- SHIB’s price has dropped 3.45% over the last 24 hours.
- The meme coin’s price is trading in a consolidation channel.
- SHIB needs to close today above the 9-day EMA line in order for it to recover.
The second largest meme token by market cap, Shiba Inu (SHIB), experienced a 24-hour price drop according to CoinMarketCap. At press time, the price of SHIB is down 3.45% over the last 24 hours. As a result, SHIB’s price currently stands at $0.00001167.
SHIB’s negative 24-hour performance has added to its negative weekly performance, taking the meme coin’s price down 3.80% over the last 7 days.
Despite the 24-hour price drop, SHIB has strengthened against the two crypto market leaders, Bitcoin (BTC) and Ethereum (ETH), by 0.50% and 0.95% respectively.
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