SHIBA INU Price Analysis: Will SHIBA INU (SHIB)  Survive?

• The price of the SHIB  is trading at the price of $0.00000718. The coin’s price decreased by 0.13% in  24 hours.
• The SHIB price is observing an increase of 6.43% in the last 7 days.
• The market capitalization of SHIB Finance Network is $4232251802.

Trend Evaluation

By evaluating the price data of SHIB, it can be said that it is in a downtrend currently. The price inclined by 6.43% in the last seven days and we can say that the SHIBA INU (SHIB) is underperforming right now. From its peak price of $0.00008616, it fell -by 91.66%% in a year and demolished the investors’ wealth. The current market sentiments are not good. There is no big volume. Buyers are also not available in the current market scenario.

SHIBA INU (SHIB) Technical Analysis

EMA

The price of SHIB has slipped below 50 and 200 EMA.  This suggests that the price is in a bearish trend. 

RSI

The RSI line has been moving in the oversold zone. The RSI line is around 38.99. The 14 SMA has a value of 29.03 points. This indicates that the SHIB market is in the oversold zone.

MACD

Currently, MACD is giving bearish views. The MACD line is below the signal line and both the MACD line and the signal line are beneath the zero line hinting at the bearish sentiments of the price.

Trendline Analysis

The price has respected its major trendline and currently, it is going downward striking back by resistance. So, the price of SHIB  can continue to fall up to the next support, and it is following its trendline properly. If it breaks the next support, it can go down more.

Volume Analysis

The SHIB trading volume of 24 hours is $92996481 with a 59.70% decrease in volume in the last 24 hours. There is no substantial significant boost in the volume of the coin and that is because of a lack of buyers in the market.

Technical Levels

• Support – The current support level of the SHIB is $0.00000601.

• Resistance –The current resistance level of the SHIB is $0.00000967.
  

Conclusion

SHIBA INU  is facing a tough time in the market. According to the present data and analysis, we can say that it is in the bear’s control. The price action suggests that the price may fall more in the upcoming days and this is because the price broke its major trendline support level. SHIBA INU’s price shows a pessimistic scenario at the moment. Major reliable indicators like EMA, RSI, and MACD are giving negative signals about the SHIBA INU coin. The fear is growing among investors because of the poor performance of the coin.

Disclaimer

The following analysis is provided for informational purposes only and should not be considered as financial, Investment, or other advice. Investing and trading in Crypto coins involve the risk of capital loss.