$SHIB Price Analysis for December 28

The post SHIB Price Analysis for December 28 appeared first on Coinpedia Fintech News

SHIB/USDT is trading at $0.00002208, marking a 2.89% increase in the last 24 hours. With a market cap of $12.96B, SHIB holds the 14th rank in global cryptocurrency rankings. This gain reflects mild bullish momentum, with SHIB attempting to recover from recent consolidation.

Market Overview

Market Dominance: 0.3923%

Volume: $313.66M (Vol/Market Cap: 2.42%)

Circulating Supply: 589.26T SHIB

Bullish Sentiment Emerging

SHIB has shown resilience after its recent dips, with its price moving closer to breaking key resistance levels. While it remains far from its all-time high of $0.00008845 (October 28, 2021), the recent uptrend suggests renewed interest from investors.

Key Support and Resistance Levels

Support: $0.00002150 – SHIB must hold above this level to sustain its upward trajectory.

Resistance: $0.00002350 – Breaking this resistance could propel SHIB towards the next target at $0.00002500.

Short-Term Technical Outlook

SHIB is currently navigating within a consolidation range, suggesting indecision among market participants. A breakout above $0.00002350 could confirm the beginning of a larger rally, while failure to hold support at $0.00002150 could lead to a retest of $0.00002000.

Long-Term Potential

SHIB’s impressive circulation supply of 589.26T tokens and community-driven growth provide a strong foundation. However, significant upside potential will depend on sustained bullish momentum and broader market recovery.

Risk Management Levels

Key Level to Watch: $0.00002150

A breakdown below this level increases downside risk, while sustained trading above $0.00002350 could confirm bullish continuation.

---

SHIB is gradually building momentum, but a breakout above $0.00002350 is crucial for further gains. Support at $0.00002150 will remain pivotal for traders monitoring downside risks.