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Bulls have failed to hold the initiative until the end of the day, according to CoinStats.
SHIB/USD
The price of SHIB has dropped by 4.34% since yesterday.
On the hourly chart, the rate of SHIB might have set a local support of $0.00000831. If the daily candle closes far from that mark, one can expect a test of the $0.00000870 area by tomorrow.
On the longer time frame, the price of the meme coin is far from key levels. As none of the sides is dominating, ongoing sideways trading in the range of $0.00000840-$0.00000880 is the most likely scenario.
From the midterm point of view, the situation is similar.
However, if the weekly bar closes near $0.000007, the accumulated energy might be enough for a level breakout, followed by a test of the $0.0000060 area.
SHIB is trading at $0.00000844 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team