The price of the cryptocurrency SHIB continues to show changes. Currently, there is a slight drop, which arouses the interest of investors and analysts.
Current SHIB Market Situation
According to recent data, the SHIB price has fallen by 0.76% compared to the previous day. On the hourly chart, the price of SHIB has broken the local support at $0.00001157. If the daily candle closes below this level, the correction may continue to the $0.00001140 zone.
Short-Term Predictions for SHIB
On a larger time frame, the situation also looks bearish. The SHIB price is close to breaking the support at $0.00001151. If this happens, the accumulated energy may be enough for a move to the $0.000011 area. Such a scenario is relevant until the end of the week.
Long-Term Outlook for the Cryptocurrency
On the weekly chart, the situation is more positive. The price is within the previous candle, which means neither side has seized the initiative yet. The more likely scenario is sideways trading in the range of $0.000011-$0.00001250 until the end of June.
The SHIB price shows mixed behavior in the markets. Investors should monitor support levels and wait for further results to form a future strategy.
