Shiba Inu Price Prediction: SHIB Recovers Over Weekend, Pushes To $0.000022 

Daily Shiba Inu SHIB Technical Analysis

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Last Updated February 7th 2022
2 Min Read
  • The Shiba Inu price is currently up by over 1% during the ongoing session. 
  • SHIB has registered a significant recovery over the weekend and had pushed up by nearly 7% on Friday. 

The Shiba Inu price pushed above the 20-day SMA during the ongoing session, as buyers look to move SHIB above $0.000022. SHIB had registered a marginal recovery on Thursday and then pushed up by nearly 7% on Friday, rising to $0.000022. SHIB remained in the green over the weekend, rising by 1.40% on Saturday and then pushing above the 20-day SMA during the ongoing session. 

Shiba Inu Price Chart Indicates SHIB Could Push To $0.000023 

The Shiba Inu price started the previous weekend on a bearish note, registering a marginal drop on Friday. The price recovered on Saturday, pushing up by over 2% before dropping back on Sunday and ending the weekend at $0.000021. Monday saw SHIB recover, as the price pushed up by 1.52% and then pushed up by 1.21% on Tuesday before falling back on Wednesday. SHIB fell by nearly 5% on Wednesday, dropping to $0.000020.

Image: SHIB/USDT daily

Image: SHIB/USDT daily chart 020722

After dropping back on Wednesday, the Shiba Inu price recovered on Thursday, registering a marginal recovery. On Friday, the price pushed up significantly, rising by nearly 7% and settling at $0.000022. SHIB remained bullish over the weekend as well, rising by 1.40% on Saturday and moving past the 20-day SMA during the ongoing session, as buyers look to push the price to $0.000023.

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

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 1.49k addresses have sold more than 50t SHIB.

Image: IntoTheBlock 

Image: SHIB/USDT volume chart 020722

The 4-hour Shiba Inu price chart shows us that SHIB had dropped to $0.000020 on the 31st. The price recovered from this level, pushing back above the 20 and 50-bar SMAs and rising to $0.000021. With the 20-bar SMA now acting as support, SHIB was able to stay at this level for the next few sessions before dropping back below the 20 and 50-bar SMAs, falling to $0.000020. SHIB registered another marginal fall from this level but recovered and pushed back above the 20 and 50-bar SMAs, rising to $0.000021 and then moving to $0.000023. The price fell back from this level, dropping to its current level of $0.000022.

We can see that the MACD and Parabolic SAR are both bullish, indicating that we could see the price continue to push higher.

Image: SHIB/USDT 4-hour

Image: SHIB/USDT 4-hour chart 020722

Shiba Inu Price Is Expected To Reach These Levels

Looking at the Shiba Inu price chart, we see that SHIB has been extremely bullish in recent sessions, with the price up almost 2% during the ongoing session. If buyers retain the session, we could see SHIB push above $0.000023.