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Most of the coins may have reached their peaks, according to CoinMarketCap.
SHIB/USD
The price of SHIB has declined by 4.2% over the last 24 hours.
On the hourly chart, the rate of SHIB is rising after testing the local support of $0.00001203. If the daily bar closes far from that level, one can expect a test of the $0.00001240-$0.00001250 range soon.
On the longer time frame, the price of SHIB is going down after yesterday's bearish bar closure.
However, if the candle closes with a short wick, bulls may again seize the initiative, followed by a bounce back to the $0.00001230-$0.00001240 zone.
From the midterm point of view, the situation is more bearish than bullish as the rate of the meme coin is closer to the support than to the resistance level. If the drop continues, traders may expect a dump to the $0.000011 area.
SHIB is trading at $0.00001217 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team