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The rates of coins keep going down today, according to CoinStats.
SHIB/USD
The price of SHIB has declined by almost 11% over the last 24 hours.
On the hourly chart, the rate of SHIB is coming back to the local support level of $0.00001235. If the situation does not change by the end of the day, one can expect a breakout, followed by a move to the $0.000012 zone.
On the daily time frame, the price of the meme coin keeps falling after yesterday's bearish closure.
Denys SerhiichukAs there are no reversal signals yet, the breakout of the support of $0.00001158 may lead to a test of the $0.000010-$0.000011 zone.
From the midterm point of view, sellers remain more powerful than buyers. The volume keeps falling, which means traders are unlikely to see a bounce back shortly.
SHIB is trading at $0.00001259 at press time.
Dan Burgin
Vladislav Sopov