The Shiba Inu price analysis fr July 15, 2022, comes on a sluggish note for the SHIB token as it is clear that the token continues to underperform despite retaining the 14th position in the crypto market. It seems that the bulls are unable to push the prices of the SHIB token higher because the demand of the meme coin remains low in the market. In the last 24 hours, the prices have jumped only 0.49% which is a very low number when compared to the price surge seem by SOL, BTC, or ETH. It seems that the 2nd biggest meme coin will continue to underperform in the near future.
As noted in our Shiba Inu price analysis for July 14, 2022, there are considerable chances of the token losing the current support around the $0.000010 price region if the bulls don’t take over soon.
The data from CoinMarketCap shows that the trading volume for SHIB has dropped by 15.59% in the last 24 hours, while the market cap of the token has surged by 0.68% in the same duration. Moreover, the Volume / Market Cap Ratio stands at a value of 0.05398, while the Market Dominance of the token dropped to 0.63%.
The daily candle for Shiba Inu opened at a price of $0.00001060 and reached a daily high of $0.00001063. Moreover, the daily low for the token stands at a price of $0.00001055. The price of 1 SHIB at the time of writing is $0.00001056.
Shiba Inu price analysis for July 15, 2022, will take into consideration the data from the indicators integrated into the daily chart below.
Source: TradingView
The RSI indicator reads a value below 51 which means that the bulls and the bears are evenly matched.
The MACD line is very close to the signal line which suggests that the sluggish movement for Shiba Inu continues.
The Shiba Inu price action is situated in the middle region of the Bollinger Bands which confirms sluggishness.
Shiba Inu price analysis for July 15, 2022, ends on a sluggish note as SHIB might lose the $0.000010 price support soon.
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