The SHIB price analysis for July 28, 2022, comes on a bullish note as investors might see the Shiba Inu token moving towards $0.000012 in the near future if bears remain at bay.
The price of the cryptocurrency SHIB token has seen a 5% rise over the last 24 hours. But this is not as good compared to Bitcoin, Ether, or Solana’s impressive boosts in value. It seems like the meme cryptocurrency craze has died down, and people are less interested in such tokens.
There is a huge chance that the SHIB token might retest its $0.000012 price region, beyond which lies major resistance.
The data from CoinMarketCap shows that the trading volume for SHIB has skyrocketed in recent days, with an increase of 49.69%. Also, the token’s market cap has surged by 5.43% during the same period..
The daily candle for SHIB at $0.00001151 and reached a daily high of $0.00001153. The price of SHIB at the time of writing stands at $0.00001140, with a daily low of $0.00001136.
Shiba Inu Price Analysis
The RSI indicator remains below 54, meaning that bulls remain in control of the price action for SHIB tokens.
The MACD line is a little bit close to the signal line, which could mean that Shiba Inu’s prices will be sluggish for some time.
The Shiba Inu price action is currently confined within the Bollinger Bands, with a resolute push that could lead to an exciting bullish breakout.