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 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
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The situation has not changed since yesterday as <a href="https://u.today/doge-price-analysis-for-november-4" rel="noopener noreferrer nofollow">buyers</a> are still holding the initiative on the market. <img data-entity-type="file" data-entity-uuid="ef48513b-4327-45f9-83a8-5b1130bf5c48" src="https://u.today/sites/default/files/inline-images/top10_756.png">Top coins by <a href="https://coinmarketcap.com/" rel="noopener noreferrer nofollow">CoinMarketCap</a>
<h2 class="text-align-justify" id="shib-usd">SHIB/USD</h2>
The rate of SHIB has increased by 3.55% over the past day. <img data-entity-type="file" data-entity-uuid="0d4ab3b6-9085-4e18-b6a1-eaefefacd47f" src="https://u.today/sites/default/files/inline-images/shib1_42.png">Image by&nbsp;<a href="https://www.tradingview.com/symbols/SHIBUSD" rel="noopener noreferrer nofollow">TradingView</a>
On the hourly chart, the price of SHIB might have set a local peak at $0.00000832. If the decline continues and the daily bar closes far from that mark, the correction may lead to a test of the support level at $0.00000789 soon. <img data-entity-type="file" data-entity-uuid="e30464e9-21c3-468b-a3f2-48b65ea2a13d" src="https://u.today/sites/default/files/inline-images/shib2_42.png">Image by&nbsp;<a href="https://www.tradingview.com/symbols/SHIBUSD" rel="noopener noreferrer nofollow">TradingView</a>
On the bigger time frame, traders should pay attention to the resistance level formed by the false breakout.
If the candle closes with a long wick, bears might locally seize the initiative, which could lead to a drop to the $0.0000080 zone next week. <img data-entity-type="file" data-entity-uuid="4db45ed0-fa1a-4cff-a3e7-f22d399565cf" src="https://u.today/sites/default/files/inline-images/shib3_46.png">Image by&nbsp;<a href="https://www.tradingview.com/symbols/SHIBUSD" rel="noopener noreferrer nofollow">TradingView</a>
A slightly different picture is on the weekly chart. If the bar closes above the previous candle peak, traders are likely to see a further upward move to the next resistance level at $0.00000854.
SHIB is trading at $0.00000817 at press time.

SHIB Price Analysis for November 5

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