Shiba Inu Price Analysis: SHIB has risen to $0.00003 after a slow rise, hopefully, it will go even higher soon

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  • SHIB/USD hit a new low at $0.000025

The Shiba Inu markets are looking bullish today. Yesterday, the price set a higher low at $0.000025 and it has again risen today to $0.0000407. As a result, we are likely to see SHIB/USD go up, even more, to break past the $0.00003.

The market had mixed results in the last 24 hours. Bitcoin, the market leader Bitcoin, was up by 2.7% and Ethereum increased 0.38%. The best performing stock in the list was Shiba Inu (SHIB) with an 11.4% growth

Shiba Inu sets a new high low at $0.000025

Yesterday, SHIB has been trading in a range from $0.00002546 to 0.00002962 with a volume 15% smaller ($ billion) and a market cap of $11.7 billion coming in 18th place ($ USD).

Must Read: SHIBA INU SHIB White Paper

SHIB 4-hour chart: SHIB seems to be on the verge of breaking its old resistance, at $0.00003.

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There’s a bullish trend on the shorter time frame and we could see an even higher high today.

https://www.tradingview.com/x/KdKCrSJn/

I’m not sure if this price surge is sustainable, but Shiba Inu has done well so far this month. The coin started has seen strong growth to around $0.000035.

After a retest on the 7th of October, SHIB registered another strong drop of 40%, as support was found at $0.00002. Previously, the momentum got to around $0.00003 which would indicate that there may be more upside to come

After a brief drop to $0.000025, which followed high volatility as well as slow consolidation, the market has started heading back up again.

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In the long-term, if the Shiba Inu rises above $0.00003 it should quickly build momentum and continue going up. On the other hand, a fall below the swing high would result in a range-bound scenario for SHIB.

Conclusion

Shiba Inu price analysis is bullish with a new higher low set yesterday after a period of consolidation. Since then, the price has rallied back towards its previous high and is now close to it. This could be an even better position.

Disclaimer: The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice.

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