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