Our Shiba Inu coin price prediction will remain bullish on the lower timeframe as long as the price stays above the trendline. SHIB coin is still trading above the upwards trendline that started from the June lows. While many altcoins have already broken below their key supports, the top dogcoin is still standing strong.
Cryptocurrencies are in turmoil once again as the BTC price took a nosedive during the weekend. Many altcoins are already trading 20%-25% below their recent highs. Nevertheless, many analysts are still predicting another leg up before the next month’s Ethereum Merge.
At the time of writing, the Shiba Inu coin price is trading at $0.00001325. The price is 0.68% up from yesterday but still hovering on the trendline. Although SHIB price hasn’t broken the uptrend yet, a lack of significant bounce might bring bears back in the game.
According to Shiba Inu news today, SHIB has been added to the list of tokens supported by the Binance Card. This would enable 60 million+ merchants worldwide to accept the top memecoin. This would also entitle the users to 8% cash back.
Technical analysis of the SHIB USD price chart shows a rejection from the 200-day moving average. This rejection and the Bitcoin dip took the price from $0.00001800 to $0.00001266. Nevertheless, the price has still not broken the upwards trendline, and bulls still have a chance to aim for further upside.
A daily closure below the trendline would make Shiba Inu coin price prediction bearish once again. In such a scenario, $0.00001122 would become very critical. A failure to hold this 0.618 Fib level could send the price back to the June lows. However, if BTC shows some recovery, another retest of the 200-day MA is also on the cards. For any long trade, the $0.00001029 level could act as a good stop loss.
This post was last modified on Aug 23, 2022, 16:43 BST 16:43