Shiba Inu (SHIB) Price Analysis
registered an almighty surge last week, registering a staggering increase of over 22% on Thursday, which saw the popular meme token race increase to $0.000018. Bullish sentiment also continued to dominate on Friday, with SHIB reaching a day high of $0.000021. However, strong selling pressure above the 200-day SMA pushed the price back below the moving average, with SHIB eventually settling at $0.000020, just below the 200-day SMA. With strong resistance at this level, SHIB fell into the red over the weekend as sellers overwhelmed buyers. After buyers failed in yet another push above $0.000020 on Saturday, sellers took control, and SHIB fell by 3.21% to $0.000019 and then registered yet another drop on Sunday to end the weekend on a bearish note
Selling pressure intensified on Monday as SHIB dropped over 9% to $0.000017, as sellers continued to drag the price lower. However, the price has rebounded during the ongoing session, with SHIB up by 5.47% and trading at $0.000018
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