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Shiba Inu Price Analysis: SHIB spikes above $0.00004

Aave price analysis

TL;DR Breakdown

  • Shiba Inu price analysis is bullish today.
  • SHIB/USD set a new all-time high at $0.000044
  • Retracement found support at $0.000035 previous high.

The Shiba Inu price analysis is positive today, as the major resistance of $0.000035 was revisited as support, and no additional declines were observed. As a result, when SHIB/USD steadies, we anticipate further attempts to push higher.

Shiba Inu price movement in the last 24 hours: Shiba Inu set all time high at $0.00004

The price of SHIB/USD has been trading inside a range of $0.00003423 to $0.00004142 over the last 24 hours, suggesting high volatility. Trading volume has decreased by 4.65 percent and is now at $12.6 billion, while the overall market cap is valued at around $15.67 billion

SHIB/USD 4-hour chart: SHIB prepares for further upsides

On the 4-hour chart, we can see that the Shiba Inu price is beginning to consolidate around $0.00004, where it found support after a brief retest of $0.000035 as support.

Shiba Inu Price Analysis: SHIB spikes above $0.00004 1SHIB/USD 4-hour chart. Source: TradingView

After a strong rally established a new all-time high of $0.000035 at the beginning of October, Shiba Inu prices spent several weeks in quiet sideways movement. SHIB/USD then retraced to $0.00002 before being halted at $0.000032 by additional upside buying.

SHIB/USD appeared to be finding support at the $0.000025 level and then climbed steadily up through $0.00003 resistance before returning to consolidation. On Saturday, the marketplace rallied again after some further consolidation.

After closing at $0.000036, the Shiba Inu price rallied last year to a new all-time high of $0.000044, surpassing the previous all-time high of $0.000035 by more than 2 percent.

Shiba Inu Price Analysis: Conclusion 

As a result of the lower high from May 15, Shiba Inu’s price analysis is bullish. As a new higher low has been established at the previous all-time high of $0.000035, we anticipate that SHIB/USD will attempt to rise further.

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.
Richard Adrian

Richard Adrian

Richard is a versatile fintech analyst with a deep understanding of blockchain domains. As much as technology fascinates him, he finds the intersection of both technology and finance mind-blowing. The firm belief that fintech will drive the future has brought him to the crossroads of Fintech discoveries and transmission of immutable data to a wider audience - Cryptopolitan.

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