Hello Traders,
Here’s an update on Shiba Inu on the weekly timeframe.
In the early years of meme coins, SHIB was one of the pioneering tokens that started the trend and remains a strong contender with a market cap of over $7.78 billion.
Currently, SHIB is in a downtrend, with the price nearing the support range of $0.00001076 to $0.0000120. SHIB must hold this support and rebound toward the resistance trendline.
Failure to hold this support could likely trigger a drop to the lower support level at $0.000007.
Spot Trade Setup for SHIB:
- Accumulation Range 1: $0.00001076 to $0.0000120
- Accumulation Range 2: $0.0000056 to $0.0000071
- Primary Resistance/Short-term Target: $0.000026 to $0.000033
- Long-term Target: $0.000089 to $0.00015
Note: This content is for educational purposes only and not financial advice. Please do your research and analysis before investing.
Trade safely.
Best regards,
Team Dexter
