Shiba Inu’s price has been on a downward trend since October. It broke below the base at the end of October and started moving higher. This formation prompted the bears to start buying into the SHIB price. The SHIBA INU price is $0.000415 today, with a live 24-hour trading volume of 1.928,762,636 USD. The Shiba Inu price is currently receiving support from an even trend line that began in November. As the markets move lower, a squeeze against bears emerged. SHIB price will time over time break through the red trend line and reach a potential target of $0.00005500. This will then lead to an explosion in buy-side demand.
The battle is between the bulls and the bears on the red descending trend line. If the latter manages to break it, expect the bears to defend it once more and push the price back towards the support line at $0.00024000. Shiba Inu is a decentralized digital coin created by Ryoshi, who created it in August 2020. Its quick rise and value were met with the attention of various influencers and celebrities. Shiba Inu is a decentralized dog-themed cryptocurrency that was going to compare to the Srypt-based mining algorithm of Dogecoin. Its creator is Sam Shiba Inu, a Shiba Inu dog.