This article analyzes the current state of the SHIB price, its changes over the last day, and forecasts for the near future.
Price Movement of SHIB Over the Day
The price of SHIB has increased by 1.33% over the past day, indicating a slight rise in interest from traders.
Current Market Situation
On the hourly chart, the SHIB rate is declining following a false breakout of local resistance at $0.00001188. If selling pressure continues, traders may witness a test of the $0.0000116-$0.00001170 range by tomorrow. In the longer timeframe, the picture remains neutral, as the price is within yesterday's bar, suggesting low chances of seeing sharp moves.
Predictions and Possible Scenarios
Given the current data, sideways trading in the $0.00001150-$0.000012 range is the most likely scenario. From the midterm perspective, the situation is similar: the volume continues to fall, confirming the absence of energy from both buyers and sellers. Overall, traders are unlikely to see increased volatility over the next few weeks. Currently, SHIB is trading at $0.00001180.
The current data on SHIB price movement shows a stable market situation with low volatility. A sideways trend is expected in the coming days.
