Shiba Inu retains $0.000011 after a 2% price drop: Another crash incoming


Shiba Inu price analysis for July 9, 2022, comes on a bearish note for the world’s 2nd biggest meme coin as we can confirm that the token has dropped by more than 2% in the last 24 hours and it seems that there is a major support level for the meme coin at the $0.000010 price level. As noted in our SHIB price analysis for July 8, 2022, the SHIB token was able to reclaim the $0.000011 price level. Investors can expect the meme coin to make higher highs in the coming days if SHIB is capable of retaining the $0.000011 price level.

The Shiba Inu token is nearly 87.45% low than its all-time high of $0.00008845 which was witnessed in the month of Oct 28, 2021.

The data from CoinMarketCap shows that the trading volume for SHIB has surged by 12.53% in the last 24 hours, while the market cap of the token has dropped by 2.41% in the same duration. Moreover, the Volume / Market Cap Ratio stands at a value of 0.0914, while the Market Dominance of the token rose to 0.64%. 

The daily candle for Shiba Inu opened at a price of $0.00001120 and reached a daily high of $0.00001139. Moreover, the daily low for the token stands at a price of $0.00001102. The price of 1 SHIB at the time of writing is $0.00001112.

Shiba Inu price analysis on the daily chart for July 9

Shiba Inu price analysis for July 9, 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 56 which means that the bulls remain in control.

The MACD indicator shows that the MACD line is very close to the signal line and a bearish divergence can be expected.

The Shiba Inu price action is situated in the bullish region of the Bollinger Bands.


Shiba Inu price analysis for July 9, 2022, ends on a bearish note as SHIB aims to turn $0.000011 into support.

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