Cryptocurrencies

Shiba Inu Price Prediction: Can SHIB Break Above $0.00001939 to Ignite a Bullish Rally?

Published by

Written By: Lilly Mwogah

Oct 30, 2024, 11:21 GMT 11:21

The dog breed Shiba Inu close up on green grass

Summary:

Shiba Inu price struggles to hold the $0.00001859 support level. Can SHIB break above $0.00001939, or is a deeper correction ahead?

Shiba Inu (SHIB) is looking a bit wobbly as it tiptoes around the $0.00001859 support level. It’s like watching a determined pup trying to jump over a high fence at $0.00001939, only to be nudged back down by the sellers.

Chart Analysis: Key Levels to Watch

Current Price: SHIB is trading at $0.00001859, experiencing a 2.52% decline today.
Resistance Levels:
- Immediate resistance is at $0.00001939, marking a key barrier for bulls.
- The next resistance stands at $0.00002153, which aligns with past highs and psychological levels.
Support Levels:
- The 20-day EMA at $0.00001790 serves as the immediate support level.
- If bears take control, $0.00001565 will be the critical line in the sand for bulls to defend.
Moving Averages: The 20-day EMA remains slightly above the 50-day EMA, reflecting mild bullish momentum but also indicating potential indecision.

Shiba Inu Price Chart

Conclusion

Shiba Inu’s current position is like a dog chasing its tail—close but not quite there. Will it leap past $0.00001939 like an enthusiastic pup finally catching that elusive tail? Or will it curl up at the $0.00001790 support for a breather? Either way, SHIB fans should keep their leashes ready because this ride could get wild!

This post was last modified on Oct 30, 2024, 11:27 GMT 11:27

Written By: Lilly Mwogah

Lilly Mwogah is a finance writer specializing in cryptocurrencies, forex, and indices. Passionate about simplifying complex financial topics, she creates engaging content for a broad audience. With a solid grasp of market trends and economic indicators, her work informs and empowers readers to navigate the dynamic finance world.