Shiba Inu Technical Analysis: SHIB Fails To Push Past $0.000040 Over The Weekend 

Daily Shiba Inu Price Analysis

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Last Updated November 29th 2021
5 Min Read
  • The Shiba Inu price did not see much movement over the weekend, as the price remained relatively static. 
  • SHIB has been quite bearish lately and had registered a drop of over 9% on Friday. 

The Shiba Inu price has started the current session marginally in the green, as buyers look to push the price beyond $0.000040. SHIB has been quite bearish but registered a sharp increase on Thursday, as the price pushed up to $0.000042. However, the price fell back on Friday, dropping by over 9% and settling at $0.000038. The weekend did not see much movement, as SHIB registered a marginal recovery and then a marginal fall on Sunday to end the weekend, still below $0.000040. 

Shiba Inu Price Chart Indicates Buyers And Sellers Vying For Control Of Current Session 

The Shiba Inu price started the previous weekend in the red, as it registered a drop of 1.75%. Sunday saw a more significant drop as the price fell by 7.45% and settled at $0.000044. The bearish sentiment persisted as the week began, with SHIB slipping below the 50-day SMA on Monday. The price dropped further on Tuesday, as sellers pushed the price down by over 3% to $0.000041. Wednesday was when the price slipped below $0.000040, as SHIB fell by almost 10%, dropping to $0.000037.

Image: SHIB/USDT daily

SHIB/USD daily chart 112921

After slipping below $0.000040 on Wednesday, the Shiba Inu price recovered on Thursday, as it pushed back to $0.000042 after registering an increase of almost 13%. Despite the bullish session, the price fell back on Friday by 9.42% and dropped to $0.000038. The weekend did not see much movement in price, as SHIB rose by 1.37% on Saturday and then registered a drop of 0.23% on Sunday to end the weekend at $0.000039. The current session sees SHIB u\p marginally, with the price currently up by almost 1%.

We can see that the Parabolic SAR is currently bearish. However, if the price pushes up, 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 6800 addresses have bought more than 41,500 SHIB.

Image: IntoTheBlock 

SHIB/USD volume chart 112921

Looking at the 4-hour Shiba Inu price chart, we can see that SHIB had dropped to $0.000043 on the 22nd. The price continued to remain bearish after dropping to this level, falling to $0.000039 on the 24th. SHIB recovered from this level, as the price pushed to $0.000042, where the 20-bar SMA acted as resistance. As a result, SHIB dropped to $0.000039 before pushing up to $0.000043, moving above the 20-bar SMA. After reaching this level, SHIB turned bearish, as the price slipped back below the 20-bar SMA and settled at $0.000037. With the 20-bar SMA acting as resistance again, SHIB could only push up to $0.000040 before dropping to $0.000037 and then rising to its current level of $0.000039, just above the 20-bar SMA.

We can see that the MACD is currently bullish, indicating that we could see the price push higher. However, if sellers take control of the session, we could see it flip to bearish.

Image: SHIB/USDT 4-hour

SHIB/USD 4-hour chart 112921

Activision Is Creating A Shiba Inu NFT Game

Shiba Inu has teamed up with game creator and former Vice President of Technology at Activision William David Volk to consult on its play-to-earn non-fungible token (NFT) game.

The game, dubbed the Oshiverse, will be the newest extension to the SHIB ecosystem. Shytoshi Kusama, the project leader of SHIB, provided further details in an article titled “The Future of Gaming is Shib” on Medium.

Kusama stated that Shiba Inu had partnered with a AAA gaming company to develop an NFT game, which would use the Shiboshi NFTs. Due to an existing non-disclosure agreement, he was unable to disclose whose studio this was.

 In 1991, Volk became Vice President of Technology at Activision, formerly the most valuable gaming company, until Roblox recently took over that mantle. Speaking about Volk, Kusama said:

 “He’s a true visionary with decades of top-notch high-quality experience on the corporate side, and also on the independent side, having run his own game studio as well.”

SHIB Twitter account announced: 

"We are proud to welcome @william_volk to Shiba Inu Games!”

Shytoshi gave further details about the scope of the Shiba Inu game, which will run primarily on iOS and Android devices. In contrast, the game itself will have Shibarium functionality and decentralized aspects. 

Kusama further revealed that the pending game will be initially developed by Shiba Inu and will not feature a blockchain. However, the blockchain version of the game will be built from it using the decentralized network. The project, in the later stages of 2022, will incorporate a metaverse functionality. This would be a different approach from that adopted by Facebook.

William Volk boasts of an impressive record in the video game industry, with over 36 years of experience in the video games industry under his belt, measuring back to Avalon Hill in 1980. Volk created and co-designed iWack, one of the first-ever games which were launched on the App store.

Shiba Inu could also be in for a notable turnaround with regards to its Metaverse development. SHIB’s community is relatively larger than many tokens such as SAND, MANA, ENJ, and ALICE, which have seen their valuation go up after advancing into the Metaverse.

Shiba Inu Price Is Expected To Reach These Levels 

The Shiba Inu price chart shows us that SHIB has been quite bearish lately but has pushed up during the current session. If the current trend continues, we could see SHIB push above $0.000040.