The SHIB rate continues to decline. Let's examine the current situation and potential prospects.
Current SHIB Situation
The price of SHIB has declined by almost 11% over the last 24 hours. On the hourly chart, the SHIB rate is coming back to the local support level of $0.00001235. If the situation does not change, a breakout, followed by a move to the $0.000012 zone, can be expected.
Daily Chart Analysis
On the daily time frame, the price keeps falling after yesterday's bearish closure. There are no reversal signals yet, and the breakout of the support at $0.00001158 may lead to a test of the $0.000010-$0.000011 zone.
Midterm Prospects
From the midterm point of view, sellers remain more powerful than buyers. Trading volumes continue to fall, indicating that traders are unlikely to see a bounce back shortly. SHIB is trading at $0.00001259 at the moment.
The current situation with SHIB suggests a likelihood of further decline due to the prevailing strength of sellers and decreasing trading volumes.
