🐭 The price of memecoin Shiba Inu (SHIB), which attracted the attention of the cryptocurrency market the other day, increased by 10.17% and reached $ 0.000022.

🐁 Thanks to this development, its market value increased to $ 12,968,327,843 and ranked 11th on CoinMarketCap.

🐈The market's excitement for SHIB coins is clearly evident with a circulating supply of over 589 trillion coins, even without a maximum supply limit.

🐏 How Much Does a Shiba Inu Cost?

🐄 To understand the short-term trend of Shiba Inu, it is necessary to analyze its 4-hour chart, which reveals important price levels.

🦁 The pivot point has been set at $0.000021 and the trading range is now based on it. The $0.000024, $0.000026, and $0.000028 resistance levels indicate possible obstacles to SHIB's rise.

🐆 On the other hand, price declines may face resistance at the $0.000019, $0.000018, and $0.000017 support levels.

🐆 Technical indicators provide additional light on SHIB's market situation. With an RSI of 71, investors are showing intense buying activity but are approaching the overbought zone.

🐺 The asset's consistent uptrend over the past few weeks is reflected in the 50-Day Exponential Moving Average (EMA) at $0.000014

🐻 Shiba Inu price reached the 23.6% Fibonacci retracement level at around $0.0000210 and resistance lies at $0.0000237.

🐹 This indicates that the entity is near a turning point; A break above this resistance could create additional bullish sentiment.

🐼 If the price falls below this level, the 38.2% Fibonacci retracement could become significant and indicate where investors may want to place their money.

🐨 Finally, Shiba Inu is showing an upward trend above the pivot point but it is still bearish below the $0.0000237 resistance level.

🐣 If a break above this level triggers a stronger uptrend, price increases may occur.

$SHIB