Shiba Inu loses 15th position in the market once again!

Cryptocurrency Price analysis and Prediction

August 11, 2022

Cryptocurrency Price analysis and Prediction

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Shiba Inu price analysis for August 11, 2022, comes on a bullish note for the world’s 2nd biggest meme coin as we can confirm that the SHIB token has surged by 3.31% in the last 24 hours and went on to reclaim the $0.000012 price level. However, one important thing that the investors should note here is that the SHIB token has lost its position as the 15th biggest cryptocurrency in the market once again which means that investors can expect the meme coin to drop in the near future as the buying demand for the SHIB token remains very low.

As noted in our SHIB price analysis for August 10, 2022, the Shiba Inu token has a support at the $0.000010 price level which has been holding for a very long time and investors can expect this region to hold in the near future as well.

The data from CoinMarketCap shows that the trading volume for SHIB has surged by 3.63% in the last 24 hours, while the market cap of the token has surged by 3.56% in the same duration. Moreover, the Volume / Market Cap Ratio stands at a value of 0.06886, while the Market Dominance of the token dropped to 0.59%.

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The daily candle for Shiba Inu opened at a price of $0.00001239 and reached a daily high of $0.00001260. Moreover, the daily low for the token stands at a price of $0.00001230. The price of 1 SHIB at the time of writing is $0.00001244.