- At press time, SHIB was attempting to challenge the $0.00000755 resistance level.
- SHIB was able to break above a medium-term negative trend line that had formed on its daily chart.
- SHIB’s price followed the rest of the cryptocurrency market and rose 3.97% over the past 24 hours.
The price movement of Shiba Inu (SHIB) coincided with the positive trend seen in the cryptocurrency market over the past 24 hours. According to data from the cryptocurrency market tracking website CoinMarketCap, the meme coin’s price was up 3.97%. This elevated its valuation to $0.000007418.
Daily chart for SHIB/USDT (Source: TradingView)
SHIB was able to break above a medium-term negative trend line that had formed on its charts throughout the past few months. Subsequently, the meme coin was able to flip the resistance level at $0.00000700 into support as well. The altcoin’s price then continued to rise over the past 48 hours and is currently attempting to break the $0.00000755 barrier.
Notably, SHIB was able to rise above this level briefly earlier in today’s trading session, but bears were quick to force it back down to trade below this price point at press time. I…
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