Shiba Inu retains prices above this region: Least affected from the sell-off

banner-image

Shiba Inu price analysis for July 10, 2022, comes on a slightly bullish note for the 2nd biggest meme coin in the market as the prices have jumped by more than 1% in the last 24 hours. Interestingly, the meme coin has jumped from the 15th position in the crypto market to the 14th position and now aims to push above the $0.000012 price region which is an area of resistance for the SHIB token. Furthermore, it is clear that the token will aim for the $0.000012 price level in the coming days but the chances of breaking this region remain low due to a lack in volume, as noted in our SHIB price analysis for July 9, 2022.

Additionally, the Shiba Inu meme coin is one of the least affected tokens from the sell-off that was initiated in the last 24 hours in the market. Investors can expect prices to hold above $0.000011 if the situation remains the same.

The data from CoinMarketCap shows that the trading volume for SHIB has dropped by 23.66% in the last 24 hours, while the market cap of the token has surged by 1.56% in the same duration. Moreover, the Volume / Market Cap Ratio stands at a value of 0.06873, while the Market Dominance of the token rose to 0.66%. 

The daily candle for Shiba Inu opened at a price of $0.00001162 and reached a daily high of $0.00001167. Moreover, the daily low for the token stands at a price of $0.00001124. The price of 1 SHIB at the time of writing is $0.00001126.

Shiba Inu price analysis on the daily chart for July 10

Shiba Inu price analysis for July 10, 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 continue to dominate.

The MACD line is very close to the signal line which means that sluggish movement will prevail.

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

Conclusion

Shiba Inu price analysis for July 10, 2022, ends on a slightly bullish note as SHIB aims to turn $0.000011 into support.

Racer elaborated on the strained relationship between the Friend.tech team and..

Tornado Cash co-founder Roman Storm said that the prosecution failed to..

ads-image ads-image