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Shiba Inu Price Analysis: SHIB breaks $0.000035 all-time high, currently trades below $0.00004

Shiba Inu Price analysis

TL;DR Breakdown

  • Shiba Inu price analysis is bullish today.
  • SHIB/USD spiked above $0.000035 previous all-time high.
  • Some resistance is seen at $0.00004.

Shiba Inu price analysis is bullish today as new all-time highs are currently set after the $0.000035 mark was broken overnight. Therefore, we expect SHIB/USD to continue higher over the next 24 hours.

Shiba Inu Price Analysis: SHIB breaks $0.000035 all-time high, currently trades below $0.00004 1
Cryptocurrency heat map. Source: Coin360

The crypto market traded with mixed results over the last 24 hours. Bitcoin lost 0.16 percent, while Ethereum gained 2.04 percent. Meanwhile, Shiba Inu (SHIB) is the top performer, with a gain of almost 40 percent.

Shiba Inu price movement in the last 24 hours: Shiba Inu sets a new all-time high at $0.00004

SHIB/USD traded in a range of $0.00002774 – $0.00003995, indicating strong volatility over the last 24 hours. Trading volume has increased by 540 percent and totals $8.87 billion, while the total market cap has spiked to $15.32 billion, ranking the coin in 13th place overall.

SHIB/USD 4-hour chart: SHIB to continue above $0.00004 today?

On the 4-hour chart, we can see bullish momentum still strong for Shiba Inu price action after a strong rally this morning.

Shiba Inu Price Analysis: SHIB breaks $0.000035 all-time high, currently trades below $0.00004
SHIB/USD 4-hour chart. Source: TradingView

Shiba Inu price action has seen consolidation in an increasingly tighter range over the past week. After a strong advance at the beginning of October, leading SHIB/USD to a new all-time high at $0.000035, a retracement to $0.00002 began the consolidation.

Several lower highs and higher lows were set over the past weeks until SHIB/USD ended up below $0.00003. Most of this week Shiba Inu traded sideways below the resistance, indicating we could see a push higher later this week.

Yesterday, Shiba Inu finally did break higher, rapidly reaching the previous all-time high of $0.000035. After some pause, overnight, the previous all-time high was broken, leading SHIB/USD to the current one at $0.00004.

Shiba Inu Price Analysis: Conclusion 

Shiba Inu price analysis is bullish today as a new higher high has been set above $0.000035 after a strong push higher began yesterday. Therefore, we assume SHIB/USD will continue higher over the next 24 hours.

While waiting for Shiba Inu to move further, read our guides on LTC wallets, Gero wallets, and  DeFi wallets.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Lapin

Lapin

Lapin is an experienced freelance Crypto and Financial market writer and analyst. He has been trading for several years and holds a bachelor’s degree in Finance.

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