Much like the majority of assets in the cryptocurrency market that are feeling the pressure stemming from the recent geopolitical developments, Shiba Inu (SHIB) is currently in a largely bearish mode, although the bears seem to be showing signs of exhaustion.
As it happens, SHIB is currently changing hands at the price of $0.0000068794, recording a decline of 0.78% in the last 24 hours, as well as losing 5.28% to its value over the previous seven days, adding up to the 4.8% drop across the past month, as the most recent charts indicate.
Shiba Inu 7-day price chart. Source: Finbold
SHIB price action analysis
Specifically, Shiba Inu has formed a falling wedge pattern on its daily chart, simultaneously teasing a downtrend continuation below $0.00000651 following a sharp bearish reversal from August while signaling a chance at a bullish revival if it manages to bounce back from the critical support baseline.
Currently, Shiba Inu is trading well below its 50-day simple moving average (SMA)
We współpracy z: https://finbold.com/shib-market-analysis-a-deep-dive-into-price-and-development-dynamics/
