Shiba Inu drops to $0.000010: Will SHIB hold here?
Shiba Inu price analysis for May 26, 2022, comes on a bearish note for the token with increased chances of losing the $0.000010 price region as well. It seems that there might be certain situations where we can expect SHIB to break the $0.000012 price region but for that, the buying volume should increase. Additionally, in the last 24 hours, we have seen SHIB drop more than 6%. As noted in our SHIB price analysis for May 25, 2022, the meme coin has a major resistance beyond the $0.000012 while the nearest support for the token is at $0.000010 which needs to hold.
The data from CoinMarketCap shows that the trading volume for SHIB has jumped 15.53% in the last 24 hours, while the market cap of the token has dropped by 6.40% in the same duration. Moreover, the Volume / Market Cap Ratio stands at a value of 0.05965, while the Market Dominance of the token dropped to 0.49%.
The daily candle for Shiba Inu opened at a price of $0.00001161 and reached a daily high of $0.00001171. Moreover, the daily low for the token stands at a price of $0.00001072. The price of 1 SHIB at the time of writing is $0.00001086.
Shiba Inu price analysis on the daily chart for May 26
Shiba Inu price analysis for May 26 will take into consideration the data from the indicators integrated into the daily chart below.
Source: TradingView
The RSI indicator reads a value below 32 which means that the sellers are currently in control of the price action.
The MACD indicator shows that the MACD line remains above the signal line while the intensity of the MACD histogram is decreasing.
The Shiba Inu price action is situated in the bearish zone of the Bollinger Bands while the chances of retesting the middle zone are dropping.
Conclusion
Shiba Inu price analysis for May 26, 2022, ends on a bearish note for the meme coin with low chances of retaining $0.000010.
