Sellers are seizing the initiative at the end of the day, according to CoinStats.

SHIB chart by CoinStatsSHIB/USD

The price of SHIB has gone down by 1.68% since yesterday.

Image by TradingView

On the hourly chart, the price of SHIB is in the middle of the local channel. 

card

The volume has declined, which means there is a low chance of a sharp move until the end of the day.

Image by TradingView

A similar situation is developing on the bigger time frame. Until the price is below the resistance level of $0.00001440, bears are more powerful than bulls. Respectively, traders may witness a further drop to the $0.000013 range shortly.

Image by TradingView

On the weekly chart, the rate of SHIB has bounced off the support level. However, it remains not far from it. If selling pressure continues and the price gets back to $0.00001266, there is a possibility to see a test of the vital area of $0.000010.

SHIB is trading at $0.00001375 at press time.