- The Shiba Inu price is currently down by over 9% and is at $0.000022.
- SHIB had dropped to $0.000020 but has since managed to push back up, looking to reverse the bearish sentiment.
The Shiba Inu price remained in the red during the ongoing session, as bearish sentiment pushed the price down considerably. SHIB had started the week in the red, dropping by almost 6% on Monday. SHIB managed to recover on Tuesday, rising by 3.74% and moving to $0.000024, before dropping back in the red on Wednesday, falling by 0.36%. The current session sees SHIB at $0.000022 as the price looks to push higher.
Shiba Inu Price Chart Indicates SHIB Struggling To Push Past $0.000022
The Shiba Inu price had started the previous week in the red, dropping by almost 2% on Monday. SHIB recovered on Tuesday, rising by almost 6% and moving to $0.000031. However, Wednesday saw SHIB back in the red, dropping by 1.02%, before crashing on Thursday, falling by nearly 9% and settling at $0.000028. SHIB remained in the red on Friday as well, registering a marginal drop of $0.35%.
Image: SHIB/USDT daily
The Shiba Inu price remained bearish over the weekend, dropping by 2.17% on Saturday and settling at $0.000027. Sunday saw SHIB register a significant drop, falling by over 7%, slipping below the 20, 200, and 50-bar SMAs and settling at $0.000025. The bearish sentiment persisted on Monday, as SHIB dropped almost 6% before recovering on Tuesday, rising by almost 4% and moving to $0.000024. SHIB registered a marginal drop on Wednesday before falling drastically during the ongoing session, with the price down by nearly 10%.
We can see that the MACD is currently bearish, indicating that we could see the price drop further.
Looking at IntoTheBlock’s IOMAP for the Shiba Inu price chart, we can see that SHIB faces strong resistance at around $0.000024. At this price level, over 3.6k addresses have sold more than 51t SHIB.
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The 4-hour Shiba Inu price chart shows us that SHIB had dropped to $0.000027 on the 19th. The price continued to drop from this level, falling to $0.000025, where the 200-bar SMA acted as resistance. SHIB recovered from this point and pushed up to $0.000027, where the 20-bar SMA acted as resistance. As a result, the price fell back, dropping below the 200-bar SMA and falling to $0.000023 on the 22nd. SHIB registered a strong recovery from this level, surging past the 20 and 200-bar SMAs and moving to $0.000026. However, SHIB turned bearish after reaching this price and fell back below the 20 and 200-bar SMAs, dropping to $0.000021 before moving to its current level of $0.000022.
We can see that the MACD is currently bearish, but if SHIB continues to push higher, we could see it flip to bullish.
Image: SHIB/USDT 4-hour
Shiba Inu Price Is Expected To Reach These Levels
Looking at the Shiba Inu price chart, we can see that SHIB has been extremely bearish during the ongoing session, hitting an intraday low of $0.000020. However, the price has since managed to gain some ground and push to $0.000022, although it remains in the red. If SHIB can recover, we could see it move towards $0.000025. However, if the price continues to drop, SHIB could drop back towards $0.000020.