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 <p>The price of crypto assets made no progress during the weekend. Bitcoin traded below $26,000, and most other assets ended up following suit. Amid the ongoing rut, the crypto market cap has yet again dropped to the cusp of $1 trillion. In fact, other mid-cap assets, like Shiba Inu, have not been spared either. At press time, the $4.1 billion worth of assets were seen exchanging hands at $0.00000709.</p> 
 <p>SHIB is currently trading within a low liquidity zone ranging from $0.0000072 to $0.00000765. This means, there is a lack of interest for SHIB around its current trading price. Consequentially, this narrows down the odds of an immediate recovery. </p> 
 <p>On the weekly timeframe, Shiba Inu is in the midst of a macro-downtrend. Currently, it is trading in the middle of the set-up, below its MA, suggesting that the consolidation could continue. If its price drops to the lower trend line eventually, then a brief bounce back can be expected. Contrarily, if it tests the upper trend line and fails to break above, a downtrend will likely materialize for the asset. </p> 
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  <img decoding="async" src="https://cdn.thebittimes.com/images/2023/09/12/e8e6829ff4e2c262a26ac8bd2ece069b.webp" alt class="wp-image-111254" style="width: 100%;height:366px" width="700" height="366" srcset="https://cdn.thebittimes.com/images/2023/09/12/e8e6829ff4e2c262a26ac8bd2ece069b.webp 1024w, https://cdn.thebittimes.com/images/2023/09/12/e8e6829ff4e2c262a26ac8bd2ece069b.webp 300w, https://cdn.thebittimes.com/images/2023/09/12/e8e6829ff4e2c262a26ac8bd2ece069b.webp 768w, https://cdn.thebittimes.com/images/2023/09/12/e8e6829ff4e2c262a26ac8bd2ece069b.webp 1536w, https://cdn.thebittimes.com/images/2023/09/12/e8e6829ff4e2c262a26ac8bd2ece069b.webp 380w, https://cdn.thebittimes.com/images/2023/09/12/e8e6829ff4e2c262a26ac8bd2ece069b.webp 550w, https://cdn.thebittimes.com/images/2023/09/12/e8e6829ff4e2c262a26ac8bd2ece069b.webp 800w, https://cdn.thebittimes.com/images/2023/09/12/e8e6829ff4e2c262a26ac8bd2ece069b.webp 1160w, https://cdn.thebittimes.com/images/2023/09/12/e8e6829ff4e2c262a26ac8bd2ece069b.webp 1920w" sizes="(max-width: 700px) 100vw, 700px"> 
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    SHIB/USDT by TradingView 
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 <p><strong>Also Read:&nbsp;Shiba Inu: ‘High Demand’ Provoked SHIB’s 46,000,000% Rise</strong></p> 
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 <h3 class="wp-block-heading" id="h-are-there-any-on-chain-obstacles-for-shiba-inu">Are There Any On-chain Obstacles For Shiba Inu?</h3> 
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  <img decoding="async" src="https://cdn.thebittimes.com/images/2023/09/12/e61da490d4ebdac40b49074b0e3e3cc4.webp" alt class="wp-image-111049" style="width: 100%;height:394px" width="700" height="394" srcset="https://cdn.thebittimes.com/images/2023/09/12/e61da490d4ebdac40b49074b0e3e3cc4.webp 1024w, https://cdn.thebittimes.com/images/2023/09/12/e61da490d4ebdac40b49074b0e3e3cc4.webp 300w, https://cdn.thebittimes.com/images/2023/09/12/e61da490d4ebdac40b49074b0e3e3cc4.webp 768w, https://cdn.thebittimes.com/images/2023/09/12/e61da490d4ebdac40b49074b0e3e3cc4.webp 380w, https://cdn.thebittimes.com/images/2023/09/12/e61da490d4ebdac40b49074b0e3e3cc4.webp 550w, https://cdn.thebittimes.com/images/2023/09/12/e61da490d4ebdac40b49074b0e3e3cc4.webp 800w, https://cdn.thebittimes.com/images/2023/09/12/e61da490d4ebdac40b49074b0e3e3cc4.webp 1160w, https://cdn.thebittimes.com/images/2023/09/12/e61da490d4ebdac40b49074b0e3e3cc4.webp 1280w" sizes="(max-width: 700px) 100vw, 700px"> 
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    Source: Coin Culture 
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 <p><strong>Also Read: Shiba Inu Forecasted to Rise 650%: Here’s When</strong></p> 
 <p>From the on-chain perspective, there is currently only one major resistance cluster extending from $0.000008 to $0.000014 for SHIB. In this range, 290 trillion SHIB tokens have been purchased by nearly 417,000 addresses. Thus, if the buy orders start stacking up, then a gradual ascent to the floor of the range can be expected from SHIB in September. </p> 
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  <img decoding="async" loading="lazy" width="1024" height="343" src="https://cdn.thebittimes.com/images/2023/09/12/34fd2985ab66dc0e9a77e6afaa2c09ba.webp" alt class="wp-image-111256" srcset="https://cdn.thebittimes.com/images/2023/09/12/34fd2985ab66dc0e9a77e6afaa2c09ba.webp 1024w, https://cdn.thebittimes.com/images/2023/09/12/34fd2985ab66dc0e9a77e6afaa2c09ba.webp 300w, https://cdn.thebittimes.com/images/2023/09/12/34fd2985ab66dc0e9a77e6afaa2c09ba.webp 768w, https://cdn.thebittimes.com/images/2023/09/12/34fd2985ab66dc0e9a77e6afaa2c09ba.webp 1536w, https://cdn.thebittimes.com/images/2023/09/12/34fd2985ab66dc0e9a77e6afaa2c09ba.webp 2048w, https://cdn.thebittimes.com/images/2023/09/12/34fd2985ab66dc0e9a77e6afaa2c09ba.webp 380w, https://cdn.thebittimes.com/images/2023/09/12/34fd2985ab66dc0e9a77e6afaa2c09ba.webp 550w, https://cdn.thebittimes.com/images/2023/09/12/34fd2985ab66dc0e9a77e6afaa2c09ba.webp 800w, https://cdn.thebittimes.com/images/2023/09/12/34fd2985ab66dc0e9a77e6afaa2c09ba.webp 1160w, https://cdn.thebittimes.com/images/2023/09/12/34fd2985ab66dc0e9a77e6afaa2c09ba.webp 2290w" sizes="(max-width: 1024px) 100vw, 1024px"> 
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    Shiba Inu Global In/Out of the Money | Source: IntoTheBlock 
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 <p>However, if bears step into the driving seat, then, traders need to watch out for defenses around $0.00000701 and $0.0000656. </p> 
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<div class="cs-entry__tags"> 
 <ul> 
  <li>shib</li> 
  <li>shiba inu</li> 
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/shiba-inu-mid-september-2023-price-prediction-for-shib-tbt62324.html">https://thebittimes.com/shiba-inu-mid-september-2023-price-prediction-for-shib-tbt62324.html</a></p>

Shiba Inu: Mid-September 2023 Price Prediction for SHIB

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