Shiba Inu trading volume jumps: Buy now?

Shiba Inu price analysis
Source: TradingView

Shiba Inu price analysis for June 19, 2022, comes on a bearish note for the token with increased chances of breaking the $0.000008 price region if the bulls remain in control. In the last 24 hours, we have seen SHIB surge in prices by 0.26% which is not much, and hence, investors can expect SHIB to remain in a downtrend for the time being. As noted in our SHIB price analysis for June 18, 2022, the chances of the meme coin reclaiming the long-time resistance of $0.000010 remain low. Investors are advised to wait before buying SHIB.

The data from CoinMarketCap shows that the trading volume for SHIB has surged by 44.60% in the last 24 hours, while the market cap of the token has surged by 0.61% in the same duration. Moreover, the Volume / Market Cap Ratio stands at a value of 0.07419, while the Market Dominance of the token rose to 0.51%. 

The daily candle for Shiba Inu opened at a price of $0.00000772 and reached a daily high of $0.00000807. Moreover, the daily low for the token stands at a price of $0.00000739. The price of 1 SHIB at the time of writing is $0.00000791.

Shiba Inu price analysis on the daily chart for June 19

Shiba Inu price analysis for June 19, 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 32, confirming that bears are overall in control of the market action.

The MACD indicator shows that the MACD line is touching the signal line as the MACD histogram indicates sluggishness.

The Shiba Inu price action aims to break out from the lower end of the Bollinger Bands as the lower region of the Bands might not hold.


Shiba Inu price analysis for June 19, 2022, ends on a sluggish note for the SHIB token with high chances of holding breaking $0.000008.