The Shiba Inu price analysis for August 3rd, 2022, is coming in on a bearish note as meme coin prices have dropped by more than 2.7% over the last 24 hours and additional drops are also expected soon. What's more?
SHIB has maintained the price action above the $0.000011 price mark – that is quite interesting. However, the nearest support for the token stands at $0.000010, an area of major support that has been holding for a very long time.
Shiba Inu token has been struggling to break through major resistance at the $0.000012 price level, but so far it hasn't worked on numerous occasions.
The data from CoinMarketCap shows that the trading volume for SHIB has dropped by 34.75% in just 24 hours, while their market cap declined by 2.71%. Moreover, the Volume / Market Cap Ratio stands at a value of 0.06275, while the Market Dominance of the token rests at 0.61%.
The Shiba Inu's candle opened at $0.00001174 and reached its high for the day at $0.00001180 and a low of $0.00001160. SHIB is currently trading at $0.00001197.