Shiba Inu (SHIB) has gained rapid traction amongst investors due to its impressive price movements and growing popularity. However, the current price of $0.00001021 is a slight decrease from its previous highs, although the nearby 7-day low of $0.00001012 indicates that it may soon restore its value. Should the current resistance level at $0.00001037 be breached, subsequent resistance points may be met at $0.00001052 and $0.00001073, which could result in SHIB trending upwards. Analyzing the 24-hour data of SHIB, it can be concluded that market capitalization and 24-hour trading volume have gone down by 1.24% and 4.96%, respectively.

Observing the 1-day Shiba Inu price analysis, a descending trend can be observed. Volatility has arisen as the Bollinger Band indicator has diverged. The MACD (Moving Average Convergence Divergence) suggests a bearish environment as the histogram provides negative values, along with the MACD line (blue) trading below the signal line (red). Similarly, the 4-hour technical analysis showcases the decreasing volatility, as is evident from the Bollinger Bands indciator showing the upper band at $0.00001047, while the lower band at $0.00001014. It indicates the asset’s price to be within a narrow range, signifying a period of consolidation.

Investors must note that the long-term trend for SHIB might be negative, however, the current slight correction may provide traders an opportunity of trading it during a possible bullish movement in the near future. Therefore, it is important for investors to closely monitor the asset and be ready to take advantage of any potential trend reversal or maintenance. It is worth noting that undertaking any action without conducting proper research and judgment is at the risk of the trader, and Coin Edition or its affiliates may not be held responsible for any losses incurred.



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