Most of the cryptocurrencies keep setting new local peaks, according to CoinStats.

SHIB chart by CoinStatsSHIB/USD

The rate of SHIB has fallen by 2.79% over the past day.

Image by TradingView

On the hourly chart, the price of SHIB is breaking the local support of $0.00001777. 

card

If the daily bar closes below this mark, the drop is likely to continue to the $0.000017 area soon.

Image by TradingView

On the bigger time frame, bears are not ready to give up so easily. If today's bar closes below yesterday's candle's low, one can expect a test of the $0.000016-$0.000017 zone within the next few days.

Image by TradingView

From the midterm point of view, neither bulls nor bears are dominating, as the price has not reached crucial levels yet. Buyers may start thinking about a further upward move only if they restore the rate to the $0.000020 area.

SHIB is trading at $0.00001794 at press time.