No signs of relief: Shiba Inu retains $0.0000008
Shiba Inu price analysis for June 13, 2022, comes on a bearish note for the token with increased chances of losing the $0.000008 price region in the next few days. Additionally, we saw in the last few days that the meme coin has added another zero to its prices which is not a very optimistic sign. As noted in our SHIB price analysis for June 12, 2022, the meme coin has a major resistance region towards the $0.000010 price region which was earlier a support level for SHIB.
The data from CoinMarketCap shows that the trading volume for SHIB has surged by 21.67% in the last 24 hours, while the market cap of the token has dropped by 14.16% in the same duration. Moreover, the Volume / Market Cap Ratio stands at a value of 0.1334, while the Market Dominance of the token rose to 0.45%.
The daily candle for Shiba Inu opened at a price of $0.00000859 and reached a daily high of $0.00000879. Moreover, the daily low for the token stands at a price of $0.00000742. The price of 1 SHIB at the time of writing is $0.00000792.
Shiba Inu price analysis on the daily chart for June 13
Shiba Inu price analysis for June 13, 2022, will take into consideration the data from the indicators integrated into the daily chart below.
Source: TradingView
The RSI indicator reads a value below 25 which confirms that the selling pressure is considerably high and the Shiba Inu token is now being oversold.
The MACD indicator shows that the MACD line has broken below the signal line confirming bearish divergence for the token.
The Shiba Inu price action has broken out from the lower end of the Bollinger Bands which means that selling pressure is very high.
Conclusion
Shiba Inu price analysis for June 13, 2022, comes on a bearish note for the SHIB token as chances of losing $0.000008 have surged.
