Shiba Inu loses $0.000010 price level while retaining 15th position

Shiba Inu price analysis
Source: TradingView

Shiba Inu price analysis for June 30, 2022, comes on a sluggish note for the meme coin as it has finally lost the $0.000010 price region which was a region of support for the SHIB token. Furthermore, as noted in our SHIB price analysis for June 29, 2022, there are increased chances of the token retaining the $0.000009 price level as well. However, it is clear that the nearest price resistance stands beyond the $0.000012 price zone which the token failed to breach on multiple occasions. It will be interesting to see if SHIB is capable of breaking into an uptrend.

The data from CoinMarketCap shows that the trading volume for SHIB has surged by 16.57% in the last 24 hours, while the market cap of the token has surged by 0.75% in the same duration. Moreover, the Volume / Market Cap Ratio stands at a value of 0.1106, while the Market Dominance of the token rose to 0.64%. 

The daily candle for Shiba Inu opened at a price of $0.00001021 and reached a daily high of $0.00001045. Moreover, the daily low for the token stands at a price of $0.00000962. The price of 1 SHIB at the time of writing is $0.00000991.

Shiba Inu price analysis on the daily chart for June 30

Shiba Inu price analysis for June 30, 2022, will take into consideration the data from the indicators integrated into the daily chart below.

Shiba Inu price analysis
Source: TradingView

The RSI indicator reads a value below 48 which confirms that the bears and the bulls continue their struggle for dominance.

The MACD indicator shows that the MACD line is moving closer to the signal line while the intensity of the MACD histogram is decreasing.

The Shiba Inu price action is retesting the middle region of the Bollinger Bands and a bearish breakout might follow.

Conclusion

Shiba Inu price analysis for June 30, 2022, ends on a bearish note for the SHIB token with low chances of reclaiming $0.000010.

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