SHIB Price Prediction for May 31
Emily HarrisHow far can decline of SHIB continue?[...]
Crypto Market Sees Dip, Shiba Inu (SHIB) Faces Resistance
The cryptocurrency market has turned bearish again, based on recent data from CoinStats. Shiba Inu (SHIB), the popular meme coin, has dropped 5.21% in the past 24 hours.
On the hourly chart, SHIB shows signs of recovery after a failed breakout at the $0.00001235 resistance level. If bullish momentum continues, the price could retest this resistance by tomorrow.
From a broader perspective, SHIB also failed to hold support at $0.00001230. A significant close below this level might trigger a local rally toward $0.000013.
Medium-term analysis suggests sellers currently dominate the market. If the weekly candle closes below $0.000012, we could see a test of lower support levels soon.
As of now, Shiba Inu is trading at $0.00001265.
