on the 28th. SHIB made yet another recovery from this level and moved past the 20 and 50-bar SMAs, rising to $0.000022 on the 30th. After reaching this level, the price fell back, slipping below the 20 and 50-bar SMAs, and dropping to its current level of $0.000020.
We can see that the MACD has just flipped to bearish, indicating that we could see the price drop lower.
Image: SHIB/USDT 4-hour
Shiba Inu Price Is Expected To Reach These Levels
The Shiba Inu price chart shows us that SHIB has dropped over the past couple of sessions, with the price down by over 2% during the ongoing session. We could see SHIB recover from its current level of $0.000020 and push to $0.000021. However, if sellers manage to pierce this level, we could see SHIB drop to $0.000019 or its support price of $0.000018.