Shiba Inu Boasts 91T SHIB Support at $0.000015

Shiba Inu now boasts robust support at the $0.000015 price level, with this territory defended by a large cluster of over 91.7 trillion SHIB tokens.

Shiba Inu price analysis for July 7 reveals that the meme coin has dropped below a crucial support level. However, a large demand wall might offer support at the current price.

Shiba Inu price analysis: key takeaways

Shiba Inu price dropped below a crucial support level.

However, a large demand wall might offer support at the current price.

The meme coin is still trading at a loss for the month of July.

Shiba Inu price analysis on a 24-hour chart

The 24-hour Shiba Inu price analysis chart shows a loss of 0.87 percent in price, bringing the meme coin to a price level of $0.00001559 at the time of writing. SHIB has faced both positive and negative price movements over the last 24 hours, with the lowest price being $0.00001526 and the highest being $0.00001617. The price volatility is also minimal, as can be seen from the Bollinger Bands, which are currently offering support at the lower band at $0.00001526 and resistance at the upper band at $0.00001643.

Shiba Inu price analysis on a 1-day chart

The 1-day Shiba Inu price analysis chart shows that the meme coin has dropped below a crucial support level. However, a large demand wall might offer support at the current price.

The 1-day Shiba Inu price analysis chart shows a loss of 8.63 percent in price over the last 30 days, which is a steeper decline than the losses shouldered by Bitcoin and top altcoins. This steeper loss for SHIB comes after the massive gains it enjoyed in June, setting the meme coin up for an eventual price recovery.

Shiba Inu price analysis reveals that the meme coin has dropped below a crucial support level, specifically at $0.000016. However, currently trading at $0.00001567, SHIB might find support at this price level.

As highlighted in our previous report, Shiba Inu demand walls are now visible at $0.000015 and $0.000010, offering support at these price levels. Interestingly, the demand wall at $0.000015 is the second-largest, only coming behind the massive 155.15 trillion SHIB defense at $0.000010.

Shiba Inu price analysis reveals that the meme coin is expected to mount more resilience against the downtrend at this level following the $0.000016 breach. For context, the support at $0.000016 only featured 5.07 trillion SHIB tokens, making it rather weak.🎜

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