Shiba

Cryptocurrency

Kusama

Shiba Inu

<div class="finbold">
 <p class="paragraph">Although Shiba Inu (SHIB) has not had a very successful week, much like many other cryptocurrencies, recent technical analysis (TA) indicators are suggesting that its luck may change after all, provided that the famous dog-themed meme crypto asset manages to meet one crucial condition.</p>
 <div></div>
 <p class="paragraph">Specifically, Shiba Inu has been “trading inside a descending parallel channel and testing a crucial resistance at the upper boundary of this pattern, around $0.000011, as crypto market analyst Ali Martinez observed in his chart analysis shared in an X post on December 14.</p>
 <p class="paragraph">According to the crypto trading expert, “a decisive <a rel="noopener noreferrer nofollow" title="weekly" href="https://thebittimes.com/tag/weekly.html">weekly</a> <a rel="noopener noreferrer nofollow" title="close" href="https://thebittimes.com/tag/close.html">close</a> above this <a rel="noopener noreferrer nofollow" title="level" href="https://thebittimes.com/tag/level.html">level</a> could signal a <a rel="noopener noreferrer nofollow" title="bullish" href="https://thebittimes.com/tag/bullish.html">bullish</a> <a rel="noopener noreferrer nofollow" title="breakout" href="https://thebittimes.com/tag/breakout.html">breakout</a>, propelling SHIB towards $0.000014.” On the other hand, facing a rejection here could trigger “a pullback to $0.000008 before the <a rel="noopener noreferrer nofollow" title="bullish" href="https://thebittimes.com/tag/bullish.html">bullish</a> <a rel="noopener noreferrer nofollow" title="breakout" href="https://thebittimes.com/tag/breakout.html">breakout</a>,” as the chart patterns suggest.</p>
 <figure class="wp-block-image aligncenter is-resized"><img decoding="async" loading="lazy" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/osJufWEocfrdoBw5ZDHZ-YKUHWEO8DDGDcqeSL_BWYmZXFtHJueSYMd5c3xcSDR9LzzxEO9Fs7ko23OVO4Uow98LZC13GGTdhBgVsI2HJDXXEYVvUzbHSo0QIfWIkfiKCacNy6rDPQe4FYX1QEWnqlI" alt width="834" height="566">
  <figcaption class="wp-element-caption"><em>SHIB price action analysis. Source: </em><em>Ali Martinez</em>
  </figcaption>
 </figure>
 <h2 class="wp-block-heading" id="h-shib-price-analysis">SHIB price analysis</h2>
 <p class="paragraph">At the moment, Shiba Inu is changing hands at the price of $0.000009741, which represents a decline of 1.05% in the last 24 hours, as well as a 3.34% drop across the previous seven days but still a 13.44% advance accumulated on its monthly chart, according to the recent data retrieved on December 15.</p>
 <figure class="wp-block-image aligncenter"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/a21RZy6q0DHBdGoILx8AubSRx73Fj8OgLMvr3EuAzKY7MMWkkrWqjwb2xyaDsRaQsCYs-ErkLB5DawDcsVfEdR22bOFM54EUawMeM0inyqsCVTo4XWT_xA5hOvlK1Yo917mVgSiIVzMn78gArujFux8" alt>
  <figcaption class="wp-element-caption"><em>SHIB 7-day price chart. Source: </em><em>Finbold</em>
  </figcaption>
 </figure>
 <div class="not-prose relative overflow-auto scrollbar-hide mb-8 mt-8">
  <div class="relative w-full flex gap-6 snap-x snap-mandatory overflow-x-auto">
   <div class="max-w-[300px]">
    <div class="py-0 first:pt-0 last:pb-0">
     <div class="flex gap-x-4">
      <div class="shrink-0  w-24"><img data-src="https://cdn.thebittimes.com/images/2023/12/15/ac37cc581d6dc15119f3d4532e088415.webp" alt class=" w-full rounded-md lazy">
      </div>
      <div>
       Stocks 
       <h3 class="font-bold leading-6 " id="chatgpt-predicts-rivian-stock-price-at-the-start-of-2024">ChatGPT predicts Rivian stock price at the start of 2024</h3>
       <div class="sm:flex gap-x-3 mt-2">
       </div>
      </div>
     </div>
    </div>
   </div>
   <div class="max-w-[300px]">
    <div class="py-0 first:pt-0 last:pb-0">
     <div class="flex gap-x-4">
      <div class="shrink-0  w-24"><img data-src="https://cdn.thebittimes.com/images/2023/12/15/617d480337ec27ab2aaa5970305ac251.webp" alt class=" w-full rounded-md lazy">
      </div>
      <div>
       Stocks 
       <h3 class="font-bold leading-6 " id="wall-street-sets-intel-stock-price-for-the-next-12-months">Wall Street sets Intel stock price for the next 12 months</h3>
       <div class="sm:flex gap-x-3 mt-2">
       </div>
      </div>
     </div>
    </div>
   </div>
   <div class="max-w-[300px]">
    <div class="py-0 first:pt-0 last:pb-0">
     <div class="flex gap-x-4">
      <div class="shrink-0  w-24"><img data-src="https://cdn.thebittimes.com/images/2023/12/15/ef4f38c3b9522fa27cb61da33e6da37f.webp" alt class=" w-full rounded-md lazy">
      </div>
      <div>
       Stocks 
       <h3 class="font-bold leading-6 " id="wall-street-sets-google-stock-price-for-the-next-12-months">Wall Street sets Google stock price for the next 12 months</h3>
       <div class="sm:flex gap-x-3 mt-2">
       </div>
      </div>
     </div>
    </div>
   </div>
   <div class="max-w-[300px]">
    <div class="py-0 first:pt-0 last:pb-0">
     <div class="flex gap-x-4">
      <div class="shrink-0  w-24"><img data-src="https://cdn.thebittimes.com/images/2023/12/15/c7dc5105a40b607d7e3ebd12576b709b.webp" alt class=" w-full rounded-md lazy">
      </div>
      <div>
       Cryptocurrency 
       <h3 class="font-bold leading-6 " id="investors-alert-shib-s-falling-exchange-supply-may-fuel-price-surge">Investors Alert: SHIB's falling exchange supply may fuel price surge</h3>
       <div class="sm:flex gap-x-3 mt-2">
       </div>
      </div>
     </div>
    </div>
   </div>
   <div class="max-w-[300px]">
    <div class="py-0 first:pt-0 last:pb-0">
     <div class="flex gap-x-4">
      <div class="shrink-0  w-24"><img data-src="https://cdn.thebittimes.com/images/2023/12/15/d8a9f28b78fd8ec21cc02a2bee5415c8.webp" alt class=" w-full rounded-md lazy">
      </div>
      <div>
       Cryptocurrency 
       <h3 class="font-bold leading-6 " id="this-ethereum-s-rival-has-skyrocketed-100-in-a-month-here-s-how">This Ethereum’s rival has skyrocketed 100% in a month; Here’s how</h3>
       <div class="sm:flex gap-x-3 mt-2">
       </div>
      </div>
     </div>
    </div>
   </div>
  </div>
 </div>
 <div class="mb-4 bg-slate-50 rounded-md layout-adjustment">
  <div id="finbold.com_middle" style="min-width: 300px; min-height: 250px;">
  </div>
 </div>
 <p class="paragraph">Considering its latest movements on the price chart, it seems that this digital asset is leaning slightly toward Martinez’s second option, as it has failed to successfully retest the $0.000011 level. However, it still has enough room until it drops to the $0.000008 level he believes would precede a rally in that case.</p>
 <p class="paragraph">Furthermore, it may also feel the positive effect of the SHIB crowd’s excitement triggered by Shiba Inu’s lead developer <em>Shytoshi Kusama</em> making an announcement regarding an upcoming “year-ending surprise,” which he promised to reveal by next week, according to the screenshot of the messages shared by X user <em>LUCIE | Shib.io</em> on December 14.</p>
 <figure class="wp-block-embed aligncenter is-type-rich is-provider-twitter wp-block-embed-twitter">
  <div class="wp-block-embed__wrapper">
   <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
    <p lang="en" dir="ltr">Okay @ShytoshiKusama <br><br>Let’s break the internet… now finally … pic.twitter.com/Sew3RMUpR1</p>— | Shib.io (@LucieSHIB) December 14, 2023
   </blockquote>
  </div>
 </figure>
 <p class="paragraph">Additionally, the SHIB supply on crypto exchanges has recently made a significant drop, amounting to 7.58% as of December 12, which could indicate a shift towards self-custody that experts generally consider a positive development as it removes immediate selling pressure, as Finbold reported on December 13.</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
 <p class="paragraph"></p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/shib-weekly-close-above-this-level-could-catapult-bullish-breakout-tbt73823.html">https://thebittimes.com/shib-weekly-close-above-this-level-could-catapult-bullish-breakout-tbt73823.html</a></p>

SHIB weekly close above this level could catapult bullish breakout

Table of Contents

TheBitTimes

Other articles published on Dec 15, 2023

Ripple Whale Dumps 42M XRP: Will Price Dip Below $60?

Bitcoin Exchange Binance Announced It Will List This Popular Mem Token! Price Increased 100 Percent!

Bonk rockets over 100% in a day; Can the meme coin hit $1?

SafeMoon files for bankruptcy amid fraud charges, executives arrested

Bonk skyrockets 120% after Binance listing, nearing $2 billion market cap

Crypto: Major Hack on Ledger – Don’t Be the Next Victim!

Join our free newsletter for daily crypto updates!