SHIB Price Prediction: Potential decline awaits

Shiba Inu price changes hands at $0.00002393 after escaping the downtrend it was under for two and a half months. The meme coin is currently consolidated at $0.00002584 and $0.00002267.

The Ichimoku cloud also supports this result, since it is above the candles and shows a bearish trend. The Ichimoku Cloud is a comprehensive indicator that identifies support and resistance, identifies trend direction, measures momentum, and provides trading signals.

Therefore, the price of Shiba Inu is likely to see a decline.

On the other hand, if the meme coin can sustain the breakout, it may break the $0.00002584 resistance. This would push SHIB towards $0.00002835, and flipping it to support would invalidate the bearish thesis, sending the meme coin higher.

Disclaimer: Everything I write and record is based on my diligence and research

I do not advise or recommend investing in any currency.