Shiba Inu price analysis for July 30, 2022, comes on a bearish note for the world’s 2nd biggest meme coin as we can confirm that the prices have dropped by more than 4.3% in the last 24 hours and additional price drop might also come in the near future. The nearest resistance for the token stands at the $0.000012 price level which the meme coin was unable to push through due to a sudden bearish pressure coming in the market. Additionally, we have also seen the meme coin lose its 15th position in the market in the past few day.
As noted in our SHIB price analysis for July 29, 2022, the Shiba Inu coin has a strong support at the $0.000010 price region which has been holding for a long and we can expect a retest of this region in the near future.
The data from CoinMarketCap shows that the trading volume for SHIB has dropped by 21.22% in the last 24 hours, while the market cap of the token has dropped by 3.41% in the same duration. Moreover, the Volume / Market Cap Ratio stands at a value of 0.0841, while the Market Dominance of the token dropped 0.59%.
The daily candle for Shiba Inu opened at a price of $0.00001174 and reached a daily high of $0.00001196. Moreover, the daily low for the token stands at a price of $0.00001163. The price of 1 SHIB at the time of writing is $0.00001163.
Shiba Inu price analysis on the daily chart for July 30
Shiba Inu price analysis for July 30, 2022, will take into consideration the data from the indicators integrated into the daily chart below.
The RSI indicator reads a value below 55 which means that the buyers fail to retain their strength against the sellers.
The MACD line is very close to the signal line as the Shiba Inu price action remains devoid of capital.
The Shiba Inu price action is retesting the middle zone of the Bollinger Bands with considerable chances of a breakout into the bearish region.
Conclusion
Shiba Inu price analysis for July 30, 2022, ends on a bearish note for the SHIB token with high chances of retesting $0.000010.
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