{"id":537204,"date":"2023-06-09T16:25:15","date_gmt":"2023-06-09T16:25:15","guid":{"rendered":"https:\/\/uniquehot.com\/?p=537204"},"modified":"2024-06-11T07:50:36","modified_gmt":"2024-06-11T07:50:36","slug":"shiba-inu-shib-price-at-most-crucial-point-in-history","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/shiba-inu-coin\/shiba-inu-shib-price-at-most-crucial-point-in-history\/","title":{"rendered":"Shiba Inu (SHIB) Price At The Most Crucial Point In Its History?"},"content":{"rendered":"

After Shiba Inu (SHIB) had a fabulous rally at the beginning of the year, the price has been in a sustained downturn since February 5, which neither the beta launch<\/a> of Shibarium nor an increase in monthly burn rates<\/a> were able to prevent. With the price currently trading at $0.00000804, SHIB is thus at possibly the most important point in its young history.<\/p>\n

A look at the 1-day chart reveals that SHIB reached a local high of $0.00001575 on February 5, 2023. From that point until early May, the price formed a descending triangle with a horizontal trend line at $0.000010 acting as support for a long time. This price level was also aligned with the 23.6% Fibonacci level.<\/p>\n

Most Important Moment In Shiba Inu Price History?<\/h2>\n

When the trend line was broken to the downside, the downtrend continued rapidly. All year-to-date gains were wiped out. However, one last hope may now be a triple bottom chart pattern, which the Shiba Inu price is currently exhibiting.<\/p>\n

The price area at $0.00000776 served as the last support back in mid-June 2022 and late December 2022, and now again. Shiba Inu meets all three characteristics of the chart pattern.<\/p>\n

Related Reading: Shiba Inu Hits Crucial Barrier \u2013 How This May Impact Investor Sentiment<\/a><\/div>\n

First, the three lows must be roughly equal in price and spaced apart by a certain distance (June and December 2022, June 2023). Second, volume must be decreasing throughout the pattern, which is a sign that the bears are losing strength. Looking at the time pattern of SHIB trading volume, this condition can also be considered to be met.<\/p>\n

Third, Shiba Inu has been in a steady downtrend with lower highs since the all-time high of late October 2021. Hence, the decisive moment might have come now: While the trading volume decreases during downward movements, the volume should increase during upward movements when the price breaks through the resistance levels. Only if that happens, a trend reversal seems possible.<\/p>\n

\"Shiba
SHIB at most crucial point, 1-day chart | Source: SHIBUSD on TradingView.com<\/a><\/figcaption><\/figure>\n

A very first resistance to break through is at $0.0000817. If successful, the 50-day Exponential Moving Average (EMA) currently at $0.00000907 could come into focus. However, probably the most important resistance to confirm a fake breakout is the 23.6% Fibonacci level at $0.000010.<\/p>\n

Related Reading: Shiba Inu (SHIB) Price Could Soar To Major Highs Soon, Here\u2019s Why<\/a><\/div>\n

The bullish case of Shiba Inu is also supported by a possible bullish divergence of the RSI in the 1-day chart. This occurs when the RSI indicates an oversold condition (SHIB’s RSI dropped as low as 24 in May), followed by a higher low associated with lower price lows.<\/p>\n

Thus, the RSI of Shiba Inu price in the 1-day chart could indicate bullish momentum. The break above the oversold zone in recent days could be a signal for a new buy position. But the bearish case is still strong as well.<\/p>\n

SHIB traders do not want to see a drop below $0.00000716 at any cost. If this happens, it would be an alarming signal that SHIB could test the September 2021 low around $0,000006.<\/p>\n

Featured image from iStock, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"

After Shiba Inu (SHIB) had a fabulous rally at the beginning of the year, the price has been in a sustained downturn since February 5, which neither the beta launch of Shibarium nor an increase in monthly burn rates were able to prevent. With the price currently trading at $0.00000804, SHIB is thus at possibly the most important point in its young history. A look at the 1-day chart reveals that SHIB reached a local high of $0.00001575 on February 5, 2023. From that point until early May, the price formed a descending triangle with a horizontal trend line at $0.000010 acting as support for a long time. This price level was also aligned with the 23.6% Fibonacci level. Most Important Moment In Shiba Inu Price History? When the trend line was broken to the downside, the downtrend continued rapidly. All year-to-date gains were wiped out. However, one last hope may now be a triple bottom chart pattern, which the Shiba Inu price is currently exhibiting. The price area at $0.00000776 served as the last support back in mid-June 2022 and late December 2022, and now again. Shiba Inu meets all three characteristics of the chart pattern. Related Reading: Shiba Inu Hits Crucial Barrier \u2013 How This May Impact Investor Sentiment First, the three lows must be roughly equal in price and spaced apart by a certain distance (June and December 2022, June 2023). Second, volume must be decreasing throughout the pattern, which is a sign that the bears are losing strength. Looking at the time pattern of SHIB trading volume, this condition can also be considered to be met. Third, Shiba Inu has been in a steady downtrend with lower highs since the all-time high of late October 2021. Hence, the decisive moment might have come now: While the trading volume decreases during downward movements, the volume should increase during upward movements when the price breaks through the resistance levels. Only if that happens, a trend reversal seems possible. A very first resistance to break through is at $0.0000817. If successful, the 50-day Exponential Moving Average (EMA) currently at $0.00000907 could come into focus. However, probably the most important resistance to confirm a fake breakout is the 23.6% Fibonacci level at $0.000010. Related Reading: Shiba Inu (SHIB) Price Could Soar To Major Highs Soon, Here\u2019s Why The bullish case of Shiba Inu is also supported by a possible bullish divergence of the RSI in the 1-day chart. This occurs when the RSI indicates an oversold condition (SHIB’s RSI dropped as low as 24 in May), followed by a higher low associated with lower price lows. Thus, the RSI of Shiba Inu price in the 1-day chart could indicate bullish momentum. The break above the oversold zone in recent days could be a signal for a new buy position. But the bearish case is still strong as well. SHIB traders do not want to see a drop below $0.00000716 at any cost. If this happens, it would be an alarming signal that SHIB could test the September 2021 low around $0,000006. Featured image from iStock, chart from TradingView.com<\/p>\n","protected":false},"author":571,"featured_media":537240,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[92559],"tags":[83668,83667],"class_list":["post-537204","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-shiba-inu-coin","tag-shib","tag-shiba-inu"],"acf":[],"yoast_head":"\nShiba Inu (SHIB) Price At The Most Crucial Point In Its History?<\/title>\n<meta name=\"description\" content=\"The Shiba Inu (SHIB) price may be at the most crucial point in its still young history. 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Through his extensive work with uniquehot.com and Bitcoinist.com, Jake has become a trusted voice in the crypto community, guiding newcomers and seasoned enthusiasts alike towards a deeper understanding of this dynamic field. His mission is simple yet profound: to demystify Bitcoin and cryptocurrencies and make them accessible to everyone. With a professional career in the Bitcoin and crypto scene that began right after graduating with a degree in Information Systems in 2017, Jake has immersed himself in the industry. Jake joined the NewsBTC Group in late 2022. His educational background provides him with the technical prowess and analytical skills necessary to dissect complex topics and present them in an understandable format. Whether you are a casual reader curious about Bitcoin or an investor seeking to navigate the latest market trends, Jake\u2019s insights offer valuable perspectives that bridge the gap between complex technology and everyday usage. Jake is not just a reporter on technological trends; he is a firm believer in the transformative potential of Bitcoin over traditional fiat currencies. To him, the current financial system is on the brink of chaos, propelled by unchecked government actions and flawed Keynesian economic policies. Drawing from the principles of the Austrian school of economics, Jake views Bitcoin not merely as a digital asset but as a crucial step towards rectifying a failing monetary system. His libertarian views reinforce his stance that just as the church was separated from the state, so too should money be freed from governmental control. For Jake, Bitcoin represents more than just an investment; it's a peaceful revolution. He envisions a future where Bitcoin fosters a sustainable and responsible financial framework for generations to come. His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality. As a journalist, Jake\u2019s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies. In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it\u2019s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake\u2019s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time. You can engage with his latest takes on Twitter: @realJakeSimmons.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/realJakeSimmons"],"url":"https:\/\/uniquehot.com\/author\/marcusmisiak\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Shiba Inu (SHIB) Price At The Most Crucial Point In Its History?","url":"http:\/\/uniquehot.com\/news\/shiba-inu-coin\/shiba-inu-shib-price-at-most-crucial-point-in-history\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/shiba-inu-coin\/shiba-inu-shib-price-at-most-crucial-point-in-history\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/06\/iStock-1353098980.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/06\/iStock-1353098980.jpg?fit=2119%2C1414"},"articleSection":"Shiba Inu Coin","author":[{"@type":"Person","name":"Jake Simmons"}],"creator":["Jake Simmons"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["shib","shiba inu"],"dateCreated":"2023-06-09T16:25:15Z","datePublished":"2023-06-09T16:25:15Z","dateModified":"2024-06-11T07:50:36Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Shiba Inu (SHIB) Price At The Most Crucial Point In Its History?\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/shiba-inu-coin\\\/shiba-inu-shib-price-at-most-crucial-point-in-history\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/shiba-inu-coin\\\/shiba-inu-shib-price-at-most-crucial-point-in-history\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/06\\\/iStock-1353098980.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/06\\\/iStock-1353098980.jpg?fit=2119%2C1414\"},\"articleSection\":\"Shiba Inu Coin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Jake Simmons\"}],\"creator\":[\"Jake Simmons\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"shib\",\"shiba inu\"],\"dateCreated\":\"2023-06-09T16:25:15Z\",\"datePublished\":\"2023-06-09T16:25:15Z\",\"dateModified\":\"2024-06-11T07:50:36Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/06\/iStock-1353098980.jpg?fit=2119%2C1414","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/537204","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/571"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=537204"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/537204\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/537240"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=537204"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=537204"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=537204"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}