⚡️ Is Shiba Inu Ready for a 20% Rally?
Shiba Inu (SHIB), the popular meme-inspired cryptocurrency, continues to grab headlines even in the middle of a market slowdown. Known for its massive community and speculative surges, SHIB price has seen its price fluctuate wildly over the past few months. As traders look for clues about where it’s heading next, the daily chart tells an important story of consolidation, weakening momentum, and potential breakout opportunities. In this analysis, we’ll break down SHIB’s current price action, and key support and resistance levels.
🔸 Shiba Inu Price Prediction: Current SHIB Price Structure
The daily Shiba Inu (SHIB) chart shows the token hovering around $0.00001147 to $0.00001167. After a mid-May peak above $0.00001800, #SHIB price has steadily declined, forming a clear downtrend that recently flattened into sideways price action. The Heikin Ashi candles are mixed, indicating indecision and low momentum.
Notably, Shiba Inu price is consolidating near a horizontal support line, which appears to be around $0.00001140. This area has been tested multiple times without a clean breakdown, suggesting it is acting as a base for now. However, a lack of strong green momentum signals that buyers are not stepping in aggressively yet.
🔸 Shiba Inu Price Prediction: Will SHIB Hold or Slip in July?
Considering the current sideways movement and the RSI’s struggle below 50, SHIB price is likely to stay range-bound in the short term. The probable range is $0.00001100 to $0.00001250 for the coming week. If Bitcoin and the broader market see relief rallies, Shiba Inu price could catch momentum and test $0.00001400 by late July.
However, if SHIB price breaks below $0.00001100 with strong volume, expect a retest of the psychological $0.00001000 mark. Right now, SHIB is in a decision zone. Traders should watch for a daily close above $0.00001250 for signs of bullish continuation or below $0.00001100 for a deeper dip.