Buyers are not ready yet to return to the game, according to CoinMarketCap.
Top coins by CoinMarketCapSHIB/USD
The price of SHIB has fallen by almost 7% since yesterday.
Image by TradingView
Despite today's sharp drop, the price of SHIB is going down, trading near the local support of $0.00002206. If a bounce does not happen until the end of the day, one can witness a test of the $0.000021 area tomorrow.
Image by TradingView
On the daily time frame, there are also no reversal signals yet as the bar is about to close near its low. In this case, there is a high chance to see a further drop to $0.000020 by the end of the week.
Image by TradingView
From the mid-term point of view, the rate of SHIB is coming back to the support level of $0.00002136.
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If the weekly bar closes below it, one can expect a test of the $0.000016-$0.000019 area in May.
SHIB is trading at $0.00002227 at press time.
