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SHIB Price Analysis for March 12

Sun, 03/12/2023 - 19:00
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Denys Serhiichuk
Is price of SHIB ready to bounce back?
SHIB Price Analysis for March 12
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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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Some coins are ready to bounce back, according to CoinMarketCap's ranking.

Top coins by CoinMarketCap


The rate of SHIB has increased by 1% over the last day.

SHIB/USD chart by TradingView

Despite the slight rise, the rate of SHIB has broken the local support level at $0.00001014. If the price remains below that mark until the end of the day, the fall may continue to the vital zone of $0.000010 shortly.

SHIB/USD chart by TradingView

The situation is a little bit different on the daily time frame. The price is above the support at $0.00000982, which means that bulls are not ready to give up so easily.

BTC, ETH and XRP Price Analysis for March 11

All in all, consolidation in the narrow range around $0.000010 is the more likely scenario for the next few days.

SHIB/USD chart by TradingView

On the weekly chart, traders should pay attention to the support level at $0.00001007. If the candle closes near this mark or even below it, the upcoming week can also become bearish for SHIB with a potential decline to the $0.000009 area.

SHIB is trading at $0.00001013 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