- The Shiba Inu price surged by nearly 14% on Wednesday, rising to $0.000031.
- The current session sees SHIB up by nearly 2%, as it looks to move past the 20-day SMA.
The Shiba Inu price pushed up to $0.000032 during the current session, as buyers continue to dominate the market. SHIB had started the week on a bearish note, registering a drop of 5.52% on Monday. However, the price recovered on Tuesday, rising by 3.52% and settling at $0.000027. Wednesday saw SHIB surge by nearly 14%, as it pushed past $0.000030, moving to $0.000031, before pushing to $0.000032 during the current session.
Shiba Inu Price Chart Indicates SHIB Could Push Above 20-Day SMA
The Shiba Inu price spent most of last week in the red, starting with a drop of 2.85% on Monday. SHIB continued to drop on Tuesday, falling by nearly 2% and settling at $0.000032. SHIB registered a significant drop on Wednesday, falling by over 6% and settling at $0.000030, before making a marginal recovery on Thursday. However, the price fell back in the red on Friday, dropping by 5.66%, slipping below $0.000030, and dropping to $0.000029.
Image: SHIB/USDT daily
The Shiba Inu price continued to drop on Saturday, as it fell by 4.45% and settled at $0.000027, before recovering on Sunday and ending the weekend at $0.000028. On Monday, the price fell back in the red, dropping by 5.52% and settling at $0.000026, before recovering on Tuesday and pushing up to $0.000027. The Shiba Inu price surged on Wednesday, rising by nearly 14% and settling at $0.000031. The current session sees SHIB at $0.000032, as buyers look to push the price even higher.
We can see that the MACD has flipped to 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 resistance at around $0.000035. At this price level, over 20,000 addresses have sold more than 59,396 billion SHIB.
The 4-hour Shiba Inu price chart shows us that SHIB had dropped to $0.000027 on the 8th. The price pushed back up from this level, rising to $0.00028, where the 20-bar SMA acted as resistance. As a result, the price fell back, registering a marginal drop and then falling to $0.000026 on the 10th. SHIB made a strong recovery from this level, as the price surged to $0.000027 on the 11th. SHIB pushed above the 20-bar SMA on the 12th, when the price rose to $0.000028 and then continued to push higher, as the price surged above the 50-bar SMA, rising to $0.000031. SHIB continued to move higher from this level and rose to its current level of $0.000032.
We can see that the MACD and Parabolic SAR are both bullish, indicating that the price could push higher.
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 bullish over the past couple of sessions. If the current bullish sentiment persists, we could see SHIB push to $0.000035.