Here’s an update on Shiba Inu on the weekly timeframe.
In the early years of meme coins, SHIB was one of the pioneering tokens that started the trend and remains a strong contender with a market cap of over $7.78 billion.
Currently, SHIB is in a downtrend, with the price nearing the support range of $0.00001076 to $0.0000120. SHIB must hold this support and rebound toward the resistance trendline.
Failure to hold this support could likely trigger a drop to the lower support level at $0.000007.
Spot Trade Setup for SHIB:
- Accumulation Range 1: $0.00001076 to $0.0000120 - Accumulation Range 2: $0.0000056 to $0.0000071 - Primary Resistance/Short-term Target: $0.000026 to $0.000033 - Long-term Target: $0.000089 to $0.00015
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