its price on a recovery path

The meme coin Shiba Inu is currently facing a pivotal resistance level at $0.00002320. Breaking through this barrier could see its value rise to $0.00002550. Such a move might set the stage for reaching the $0.00010000 threshold.

However, a downturn could push its price down if seller's rises from this level of $0.000022. Thereafter, the market sentiment could turn negative, where SHIB could fall further to $0.00002000. Where, increased bearish momentum may confirm a downward trend.

The daily technical analysis shows a promising outlook for Shiba Inu, with its price on a recovery path. The Relative Strength Index (RSI) is at a balanced 40. The MACD line has crossed below the signal line, indicating potential bearish momentum in the short term at -0.00000081.

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.