Buyers are becoming weaker as most of the coins have returned to the red zone, according to CoinStats.

SHIB chart by CoinStatsSHIB/USD

The rate of SHIB has dropped by 0.48% over the last 24 hours.

Image by TradingView

On the hourly chart, the price of SHIB is testing the local support of $0.00001732. If it breaks out, the fall is likely to continue to the $0.000017 zone.

Image by TradingView

On the daily time frame, one should focus on the interim area of $0.000017. If the rate gets to it and the bar closes with no long wick, traders may witness a more profound decrease to the $0.000016-$0.00001650 range shortly.

Image by TradingView

From the midterm point of view, the price of SHIB is far from key levels. If buyers want to get back in the game, they need to restore the rate to the resistance of $0.00002017.

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In that case, one can expect growth to the $0.000022-$0.000024 area.

SHIB is trading at $0.00001736 at press time.