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SHIB Price Analysis for February 5

Sun, 02/05/2023 - 18:30
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Denys Serhiichuk
How powerful is SHIB against other cryptocurrencies?
SHIB Price Analysis for February 5
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Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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Bears are more powerful than bulls on Sunday, according to CoinMarketCap's ranking.

Top coins by CoinMarketCap


SHIB is an exception, having risen by 2.76% over the past 24 hours.

SHIB/USD chart by TradingView

On the local time frame, the price has broken the support at $0.00001433, however, bulls are trying to restore the rate. If they manage to do that, growth may continue to the middle of the channel at $0.00001450 tomorrow.

SHIB/USD chart by TradingView

Meanwhile, bulls do not seem so powerful on the daily chart as the rate of SHIB could not keep yesterday's bullish candle. This statement is also confirmed by declining volume.

DOGE Price Analysis for February 3

Respectively, sideways trading in the area of $0.000014-$0.000015 is the more likely scenario so the meme coin could accumulate more energy for a further move.

SHIB/USD chart by TradingView

On the weekly time frame, the price has made a false breakout of the resistance level at $0.00001519. Currently, the place where the bar closes is crucial for bulls. If it happens near that mark without long wicks, the upward move may continue to the $0.000018 zone.

SHIB is trading at $0.00001438 at press time.

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About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at