Krutika Adani
Shiba Inu (SHIB) is currently experiencing a downtrend. The memecoin's price dripped below the $0.00001830 price level in June and has been dripping further since.
SHIB seems stuck between $0.0000174 and $0.0000126, and the general short-term outlook seems bearish.
According to TradingView analytics, the 10-day EMA and SMA indicate buy signals, indicating that the bulls may be working on a short-term recovery on Shiba Inu.
Moreover, the RSI on the daily chart indicates a possible shift in momentum and is attempting to recover from the "oversold" reading.
In the short term, Shiba Inu seems poised to further carry its rebound from $0.00001266 and retest $0.00002853 in a 75% price rally.