|Market Cap||$5.55 billion|
|Circulating Supply||549,063.28 billion|
|Total Supply||589,735.03 billion|
Read more: Shiba INU Price Prediction
The monthly trade began on a bearish note as the prices constantly formed lower highs & lows and maintained a firm descending trend. After the recent slash, the SHIB price are heavily consolidating within a very range. Hence displaying the possibility of a continued bearish trend, as the tokens appear to have formed a minute bear flag.
On breaking down the flag, the price is expected to drop below $0.00001 and test the last point of defense at $0.00000955. The token in the past couple of times has ignited a flip from these levels comfortably as the bulls were well-positioned. However, considering the present scenario, the volume has dropped comparatively. Hence compelling the price to remain highly consolidated for a longer time.
After the gigantic bull run in 2021, bears have largely dominated the entire crypto space. Therefore, compelling the majority of the cryptos to trade under their captivity including Shiba INU price. Presently, the investors do not appear to be assured of the revival of the bull run and hence opt to remain resilient. Therefore, in the coming days until the end of the monthly trade, the market participants may expect the token to maintain a notable bearish trend ahead.
|Short-Term (4hrs)||The SHIB price has dropped from the average levels and as the selling pressure has mounted, the price may continue to tank further|
|Mid-Term (1 Day)||The token is trending within a descending trend and hence manifest the possibility of another massive plunge|
|Long-Term (1 Week)||After rising slightly above the bearish, the token is failing to gather buying volume, very much required to break above the current trend|
|Indicator||Value (STF/HTF)(5 hrs/ Weekly)||Action (STF/HTF)(5 hrs/ Weekly)|
|Relative Strength Index(RSI)||42.85 / 37.89||Sell / Sell|
|MACD||0.00 / 0.00||Neutral / Neutral|
|Average Directional Index(ADX)||30.64 / 15.71||Sell / Neutral|
|Ultimate Oscillator||53.17 / 43.47||Buy / Sell|
|Bull-Bear Power||0.00 / 0.00||Neutral / Neutral|
|Moving Average||Short Term(5 Hours)||Long Term (Weekly)|
The technicals point toward the bearish trend to persist for an extended time as the fractals are negative. The RSI in both the STF & HTF is extremely bearish which is not referred to as a healthy rally. While the Average True Range(ATR) is highly volatile in both time frames and hence the price actions may either trap the bulls or the bears. Moreover, the Bull-Bear power is neutral in both time frames that suggest remaining consolidated until any among them regain strength.
Buying & selling is simple & safe here, on CoinDCX. You just have to register by downloading the CoinDCX App on your smartphone & enter your details. Wait for the verification to complete and meanwhile complete the KYC. Once done, fund your wallet & buy Shiba INU (SHIB).
Shiba INU price is extremely bearish in all the time frames.
The RSI for the short-term is 42.85 while in the long term it is 37.89.
The market sentiments are pretty bearish presently and hence flash the possibility of rebounding very soon. However, with a close observation of the market trends and with in-depth research, one can buy SHIB anytime.