🔥😱Why Shiba Inu Price Could Erase Next Zero in February If Bitcoin Surpasses $50,000
Shiba Inu (SHIB), the second largest meme cryptocurrency, has been witnessing a sluggish price action for the past two weeks. The daily chart, which reflects short candles and longer wicks, does not reflect any bullish or bearish start in this momentum. However, when looking at the daily time zone chart, it seems that the Shiba Inu price has reached two important levels that are approaching a decisive break.
Is SHIB Ready to Exceed $0.00001?
The long-term trend in Shib shows a downward trend under the influence of the falling channel model.
The bullish trend from the resistance trend line will trigger the bullish trend
Shiba Inu's 24-hour trading volume stands at $ 75.3 Million with a loss of 23%.
The Shiba Inu price is narrowing within two converging trend lines that act as dynamic resistance and support. First of all, the decreasing trend line is managing the current correction trend and has recorded a loss of 24.5%, helping sellers to reduce the price from $ 0.00001195 to $ 0.000009.
The second is the rising trend line, which encourages buyers to restore bullish momentum during market declines. At the time of publication of the article, the SHIB price is trading at $ 0.00000914 and is near the peak of converging trend lines.
Therefore, it is likely that the coin price will break any of them. The bullish trend from the general trend line will mark the end of the correction and increase the SHIB value by 18% to reach $ 0.0000106. But a breakdown from the low trendline will push the correction to $0.00000776 and then to $0.0000066.
