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- On Sunday 30 October, Shiba INU price faced selling pressure after aggressive buying.
- The bears are attempting to keep Shiba price below the 200-day moving average on the daily price scale.
- The trading volume increased by 99% over the past 24 hours, showing a higher than average buyout in the asset.
Shiba INU and Dogecoin are two of the most popular meme coins in the crypto industry. They are both competitors of each other. According to CMC Rank, Shiba INU is below Dogecoin in terms of market capitalization. SHIB Crypto is also working hard to emerge in the market as the best namecoin in the crypto ocean.
The price of the Shiba Inu has left the sales territory after a month. In this selloff, buyers lost around 48% from the high of $0.00018. Now buyers are gradually increasing their stake in SHIB Crypto. As of now, the bulls are gearing up for the next major ideological round at $0.0000020, which was a support zone.
Shiba Inu against the USDT pair face retracement phase today, thus it down by 3.18% today, while price is trading at $0.00001247 Mark at the time of writing. Amid the uptrend, memecoin hit a 70 days high of $0.00001519 on 29 October. Moreover, the SHIB concerning the Bitcoin pair is slightly up 2.25% at 0.000000000603 satoshis.
Over the daily time frame, value stays above the short-term key support levels of 20,50 and 100 day moving averages. Bulls eventually flipped 100 DMA as an immediate support. Nevertheless, Bears attempt to keep SHIBA price below the 200 day moving average since last night.
In addition, RSI indicator revisited above the sideways zone’s range of 60 but its recent peak turndown may deliver negativity among bulls.
Conclusion
Today’s price drop in Shiba Inu may stay in a narrow lower weekly high. Buyers need to push asset prices above the 200 day moving average for more upside momentum.
Support level – $0.000010 and $0.000007
Resistance level – $0.000015 and $0.000018
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
