- The Shiba Inu price is currently up by almost 4%, pushing to $0.000026.
- SHIB had been extremely bearish during the previous week and had dropped to $0.000023 on Sunday.
The Shiba Inu price registered a fairly strong recovery during the ongoing session, as buyers look to push the price higher. SHIB was extremely bearish during the previous week and had registered a marginal drop on Friday before dropping by 2.17% on Saturday, falling to $0.000027. Sunday saw the bearish sentiment intensify as SHIB fell below all three SMAs, dropping to $0.000025 before recovering during the ongoing session.
Shiba Inu Price Chart Indicates SHIB Struggling To Move Past $0.000026
The Shiba Inu price was quite bearish at the start of the previous weekend, dropping by almost 7% on Friday. SHIB recovered on Saturday, rising by 1.53%, and then registered an increase of 3.40% on Sunday to end the weekend at $0.000030. The week started with SHIB dropping by almost 2% before making a strong recovery on Tuesday, pushing up by nearly 6% and settling at $0.000031. However, SHIB was back in the red on Wednesday, dropping by just over 1% and settling at $0.000030.
Image: SHIB/USDT daily
The Shiba Inu price remained in the red on Thursday, falling by almost 9% and falling to $0.000028 and then registering a marginal drop of 0.35% on Friday. SHIB continued to drop over the weekend, falling by 2.17% and settling at $0.000027, then falling by over 7% on Sunday, going below all three SMAs and settling at $0.000025. Despite the bearish sentiment, SHIB recovered during the ongoing session, with the price currently at $0.000026.
We can see that the MACD is currently bearish, indicating that we could see the price drop from its current level.
Looking at IntoTheBlock’s IOMAP for the Shiba Inu price, we see that SHIB has strong support at around $0.000025. At this price level, over 14,000 addresses have bought more than 53t SHIB.
More On Shiba Inu: Is It Better To Invest Or Trade Shiba Inu?
The 4-hour Shiba Inu price chart shows us that SHIB had pushed up to $0.000031 on the 16th. The price fell back marginally, dropping below the 50-bar SMA and falling to $0.000030. However, SHIB was able to make a strong recovery from this level, pushing past the 50-bar SMA and moving to $0.000032. However, after reaching this point, SHIB turned bearish and fell back significantly, dropping below the 20 and 50-bar SMAs and dropping to $0.000028 on the 18th. SHIB registered a marginal recovery from this level but fell back, dropping to $0.000027 and then dropping to $0.000025, dropping below the 200-bar SMA on the 21st. SHIB made a strong recovery from this level, pushing back above the 200-bar SMA, rising to $0.000027, before dropping to its current level of $0.000026.
We can see that the Parabolic SAR and MACD are bullish, but if SHIB continues to drop, we could see them flip to bearish.
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 made a fairly strong recovery during the current session, although sellers have pushed the price down. If buyers can maintain the bullish sentiment, we could see SHIB push to $0.000027. However, if sellers manage to retake the session, SHIB could drop below $0.000026.