Shiba Inu Price Prediction: SHIB Drops Back In The Red, Slips Below $0.000030

Daioy Shiba Inu SHIB Technical Anlaysis

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Last Updated February 15th 2022
3 Min Read
  • The Shiba Inu price is back in the red during the ongoing session, as sellers look to push SHIB lower. 
  • SHIB was fairly positive over the weekend and had pushed up to $0.000030 on Sunday. 

The Shiba Inu price fell back during the current session, starting the week on a bearish note and falling to $0.000029. SHIB had registered a significant drop on Friday, falling by nearly 7% to $0.000028. The price recovered over the weekend, rising by 1.53% on Saturday, then over 3% on Sunday to end the weekend at $0.000030, before dropping back during the ongoing session. 

Shiba Inu Price Chart Indicates Buyers And Sellers Struggling To Take Control 

The Shiba Inu price started the previous weekend on a bullish note, rising by almost 7% on Friday and then registering a marginal increase on Saturday. SHIB surged on Sunday as the price pushed up nearly 27%, pushing past the 20 and 200-day SMAs and ending the weekend at $0.000028. SHIB remained bullish on Monday, rising by over 14%, pushing past the 50-day SMA, and rising to $0.000032. Despite the bullish sentiment, SHIB fell back on Tuesday, falling by almost 5% before recovering on Wednesday, rising by 6.40% and moving to $0.000032.

Image: SHIB/USDT daily

Image: SHIB/USDT daily chart 021522

The Shiba Inu price fell back in the red on Thursday, dropping by over 6% to $0.000030, and then falling by nearly 7% on Friday to drop to $0.000028. At this level, the 50-day SMA was acting as support, and SHIB recovered over the weekend, rising by 1.53% on Saturday and then rising by over 3% on Sunday to end the weekend at $0.000030. The current session sees SHIB marginally up as buyers and sellers struggle to establish control.

We can see that the MACD is currently bullish, indicating that we could see the price push higher.

IntoTheBlock’s IOMAP for the Shiba Inu price shows us that SHIB has strong support at around $0.000029. At this price level, over 31,000 addresses have bought more than 14t SHIB.

Image: IntoTheBlock 

Image: SHIB/USDT volume chart 021522

The 4-hour Shiba Inu price chart shows us that SHIB had pushed up to $0.000034 on the 8th. The price fell back from this level, falling to $0.000030 before recovering and rising to $0.000033. SHIB fell back from this level and fell to $0.000032 on the 10th, before slipping below the 20-bar SMA and dropping to $0.000031. SHIB continued to drop from this level, dropping to $0.000028 on the 12th. At this level, the 50-bar SMA acted as support, and SHIB was able to push to $0.000029 and then move past the 20-bar SMA and rise to $0.000031. The price fell back from this level, dropping below the 20 and 50-bar SMAs and moving to its current level of $0.000030.

We can see that the MACD has just flipped to bullish, while the Parabolic SAR is also bullish, indicating that we could see the price recover.

Image: SHIB/USDT 4-hour

Image: SHIB/USDT 4-hour chart 021522

Shiba Inu Price Is Expected To Reach These Levels

Looking at the Shiba Inu price chart, we can see that SHIB has pushed back to $0.000030 as buyers and sellers look to establish control of the ongoing session. If buyers can take control, we could see SHIB push above $0.000030. However, if sellers take control, SHIB could drop below $0.000029.