{"id":528289,"date":"2023-04-24T12:45:59","date_gmt":"2023-04-24T12:45:59","guid":{"rendered":"https:\/\/wncen.com\/?p=528289"},"modified":"2024-06-11T07:50:40","modified_gmt":"2024-06-11T07:50:40","slug":"shiba-inu-shib-price-faces-make-or-break-moment","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/shiba-inu-coin\/shiba-inu-shib-price-faces-make-or-break-moment\/","title":{"rendered":"Shiba Inu (SHIB) Price Faces Make-Or-Break Moment"},"content":{"rendered":"

The deep correction in the crypto market, led by the collapse of the Bitcoin price, has pushed the Shiba Inu (SHIB) price back into bearish territory. From a technical point of view, new bull moves are far away at the moment; before that, an make-or-break price level has to be defended and a resistance level that has manifested itself since the beginning of March has to be broken.<\/p>\n

Shiba Inu Price At Pivotal Point<\/h2>\n

But first things first. A look at the 1-day chart of Shiba Inu shows that the price has fallen to the edge of the key support level. At press time, SHIB was trading at $0.00001021, slightly above key support at $0.00001005.<\/p>\n

As recently as early last week, a bullish picture was evolving for Shiba Inu. The price formed an ascending triangle on the 1-day chart, which is one of the continuation patterns and thus opened the chance for a more than 50% rise within the next weeks.<\/p>\n

However, due to the market-wide downturn, SHIB broke the ascending triangle to the downside. The pattern was invalidated, so that the Shiba Inu price is now stuck again in the range between $0.00001005 and $0.00001151.<\/p>\n

Related Reading: Shiba Inu Price Holds Above $0.00001 \u2013 Is It Time For A Rally?<\/a><\/div>\n

If the bulls fail to defend the range, a fall to $0.00000965 would be the most likely scenario before SHIB could possibly drop to the price level at $0.00000855. A breakdown below the trading range would be a clear break with the trend.<\/p>\n

Holding the support is of utmost importance to start a new run towards the range high at $0.00001155.<\/p>\n

\"Shiba
Shiba Inu price, 1-day chart | Source: SHIBUSD on TradingView.com<\/a><\/figcaption><\/figure>\n

A look at the 1-hour chart reveals that SHIB is showing slight signs of recovery. The price has initially formed a falling trend line which was broken at press time. This was followed by a re-test that is currently underway. SHIB now needs to show a significant move to the upside; at best a bounce and break above the $0.00001080 price level.<\/p>\n

\"Shiba
SHIB price, 1-hour chart | Source: SHIBUSD on TradingView.com<\/figcaption><\/figure>\n

IntoTheBlock data shows that SHIB has formed major resistances both above and below. The main bid wall below Shiba Inu sits at $0.000009. Around this price level, 43,000 addresses bought around 10.24 trillion SHIB. A daily close below this resistance level could have massive bearish implications.<\/p>\n

\"SHIB
SHIB In\/Out of the Money Around Price | Source: IntoTheBlock<\/a><\/figcaption><\/figure>\n
Related Reading: Shiba Inu Whales On Buying Spree, Add 311 Billion Tokens During Price Dip<\/a><\/div>\n

IntoTheBlock’s data also shows that 200 billion SHIB was bought by whales last week. As NewsBTC reported<\/a>, SHIB has recently been experiencing increased interest from this cohort of investors.<\/p>\n

This can be a clear bullish indicator. However, at the time of writing, the increased interest in SHIB from ETH whales has not yet paid off.<\/p>\n

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

The deep correction in the crypto market, led by the collapse of the Bitcoin price, has pushed the Shiba Inu (SHIB) price back into bearish territory. From a technical point of view, new bull moves are far away at the moment; before that, an make-or-break price level has to be defended and a resistance level that has manifested itself since the beginning of March has to be broken. Shiba Inu Price At Pivotal Point But first things first. A look at the 1-day chart of Shiba Inu shows that the price has fallen to the edge of the key support level. At press time, SHIB was trading at $0.00001021, slightly above key support at $0.00001005. As recently as early last week, a bullish picture was evolving for Shiba Inu. The price formed an ascending triangle on the 1-day chart, which is one of the continuation patterns and thus opened the chance for a more than 50% rise within the next weeks. However, due to the market-wide downturn, SHIB broke the ascending triangle to the downside. The pattern was invalidated, so that the Shiba Inu price is now stuck again in the range between $0.00001005 and $0.00001151. Related Reading: Shiba Inu Price Holds Above $0.00001 \u2013 Is It Time For A Rally? If the bulls fail to defend the range, a fall to $0.00000965 would be the most likely scenario before SHIB could possibly drop to the price level at $0.00000855. A breakdown below the trading range would be a clear break with the trend. Holding the support is of utmost importance to start a new run towards the range high at $0.00001155. A look at the 1-hour chart reveals that SHIB is showing slight signs of recovery. The price has initially formed a falling trend line which was broken at press time. This was followed by a re-test that is currently underway. SHIB now needs to show a significant move to the upside; at best a bounce and break above the $0.00001080 price level. IntoTheBlock data shows that SHIB has formed major resistances both above and below. The main bid wall below Shiba Inu sits at $0.000009. Around this price level, 43,000 addresses bought around 10.24 trillion SHIB. A daily close below this resistance level could have massive bearish implications. Related Reading: Shiba Inu Whales On Buying Spree, Add 311 Billion Tokens During Price Dip IntoTheBlock’s data also shows that 200 billion SHIB was bought by whales last week. As NewsBTC reported, SHIB has recently been experiencing increased interest from this cohort of investors. This can be a clear bullish indicator. However, at the time of writing, the increased interest in SHIB from ETH whales has not yet paid off. Featured image from Coins.ph, chart from TradingView.com<\/p>\n","protected":false},"author":571,"featured_media":528301,"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-528289","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 Faces Make-Or-Break Moment<\/title>\n<meta name=\"description\" content=\"The deep correction in the crypto market, has pushed the Shiba Inu price back into bearish territory. 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Through his extensive work with wncen.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:\/\/wncen.com\/author\/marcusmisiak\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Shiba Inu (SHIB) Price Faces Make-Or-Break Moment","url":"http:\/\/wncen.com\/news\/shiba-inu-coin\/shiba-inu-shib-price-faces-make-or-break-moment\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/shiba-inu-coin\/shiba-inu-shib-price-faces-make-or-break-moment\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/04\/What-is-SHIB_-1.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/04\/What-is-SHIB_-1.png?fit=1200%2C697"},"articleSection":"Shiba Inu Coin","author":[{"@type":"Person","name":"Jake Simmons"}],"creator":["Jake Simmons"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["shib","shiba inu"],"dateCreated":"2023-04-24T12:45:59Z","datePublished":"2023-04-24T12:45:59Z","dateModified":"2024-06-11T07:50:40Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Shiba Inu (SHIB) Price Faces Make-Or-Break Moment\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/shiba-inu-coin\\\/shiba-inu-shib-price-faces-make-or-break-moment\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/shiba-inu-coin\\\/shiba-inu-shib-price-faces-make-or-break-moment\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/04\\\/What-is-SHIB_-1.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/04\\\/What-is-SHIB_-1.png?fit=1200%2C697\"},\"articleSection\":\"Shiba Inu Coin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Jake Simmons\"}],\"creator\":[\"Jake Simmons\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"shib\",\"shiba inu\"],\"dateCreated\":\"2023-04-24T12:45:59Z\",\"datePublished\":\"2023-04-24T12:45:59Z\",\"dateModified\":\"2024-06-11T07:50:40Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/04\/What-is-SHIB_-1.png?fit=1200%2C697","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/528289","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/571"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=528289"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/528289\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/528301"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=528289"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=528289"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=528289"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}