Shiba Inu Price Steps Into Buy Zone ! Here Are The Entry And Exit Levels

Today the Dogecoin killer Shiba Inu price has dropped by more than 14% in just 24hrs during the broader cryptocurrency market crash. This year 2022, even the returns of SHIB were 50% below zero, marking one of the worst performances. At the time of reporting, Shiba Inu is changing hands at $0.00001524 with a fall …

Timeline of Shiba-inu

On April 30th, the Shiba Inu(SHIB) price gave a bearish breakdown from a symmetrical triangle pattern. Following a week of retest phase, the sellers showed sufficient sustainability below the breached support trendline and extended the downfall.

Shiba Inu coin hits a seven-month low as the markets worsen and the rest of the cryptocurrencies freefall as well so let's read more today in our latest altcoin news. The price of the Shiba Inu coin hits seven-month low and dropped 8.9% overnight and trades at $0.00001723 according to the data from CoinMarketCap.

After failing to maintain the critical support level, Shiba Inu's native token crashed and is on a path to setting a new local low. Key Support level: $0.000017 Key Resistance level: $0.000020 The support at $0.000020 turned into solid resistance on Saturday and today's price action confirmed the breakdown with another daily red candle.

In the midst of the cryptocurrency market crash, the Dogecoin killer, Shiba Inu has also declined by 8% in the last seven days which is below the long-term bearish trendline. When looked at the recent price action of Shiba Inu, the May high was formed within a key resistance area. At the time of writing, …

In April Shiba Inu introduced a burning portal allowing holders to permanently destroy their tokens. This was aimed at reducing the circulating supply while also enabling users to receive passive income.

Shiba Inu (SHIB) is trading under tremendous price pressure since the last week. Despite many announcements for the development of the Shiba Inu ecosystem, SHIB's price has not shown any such positive movement.

Today's Shiba Inu price analysis displays a bearish movement in the market, and the market moves towards a slightly upward direction, raising the price of SHIB little by little. After that, however, the cost of SHIB experienced a flash crash and declined to $0.00002130, from $0.00002003; on May 5, 2022, SHIB/USD lost further momentum and.

Shiba INU price rebound is been expected for a pretty long time, but the asset is just extending the descending triangle. But interestingly, the price is also not falling beyond heavily and attempting to hold the lower support firmly. And by consolidating widely around these levels, the asset displays it's being self-assured of the upswing …

SHIB price shows the strength in the downside momentum, as it continued with the downfall that begins in April. Despite the lower movement, the probability of falling more is bleak as the sellers sit near the multi-week support level.

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice. Bitcoin has been weakly bouncing from the $38k support level, and on the previous day, it dropped decisively beneath this mark.