Shiba Inu Technical Analysis: SHIB Continues To Recover, Moves To $0.000028

Daily Shiba Inu Price Analysis

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Last Updated January 13th 2022
3 Min Read
  • The Shiba Inu price continued its recovery, with SHIB up by nearly 4% during the current session. 
  • SHIB had been quite bearish in recent sessions and had dropped by 5.52% on Monday. 

The Shiba Inu price pushed up to $0.000028 during the current session, as buyers look to push the price to $0.000030. SHIB had registered a drop of 4.45% on Saturday, as the price dropped to $0.000027. However, the price recovered on Sunday, rising by 1.91% and moving to $0.000028. SHIB fell back in the red on Monday, as sellers pushed the price down by 5.52% to $0.000026. However, the price recovered on Tuesday, rising by 3.52% and then pushing up to $0.000028 during the ongoing session. 

Shiba Inu Price Chart Indicates Sellers Looking To Push SHIB To $0.000030 

The Shiba Inu price was extremely bearish at the start of the previous week, as it dropped by nearly 3% to $0.000033. The price continued to drop on Tuesday, falling by 1.85$ and settling at $0.000032. SHIB remained in the red on Wednesday, as sellers drove the price down by over 6%, with SHIB dropping to $0.000030. SHIB registered a marginal recovery on Thursday but fell back on Friday, dropping by nearly 6% and settling at $0.000029.

Image: SHIB/USDT daily

Image: SHIB/USDT daily chart 011322

The Shiba Inu price got off to a bearish start to the weekend after dropping to $0.00029 on Friday. SHIB fell by 4.45% on Saturday, as the price dropped to $0.000027. However, Sunday saw SHIB recover, rising by 1.91% and settling at $0.000028. The bearish sentiment returned on Monday, as sellers pushed SHIB down by 5.52% to $0.000026. On Tuesday, the price made a strong recovery, rising to $0.000027 and then pushing to $0.000028 during the current session.

We can see that the MACD is currently bearish, but if the price continues to push higher, we could see it flip to bullish.

Looking at IntoTheBlock’s IOMAP for the Shiba Inu price, we can see that SHIB faces strong resistance at around $0.000031. At this price level, over 27,000 addresses have sold more than 7166 billion SHIB. SHIB also has strong support at around $0.000028, where over 16,000 addresses have bought more than 6192 billion SHIB.

Image: IntoTheBlock 

Image: SHIB/USDT volume chart 011322

The 4-hour Shiba Inu price chart shows us that SHIB had pushed up to $0.000029 on the 8th. The price fell back from this level, dropping to $0.000028, before making a strong recovery from this level and rising to $0.000028. At this level, the 20-bar SMA was acting as resistance, and the price fell back, dropping to $0.000027 and then $0.000026 on the 10th. SHIB surged from this level as the price rose to $0,000027, pushing above the 20-bar SMA and then moving to its current level of $0.000028.

We can see that the Parabolic SAR has flipped to bullish, indicating that we could see the price push higher.

Image: SHIB/USDT 4-hour

Image: SHIB/USDT 4-hour chart 011322

Shiba Inu Price Is Expected To Reach These Levels

Looking at the Shiba Inu price chart, we can see that SHIB has pushed up fairly significantly over the past couple of days. If buyers can maintain the positive sentiment, we could see SHIB push to $0.000030.