Shiba Inu Price Analysis: Here are the Levels For SHIB Prices this Month!

The post Shiba Inu Price Analysis: Here are the Levels For SHIB Prices this Month! appeared first on Coinpedia Fintech News

The crypto markets continue their consolidation as the prices continue to maintain a descending trend. Bitcoin prices are approaching crucial support levels and driving the rest of the markets lower. The meme coins like PEPE, BEN, SUI, etc. have maintained a fine upswing, but traditional meme coins like Shiba Inu and Dogecoin are entering a huge red zone. 

Shiba Inu prices have also been negatively impacted by current market sentiments, as they have failed to rebound and lay down a fine recovery after breaking down from the trend line. The SHIB prices have entered one of the important zones, and they may trigger a rebound as it did before. 

Source: Tradingview

Presumably, the price is close to two daily support regions at $0.00000851 and later at $0.00000794. Testing these regions previously triggered a massive rebound followed by a 100% pump. Hence, a rise from the support zone could eventually trigger a huge breakout, leading the levels to surge close to the above-mentioned targets at around $0.00001317. Else, in case of a bullish breakout, the SHIB prices may also rise beyond $0.00002. 

While the meme-coin mania appears to be fading at a greater pace, the possibility of a notable rebound also hovers over the SHIB price rally. However, to do so, the price needs to visit the demand zone to attract liquidity, as the bulls and whales may accumulate at the market bottoms. Therefore, the Shiba Inu price rally may not seem to halt until an excessive zero is slashed from its value.