Shiba Inu Technical Analysis: SHIB Continues To Drop, Slips To $0.000031

Daily Shiba Inu Price Anaysis

Last Updated December 20th 2021
4 Min Read
  • The Shiba Inu price fell back into the red during the ongoing session. 
  • The price had registered a marginal increase on Saturday, rising by 0.83%. 

The Shiba Inu price continued to drop as sellers pushed the price down marginally during the ongoing session. SHIB has been extremely bearish lately and had registered a drop of over 3% on Thursday, falling to $0.000032. SHIB continued to drop on Friday, as it fell to $0.000031, before registering a marginal increase on Saturday. However, the current session finds SHIB back in the red, as sellers look to push the price down to $0.000030. 

Shiba Inu Price Chart Indicates SHIB Could Drop To $0.000030 

The Shiba Inu price started the previous weekend in the red, dropping by 3.46% on Friday. However, the price was back in the green over the weekend, as SHIB rose by almost 3% and settled at $0.000034. The price continued to push up on Sunday, as it rose to $0.000036, rising by over 6%. However, Monday saw SHIB back in the red, as the price dropped by over 10%, slipping to $0.000032. Despite the bearish start to the week, SHIB recovered on Tuesday, rising by 3.28% and settling at $0.000033.

Image: SHIB/USDT daily

Image: SHIB/USDT daily chart 122021

After rising to $0.000033 on Tuesday, the Shiba Inu price fell back on Wednesday, registering a marginal drop, before falling by over 3% and settling at $0.000032. Friday saw SHIB continue to drop, falling by almost 5% and settling at $0.000031. The weekend saw SHIB register a marginal recovery on Saturday before falling back in the red during the ongoing session.

We can see that the Parabolic SAR is currently 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 $0.000035. At this price level, over 13,000 addresses have sold more than 59,000 billion SHIB.

Image: IntoTheBlock 

Image: SHIB/USDT volume chart 122021

Looking at the 4-hour Shiba Inu price chart, we can see that SHIB had dropped to $0.000031 on the 13th. The price pushed up from this level, rising to $0.000034. However, SHIB could not move past the 20-bar SMA and dropped to $0.000033 before dropping further from this level and falling to $0.000032 on the 15th. The price recovered from this level, rising to $0.000034, pushing above the 20-bar SMA. However, the price dropped from this level, as the price slipped back below the 20-bar SMA and settled at $0.000031 on the 18th, before rising to $0.000032. From this level, SHIB dropped back to its current level of $0.000031, and while the MACD is bullish, if the price continues to drop, we could see it flip to bearish.

Image: SHIB/USDT 4-hour

Image: SHIB/USDT 4-hour chart 122021

Bitstamp Lists Shiba Inu

Crypto exchange Bitstamp recently confirmed that it would be listing the meme coin Shiba Inu. The exchange had first announced the listing of SHIB that would take place on December 9th, but this had come to a halt after Bitstamp said they were having technical difficulties with listing the digital asset. The listing was then pushed back indefinitely.

In an earlier tweet, the crypto exchange pointed to “technical problems,” which would cause it to take a longer time to list the meme coin. 

"We experienced some technical problems with $SHIB listing, which will result in a longer delay with the launch. We'll keep you posted."

The listing on Bitstamp would have put the meme coin on the largest crypto exchange in the whole of Europe. The exchange recently took to Twitter to assure the Shiba Inu community that it still planned to list the digital asset. It is now a week after the first scheduled listing date, and SHIB is still yet to debut on the platform. 

Bitstamp has addressed the community, assuring them that they still planned to go ahead with the listing of Shiba Inu and that this was only temporary. The firm said:

$SHIB update. 

"No worries, we haven’t changed our minds! As you know, we needed to postpone our #SHIBAINU listing. We’ve been having some technical difficulties with the integration. 

Rest assured it’s happening, but in 2022! Thanks for understanding."

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 over the course of the week. If the current sentiment persists, we could see SHIB drop to its support level of $0.000029.