Shiba Inu Price Prediction: SHIB Drops To $0.000026 On Monday, Registers Marginal Recovery During Current Session

Daily Shiba Inu Technical Anlaysis

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Last Updated January 11th 2022
3 Min Read
  • The Shiba Inu price has registered a marginal increase during the current session, 
  • SHIB has been extremely bearish over the past few sessions and had dropped by 5.52% on Monday. 

The Shiba Inu price has registered a marginal increase during the current session, as buyers look to take control of the market. SHIB had dropped by nearly 6% on Friday, falling to $0.000029. The weekend saw SHIB continue to drop, falling by over 4% on Saturday and settling at $0.000027. Despite the bearish sentiment, SHIB was able to register a marginal recovery on Sunday before falling back into the red on Monday, dropping by 5.52% to $0.000026. 

Shiba Inu Price Chart Indicates Buyers Looking To Push SHIB Above $0.000026. 

SHIB had gotten off to a positive start to the previous weekend, rising by 2.34% on Saturday. However, with the 20-day SMA acting as resistance, the price fell back on Sunday, registering a marginal drop and falling to $0.000034. SHIB continued to drop on Monday, falling by nearly 3% to $0.000033. Tuesday saw SHIB continue to drop, falling by nearly 2%, and then dropping by over 6% on Wednesday and falling to $0.000030. The price registered a marginal increase on Thursday despite the bearish sentiment.

Image: SHIB/USDT daily

Image: SHIB/USDT daily chart 011122

After registering a marginal increase on Thursday, the Shiba Inu price fell back in the red on Friday, dropping by 5.66% to $0.000029. The weekend saw the bearish sentiment continue, as SHIB dropped by over 4% on Saturday, falling to $0.000027. However, the price managed to recover on Sunday, rising to $0.000028 after an increase of almost 2%. Monday saw SHIB back in the red, with the price dropping to $0.000026 before registering a marginal recovery during the current session.

We can see that the MACD is currently bearish, but if the price recovers, we could see it flip to bullish.

IntoTheBlock’s IOMAP for the Shiba Inu price shows us that SHIB has support at around $0.000034. At this price level, over 1.48k addresses have bought over 46,000 billion SHIB.

Image: IntoTheBlock 

Image: SHIB/USDT volume chart 011122

The 4-hour Shiba Inu price chart shows us that SHIB had registered pushed up to $0.000031 on the 6th. The price fell back from this level, dropping to $0.000029, and was able to stay at this level until the 8th, when the price rose to $0.000029. However, with the 20-bar SMA coming into play, the price fell back, dropping to $0.000027 and then pushing up and moving to $0.000028. At this level, the 20-bar SMA again pushed the price back down, as SHIB fell to $0.000026. The price made a marginal recovery from this level, rising to $0.000027, before dropping back to its current level of $0.000026.

We can see that the Parabolic SAR and MACD are both bearish, indicating that the price could drop further. However, if SHIB recovers, we could see them flip to bullish.

Image: SHIB/USDT 4-hour

Image: SHIB/USDT 4-hour chart 011122

Shiba Inu Profitability Rate Drops To 44%

The Shiba Inu meme-token has officially ended its reign on the altcoin market by becoming a highly unprofitable token, according to the composition of holders currently making money by holding the asset. 

As IntoTheBlock data suggests, 57% of Shiba Inu holders are not in profit, with 52% holding at a loss and 5% breaking even. Only 44% of token holders are profiting with it, which means their entries were below the current price.