The price of SHIB has fallen by almost 7% since yesterday.
Despite today's sharp drop, the price of SHIB is going down, trading near the local support of $0.00002206. If a bounce does not happen until the end of the day, one can witness a test of the $0.000021 area tomorrow.
On the daily time frame, there are also no reversal signals yet as the bar is about to close near its low. In this case, there is a high chance to see a further drop to $0.000020 by the end of the week.
From the mid-term point of view, the rate of SHIB is coming back to the support level of $0.00002136.
If the weekly bar closes below it, one can expect a test of the $0.000016-$0.000019 area in May.
SHIB is trading at $0.00002227 at press time.
