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SHIB’s Latest Resurgence Could See It Close Above $0.00001

Published 12/07/2023, 06:34 PM
Updated 12/07/2023, 06:45 PM
SHIB’s Latest Resurgence Could See It Close Above $0.00001
SHIB/USD
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  • Shiba Inu (SHIB) surged over the past 24 hours and rose above $0.00001.

  • The meme coin has pulled back to trade below the $0.00001 resistance level at press time.

  • Technical indicators suggest that SHIB’s slight correction may be followed by another leg up to above $0.00001.

Shiba Inu (SHIB) surged over the past 24 hours and was able to briefly break above the $0.00001 threshold. Since then, it has corrected to trade below this significant price point. Despite this, technical indicators on the meme coin’s chart suggest that it could close a daily candle above $0.00001 soon. This may then give it the foundation to continue climbing.

Daily chart for SHIB/USDT (Source: TradingView)

SHIB was able to break above the $0.00000925 resistance level throughout the past 72 hours. This strong price movement continued, as SHIB temporarily surged through the $0.00001 barrier during yesterday’s trading session. In the past 24 hours, the meme coin was able to reach a peak of $0.1070. It has since undergone a correction to trade below $0.00001.

Technical indicators on the cryptocurrency’s daily chart suggested that there was still enough fuel in the tank for SHIB …

The post SHIB’s Latest Resurgence Could See It Close Above $0.00001 appeared first on Coin Edition.

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