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Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U. Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Most of the coins are in the green zone, according to CoinStats.
The rate of SHIB has increased by 1.2% over the last 24 hours.
Despite today’s rise, the price of SHIB is looking bearish on the hourly chart. It is coming back to the local support level of $0.00003129. If the situation does not change by the end of the day, one can expect a breakout, followed by a move to the $0.000030 zone.
A better picture can be seen on a longer time frame. At the moment, the price of SHIB has not reached important levels, which means that neither bulls nor bears are dominating at the moment.
In this case, sideways trading around $0.000031 is the more likely scenario for the next few days.
From the midterm point of view, the rate of SHIB remains bullish until it is above the $0.00002966 level. However, if it breaks out, traders may witness a correction to the $0.000025 area.
SHIB is trading at $0.00003194 at press time.