- The Shiba Inu price continued to remain in the red, with SHIB currently down by nearly 3% during the ongoing session.
- SHIB has been extremely bearish during the week, starting with a drop of 2.85% on Monday.
The Shiba Inu price slipped below $0.000030 as sellers continued to dominate the markets. SHIB has been in the red since the beginning of the week, dropping by nearly 3% on Monday. The drop continued on Tuesday, as the price fell by 1.85%. Wednesday saw a more significant drop, with SHIB falling by over 6% and settling at $0.000030. The current session sees SHIB below $0.000030, with the price currently at $0.000029.
Shiba Inu Price Chart Shows Sellers Continuing To Push SHIB Lower
The Shiba Inu price started the previous week on a fairly positive note, rising by over 2% on Monday. However, on Tuesday, SHIB fell back in the red, falling by over 10% and dropping to $0.000034. Wednesday saw the bearish sentiment push SHIB below the 20-day SMA as it dropped to $0.000033 before making a marginal recovery on Thursday. However, the price was back in the red on Friday, falling by 1.13% and settling at $0.000033.
Image: SHIB/USDT daily
After dropping to $0.000033 on Friday, the Shiba Inu price registered a recovery on Friday, rising by 2.34% and moving to $0.000034. However, the price fell back on Sunday, registering a marginal drop and ending the weekend on a bearish note. The week started with the bearish sentiment persisting as SHIB dropped nearly 3% on Monday. The price continued to fall on Tuesday, dropping by 1.85% and then falling by over 6% on Wednesday to sink to $0.000030. The current session saw SHIB slip below $0.000030, with the price presently at $0.000029.
We can see that the MACD has flipped to bearish, indicating that we could see the price drop further.
Looking at IntoTheBlock’s IOMAP for the Shiba Inu price, we can see that SHIB faces strong resistance at around $0.000034. At this price level, over 34,000 addresses have sold more than 9900 billion SHIB.
The 4-hour Shiba Inu price chart shows us that SHIB had dropped to $0.000032 on the 31st. The price pushed back up from this level, rising to $0.000034 on the 2nd and pushing above the 20-bar SMA. With the 20-bar SMA acting as support, SHIB could stay at this level for the next few sessions before falling back below the 20-bar SMA on the 3rd, when the price fell to $0.000033. SHIB then dropped to $0.000032, and from this level, registered a drastic fall to $0.000030 and then dropped to its current level of $0.000029.
We can see that the Parabolic SAR and MACD are both bearish, indicating that we could see the price drop further.
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 week. If the current sentiment persists, we could see SHIB drop below $0.000029.