The Shiba Inu price recently passed $0.000008 and there have been efforts to extend these gains. However, the sellers had different intentions, preventing the rally from rising further and aiming to keep the price below the EMA20 trendline. At the time of writing, SHIB price trades at $0.0000078, down more than 0.69% from yesterday's rate.
If the bears lower the price further, SHIB price could fall to $0.0000066-$0.000007. This level is crucial for bulls to hold because a breakdown could send the price to a new low of $0.0000054.
Typically, during an uptrend, bulls strongly protect the 100-day EMA. If this support remains strong, it could suggest that the upward trend is still intact. The bulls will likely attempt another push towards the $0.0000082 level. If the price breaks above the level, we could see a rise towards $0.0000087.
