$SHIB
SHIB
0.0₅858
+4.89%
Shiba Inu hovers above the 50-day EMA at $0.00000834, stabilizing after the seven-day decline. At the time of writing, SHIB recovers slightly on Tuesday, after nearly retesting the breakout of a falling channel pattern.
If SHIB bounces back from this moving average, it could target the October 11 low at $0.0000956.
Similar to Dogecoin, Shiba Inu risks a bearish shift in trend momentum. The RSI is at 53 on the daily chart, approaching the halfway line from the overbought boundary, which suggests waning buying pressure. Additionally, the decline in MACD risks crossing below the signal line, which would trigger a sell indication.
However, a sustained decline below the 50-day EMA at $0.00000834 could approach the October 10 low at $0.00000678.