{"id":123140,"date":"2023-07-16T12:05:03","date_gmt":"2023-07-16T12:05:03","guid":{"rendered":"https:\/\/dripp.zone\/news\/will-shiba-inu-price-recover-to-0-00001-key-support-levels-to-watch-crypto-news\/"},"modified":"2023-07-16T12:05:06","modified_gmt":"2023-07-16T12:05:06","slug":"will-shiba-inu-price-recover-to-0-00001-key-support-levels-to-watch-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/will-shiba-inu-price-recover-to-0-00001-key-support-levels-to-watch-crypto-news\/","title":{"rendered":"Will Shiba Inu Price Recover to $0.00001?  Key Support levels to watch\n &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div id=\"post-154347\">\n<p><!--\n     \n\n<div class=\"marketThumbs\">\n             <noscript><img loading=\"lazy\" width=\"1200\" height=\"681\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/07\/16172037\/dS1Tbbyl-e1689508253292.png\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"Shiba Inu Price\" decoding=\"async\" srcset=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/07\/16172037\/dS1Tbbyl-e1689508253292.png 1200w, https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/07\/16172037\/dS1Tbbyl-e1689508253292-300x170.png 300w, https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/07\/16172037\/dS1Tbbyl-e1689508253292-768x436.png 768w, https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/07\/16172037\/dS1Tbbyl-e1689508253292-150x85.png 150w\" sizes=\"auto, (max-width: 1200px) 100vw, 1200px\" \/><\/noscript><\/div>\n\n\n--><\/p>\n<p class=\"MarketsUp f-14 d-block\">Published 19 minutes ago  <\/p>\n<div class=\"Atcs\">\n<p><span style=\"font-weight: 400;\">Amidst the recent recovery sentiment in the market and the development of <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/shiba-inu-lead-developer-promises-more-as-latest-shibarium-dapp-goes-live\/\">Shiba Inu&#8217;s layer-2 (L2) blockchain network Shibarium<\/a>, the SHIB price has showcased impressive recovery in the last 4 weeks.  From the June 15th low of $0.00000642, this popular memecoin surged 32% to hit the $0.00000845 resistance.  Will this recovery continue or is it time for correction?<\/span><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.72.1 --><\/p>\n<p>Also Read: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/shiba-inu-excites-community-with-new-platform-update\/?utm_source=24hrsupdateall\">Shiba Inu Gets Ready To Compete With Polygon And Arbitrum With Shibarium Layer 2<\/a><\/p>\n<h2><b>Shiba Inu Price Daily Chart: <\/b><\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\"> <\/span><span style=\"font-weight: 400;\">A support trendline governs the short-term recovery in Shiba Inu price<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The higher price rejection candle at $0.00000845 reflects a high supply zone.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The intraday trading volume of the Shiba Inu coin is $146.5 Million, showing a 54% loss.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" alt=\"Shiba Inu Price\" width=\"1946\" height=\"1104\" data-lazy-src=\"https:\/\/s3.tradingview.com\/snapshots\/d\/dS1Tbbyl.png\"\/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"https:\/\/s3.tradingview.com\/snapshots\/d\/dS1Tbbyl.png\" alt=\"Shiba Inu Price\" width=\"1946\" height=\"1104\"\/><\/noscript>Source- Tradingview<\/span><\/p>\n<p><span style=\"font-weight: 400;\">By press time, the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/price\/shiba-inu\/\">Shiba Inu Price<\/a> traded at $0.000008 and witnessed supply pressure at $0.00000845 resistance.  The daily candles with long-wick rejection indicate the seller&#8217;s aggressive nature at this barrier and the possibility of a bearish reversal.<\/span><\/p>\n<blockquote>\n<p><span style=\"font-weight: 400;\">The buyers&#8217; failure to reclaim this barrier could trigger a bearish reversal and plunge the SHIB price 5-6% down and hit a new support trendline.  This trendline is carrying this ongoing recovery by offering dynamic support.  With each retest to the ascending trendline, the buyers get an opportunity to replenish bullish momentum and give another attempt to strike back $0.00000845.<\/span><\/p>\n<\/blockquote>\n<p><span style=\"font-weight: 400;\">A potential breakout above the aforementioned resistance with daily candle closing will boost underlying buying pressure and surge the memecoin price 15.5% higher to reach $0.00000976-$0.00001.<\/span><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.72.1 --><\/p>\n<h2><strong>Can SHIB price plunge to $0.0000064?<\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">The SHIB holders riding the current recovery can use the support trendline for trailing stop loss.  In case the supply pressure at $0.00000845 overthrows buyers, a breakdown below the rising trendline will undermine the bullish thesis.  This crackdown will prolong the prevailing downtrend and plunge the price back to $0.0000064 support.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Moving Average Convergence Divergence: <\/b><span style=\"font-weight: 400;\">An uptick in <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/glossary\/macd-moving-average-convergence-divergnece\/\">MACD<\/a>(blue) and signal(orange) indicator of the weekly chart indicates early signs of a trend change<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Bollinger Bands: <\/b><span style=\"font-weight: 400;\">The SHIB price challenging the upper band of the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/education\/bollinger-band\/\">Bollinger Band indicator<\/a> suggests high momentum rally.<\/span><\/li>\n<\/ul><\/div>\n<div class=\"TabDicA\">\n<div class=\"TBAcon \">\n<div class=\"authorFlip tabcS\" id=\"TabA154347\">\n<div class=\"authorBox\">\n<div class=\"author_Name\">\n<!--\n                                      \n\n<div class=\"getAuthoname\">\n                                          \n                                                                                 \n                                       <\/div>\n\n \n--><\/p>\n<p>From the past 5 years I am working in Journalism.  I follow the Blockchain &#038; Cryptocurrency from last 3 years.  I have written on a variety of different topics including fashion, beauty, entertainment, and finance.  Reach out to me at brian(at)coingape.com                         <\/p>\n<\/p><\/div>\n<div class=\"author_Image\">\n                                             <img loading=\"lazy\" alt=\"\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" data-lazy-srcset=\"https:\/\/secure.gravatar.com\/avatar\/97819e56237550ccb85011dd23b241ea?s=400&#038;d=mm&#038;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\" data-lazy-src=\"https:\/\/secure.gravatar.com\/avatar\/97819e56237550ccb85011dd23b241ea?s=200&#038;d=mm&#038;r=g\"\/><noscript><img loading=\"lazy\" alt=\"\" src=\"https:\/\/secure.gravatar.com\/avatar\/97819e56237550ccb85011dd23b241ea?s=200&#038;d=mm&#038;r=g\" srcset=\"https:\/\/secure.gravatar.com\/avatar\/97819e56237550ccb85011dd23b241ea?s=400&#038;d=mm&#038;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\"\/><\/noscript>                                       <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"TabDesCm tabcS\" id=\"TabD154347\">\n<p>    The content presented may include the personal opinion of the author and is subject to market conditions.  Do your market research before investing in cryptocurrencies.  The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n<p>     <!--           <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/category\/price-analysis\/\" class=\"closeArticle2 close-btn\">Close Story<\/a>--><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Published 19 minutes ago Amidst the recent recovery sentiment in the market and the development of Shiba Inu&#8217;s layer-2 (L2) blockchain network Shibarium, the SHIB price has showcased impressive recovery in the last 4 weeks. From the June 15th low of $0.00000642, this popular memecoin surged 32% to hit the $0.00000845 resistance. Will this recovery [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":123141,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[192,29,198,194,195,199,196,193,197,200],"class_list":["post-123140","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-blockchain-business","tag-business","tag-coins","tag-crypto-business","tag-cryptocurrency-business","tag-fiat","tag-metaverse-business","tag-nft-business","tag-token","tag-token-business"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/123140","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=123140"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/123140\/revisions"}],"predecessor-version":[{"id":123142,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/123140\/revisions\/123142"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/123141"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=123140"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=123140"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=123140"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}