Shiba Inu retains $0.000026 as support as sluggish movement continues

Shiba Inu price analysis for April 15, 2022, comes on a bearish note for the token which shows a high possibility of retaining the $0.000026 support region. In the last 24 hours, the SHIB token has dropped by nearly 1.5% and investors can expect a further drop in prices if the meme coin is not able to maintain the current support. As noted in our SHIB price analysis for April 14, 2022, the meme coin will keep on trying to retain this support. 

The data from CoinMarketCap shows that the trading volume for SHIB has declined 35.38% in the last 24 hours, while the market cap of the token has dropped by 2.02% in the same duration. Moreover, the Volume / Market Cap Ratio stands at a value of 0.07437, while the Market Dominance of the token rests at 0.76%. 

The daily candle for Shiba Inu opened at a price of $0.00002578 and reached a daily high of $0.00002613. Moreover, the daily low for the token stands at a price of $0.00002561. The price of 1 SHIB at the time of writing is $0.00002603. 

Shiba Inu price analysis on the daily chart for April 15

Shiba Inu price analysis for April 15 will consider the data from the daily chart below which includes some of the major indicators on the daily chart.

Source: TradingView

The MACD indicator shows that the MACD line and the signal line are very close to each other and also, a bearish divergence seems quite likely to occur. 

The RSI indicator reads a value below 54 which confirms that the bears are currently losing their grips to the bulls. The gradient of the line suggests that sluggish movement will follow. 

The price action for Shiba Inu is situated in the upper end of the Bollinger Bands which means that bulls are currently in charge. 

Conclusion

The Shiba Inu price analysis for April 15, 2022, ends on a sluggish note for the token but SHIB might retain $0.000026.