The Shiba Inu cryptocurrency has experienced noticeable price growth over the past week, increasing by nearly 11%. This article examines current trends and potential support and resistance levels.
Overview of Shiba Inu's Growth
The Shiba Inu cryptocurrency (SHIB) has shown significant growth over the past week, with an increase of 11%. Since reaching a low of $0.00001106 on June 27, SHIB has been exhibiting a steady recovery.
Current Technical Levels
At the time of writing, SHIB has risen by 1.96% in the last 24 hours, trading at $0.00001159. Data from IntoTheBlock indicates that in the $0.000012 to $0.000014 range, 79.67 trillion SHIB were purchased by 103,860 addresses, representing a technical resistance zone where supply outstrips demand.
Future Trends and Support Levels
For Shiba Inu to break above its current resistance, it will require sustained trading volume and buying activity. If successful, the next resistance level looms between $0.000014 and $0.000016. Conversely, if SHIB fails to maintain its current range, the next support is expected in the range of $0.000008 to $0.000011.
The recent growth of the Shiba Inu cryptocurrency over the past week indicates market activity. It is important to monitor trading volumes to determine future trends and key support and resistance levels.
