Shiba Inu price analysis for July 14, 2022, comes on a slightly bullish note for the meme coin as we can confirm that it has surged more than 3% in the last 24 hours and investors can expect the meme coin to make higher highs in the coming days if it is capable of breaking above the $0.000013 price region and aim for the $0.000015 price region. However, it is clear that this is a major price resistance for the token and investors might see SHIB lose the current support region at the $0.000010 price region if bears remain dominating in the near future.
Additionally, as noted in our SHIB price analysis for July 13, 2022, there are considerable chances of the Shiba Inu meme coin lose the $0.000010 as it has on number of occassions as market sell-off continues.
The data from CoinMarketCap shows that the trading volume for SHIB has surged by 7.63% in the last 24 hours, while the market cap of the token has surged by 3.45% in the same duration. Moreover, the Volume / Market Cap Ratio stands at a value of 0.06068, while the Market Dominance of the token rests at 0.64%.
The daily candle for Shiba Inu opened at a price of $0.00001053 and reached a daily high of $0.00001066. Moreover, the daily low for the token stands at a price of $0.00001014. The price of 1 SHIB at the time of writing is $0.00001027.
Shiba Inu price analysis for July 14, 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 49 which means that the bulls have still not given up on higher highs.
The MACD line is very close to the signal line which suggest sluggish movement for Shiba Inu.
The Shiba Inu price action is situated in the lower region of the Bollinger Bands and a retest of the middle region is possible.
Shiba Inu price analysis for July 14, 2022, ends on a sluggish note as SHIB might lose the $0.000010 price support soon.
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