SHIBA INU Price Analysis: SHIB Coin Price Sees A Consolidation In Price Before The Rally

• SHIB Coin price is currently observing a downside consolidation momentum and can soon see a new high. It has observed a gain of more than 15% in the past 24 hours
• Technical indicators of SHIBA INU hints towards a strong upside momentum in price. In contrast, SHIB/BTC pair has seen a gain of more than 17% in the intraday session.

SHIB coin price is currently seeing a consolidated downside momentum in the daily chart and can soon hit a new low in the future. Shiba Inu coin price is currently trading near the value of $0.00006133 and has seen a gain of 16% in the past 24 hours. It has an ROI of more than 815678% which has made various retail and institutional investors rich. The asset price is currently seeing a consolidation but can soon see a new high. The hostile region of the asset can be seen near $0.000071. One can invest in SHIB as per their needs and price action scenario.

SHIB token can soon surpass the market valuation of the doge and various coins. The coin price has seen a gain of more than 14000% in the past few weeks and can soon see a new high. It suggests a strong bullish trend in the price for the future. The volume to market cap ratio of the asset price hints towards a strong bullish trend. One can forecast a huge trend in Shiba Inu in the future.

SHIB Coin Price Bulls Are Ready To Push The Price To A New High

The weekly technical chart of the Shiba Inu price suggests a strong upside bullish trend in price. On coming to the daily chart the asset price is seeing a consolidated momentum in the daily chart and can soon see a new high. The upside momentum of the SHIB can see hostility nearby $0.000075. The support of the asset can be seen near $0.00005. The price of the coin is currently trading above the 50 and 100 Daily Moving Average. If the price jumps 15 to 20% above the current level then a strong upside trend can be seen. The 50 DMA line is near $0.000028, acting as a temporary bounceback region of the price. SHIB/BTC pair can also observe a new high in the future

Conclusion

SHIB coin price can also see a new high in the future. SHIB/BTC pair can also see a strong upside trend in the future.

Technical Levels

Major Resistance: $0.000075
Major Support: $0.000005

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