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The post <a rel="noopener noreferrer nofollow" href="https://coinpedia.org/price-analysis/shiba-inu-price-analysis-with-shibarium-live-will-shib-price-complete-a-bullish-maneuver/">Shiba Inu Price Analysis: With Shibarium Live, Will SHIB Price Complete A Bullish Maneuver?</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a> 
With the launch of <a href="https://coinpedia.org/news/shibarium-is-now-live-shiba-inus-ethereum-l2-network-hits-mainnet/" rel="noopener noreferrer nofollow">Shibarium</a>, an Ethereum layer-2 network, Shiba Inu takes another step to become a serious blockchain project. To provide a real-world use case, Shibarium focuses on DeFi and gaming and will use SHIB tokens as fees. 
The launch of the Shibarium network struggles to bring a notable spark in Shiba Inu coin prices in a bearish market. With Bitcoin falling below a consolidation range, the altcoins suffer a similar fate.&nbsp; 
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The Shiba Inu coin price is falling drastically over the past few days as it reverses from the 50% Fibonacci level at $0.0000106. Following the evening star, the SHIB coin price is down by 14% leading to multiple bearish candles.&nbsp; 
As a worst-case scenario mentioned in our last <a href="https://coinpedia.org/price-analysis/shib-price-analysis-with-an-extended-rally-will-shiba-inu-reach-0-000013/" rel="noopener noreferrer nofollow">SHIB price analysis</a>, the meme coin tests the 200-day EMA. However, the long tail formation in the daily candle, at press time, displays a lower price rejection. This lights a reversal hope if the prices sustain above the 200-day EMA. 
The SHIB coin price currently finds an intraday growth of 1.30% and trades at $0.00000933, closing in on the psychological mark of $0.000010. 
The dramatic increase in trading volume adds credibility to the correction phase, and the technical indicators represent the same. The MACD indicator shows a bearish crossover, and the RSI line drops to the halfway line.&nbsp; 
If the bullish trend sustains above the 200-day EMA, the reversal rally can reclaim the $0.000010. Moreover, the 50% Fibonacci level breakout will drive an additional 21% gain in the Shiba Inu coin price to reach $0.00001296. 
On the flip side, if the SHIB prices fail to rise above the 200-day, the downtrend will test the 50-day EMA. The following downtrend can challenge the bullish dominance of the ascending trendline, marking a deep correction and potential dip to buy.&nbsp;

Shiba Inu Price Analysis: With Shibarium Live, Will SHIB Price Complete A Bullish Maneuver?

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