- Shiba Inu price analysis is bearish today.
- SHIB/USD continued to decline overnight.
- Closest support at $0.000041.
Shiba Inu price analysis is bearish today as we expect further downside to follow over the next 24 hours along with the several-week trend. Therefore, SHIB/USD should test the $0.000041 previous low again over the next 24 hours.
Shiba Inu price has seen a continuous decline over the past weeks. After a new all-time high was set at $0.0000885 on the 27th of October, a sharp reversal followed to $0.00006.
From there, a massive selloff followed on the 4th of November, leading to the $0.000045 mark. Since then, SHIB/USD has continued to slowly set lower highs, while another lower low was seen on the 18th of November when the $0.000041 current low was reached.
On the 19th of November, a reaction higher set another clear lower high, leading the Shiba Inu price action into another slow move lower. Over the last 24 hours, SHIB/USD has approached the previous low at $0.000041, likely leading to a break lower later today.
Shiba Inu Price Analysis: Conclusion
Shiba Inu price analysis is bearish today as we expect further downside to follow along with the overall trend. Likely SHIB/USD will test the $0.000041 current low later today.
While waiting for Shiba Inu to move further, see our articles on the Best Crypto Wallet 2021, Decred Wallet, and Ripple vs SEC.