Shiba Inu Price Prediction: SHIB Unable To Push To $0.000040, Remains At $0.000036

Daily Shiba inu Technical Analysis

Last Updated December 8th 2021
3 Min Read
  • The Shiba Inu price failed to register any significant movement during the current week. 
  • SHIB has been extremely bearish and had fallen by almost 10% on Saturday. 

The Shiba Inu price registered a drop of 4.29% on Friday, as it dropped to $0.000040. The weekend saw the bearish sentiment continue, as SHIB fell by almost 10%, dropping to $0.000036 on Saturday. SHIB continued to drop on Sunday, as it registered a marginal drop on Sunday. Monday saw the price push up marginally before dropping back on Tuesday and falling by 1.41%. 

Shiba Inu Price Chart Indicates SHIB Could Push To $0.000040 

The Shiba Inu price started the previous week extremely bullishly, rising by over 15% and settling at $0.000045. On Tuesday, the price continued to push higher, rising above the 20 and 50-day SMAs and settling at $0.000047. However, after reaching this level, the price fell back, falling by almost 7% on Wednesday and settling at $0.000044. Thursday saw SHIB continue to drop, as it fell to $0.000042, before falling by 4.29% on Friday and settling at $0.000040.

Image: SHIB/USDT daily chart 120821

Image: SHIB/USDT daily

After dropping to $0.000040 on Friday, the Shiba Inu price continued to drop over the weekend, registering a fall of almost 10% on Saturday and dropping to $0.000036. Sunday saw SHIB remain in the red as it registered a marginal drop before recovering on Monday, pushing up by 1.52%. On Tuesday, the price fell back, dropping by 1.41%, but has recovered during the current session, with buyers looking to push the price higher.

We can see that the Parabolic SAR is still bearish, but if the price recovers, we could see it flip to bullish.

Looking at IntoTheBlock’s IOMAP for the Shiba Inu price, we see that SHIB has strong support at around $0.000034. At this price level, over 6600 addresses have bought more than 41,810 billion SHIB.

Image: SHIB/USDT volume chart 120821

Image: IntoTheBlock 

The 4-hour Shiba Inu price chart shows us that SHIB had pushed to $0.000053 on the 30th of November. However, the price fell back from this level, slipping below the 20-bar SMA on the 2nd, settling at $0.000041. The price could stay at this level for the next few sessions before slipping below the 50-bar SMA on the 3rd and settling at $0.000034 on the 4th. With the 20-bar SMA now acting as resistance, SHIB could only push up marginally from this level before falling back to $0.000034. The price recovered from this level, as it pushed above the 20-bar SMA on the 7th, rising to $0.000037, before dropping back to its current level of $0.000036.

We can see that the Parabolic SAR and MACD have both flipped to bullish, indicating that SHIB could push higher.

Image: SHIB/USDT 4-hour chart 120821

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 posted a marginal recovery during the ongoing session. If the current sentiment persists, we could see the price push past $0.000036 and move towards $0.000040.