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Bulls are weaker than bears at the beginning of the weekend, according to CoinMarketCap.
SHIB/USD
The price of SHIB has declined by 0.8% since yesterday.
On the hourly chart, the rate of SHIB is looking bearish as it is near the local support of $0.00001140. If a breakout happens, the fall may continue to the $0.00001130 range shortly.
On the bigger time frame, the price of the meme coin is on the way to the support of $0.00001116.
If the rate fixes below that mark, the accumulated energy might be enough for a move to the $0.000011 area.
From the midterm point of view, bulls have failed to maintain the rise after the previous bullish closure. If buyers want to continue the upward move, traders should restore the rate of SHIB above the $0.000012 zone.
SHIB is trading at $0.00001141 at press time.
Vladislav Sopov
U.Today Editorial Team