SHIB price: Increase or decrease in the next 30 days?

The cryptocurrency market is still very volatile, and Shiba Inu (SHIB) is no exception. To help predict SHIB's price volatility in the next 30 days, this analysis will delve into the technical indicators and patterns observed in the TradingView chart provided. We will analyze key factors such as Bollinger Bands, Relative Strength Index (RSI), support and resistance levels, and potential scenarios. How has the price of Shiba Inu dog changed recently? The current price of Shiba Inu (SHIB) is $0.00002190, with a 24-hour trading volume of $639.68 million, a market capitalization of $12.90 billion, and a market dominance of 0.38%. In the last 24 hours, the price of SHIB has increased by 1.69%. The highest all-time high of Shiba Inu was $0.00008819 on October 28, 2021, while the lowest all-time low was $0.0000000005637 on November 28, 2020. The lowest price since its ATH is $0.00005821 (cycle low) and the highest price since this low is $0.00004501 (cycle high). The price sentiment for Shiba Inu is currently pessimistic, with a Fear & Greed Index of 62 (Greed). The circulating supply of Shiba Inu is about 589.26 trillion SHIB, out of a total maximum supply of 589.74 trillion SHIB. The annual inflation rate of the supply is currently -0.01%, indicating that 35.36 billion SHIB have been removed from circulation in the past year. SHIB price analysis

Analysis 1-hour chart Bollinger Bands: Bollinger Bands measure volatility by displaying the price movement within two standard deviations from the moving average. On the 1-hour chart, SHIB is trading near the middle band. This indicates a decrease in volatility and no clear directional trend. Historically, such behavior often leads to a breakout, either upward or downward. Traders should observe whether the price moves near the upper band or lower band, as this could provide initial signs of a potential trend. Relative Strength Index (RSI): RSI, a momentum oscillator measuring overbought or oversold conditions, is oscillating around 50.46. RSI near 50 signals a neutral market with no significant momentum. If RSI rises above 60, it may indicate increasing momentum, while dropping below 40 can confirm a bearish sentiment. Short-term candle pattern: Recent candles show smaller candle body sizes, signaling market indecision. Combined with low trading volume, this indicates traders are waiting for a catalyst to drive the next significant move. Analysis of 1-day chart

Bollinger Band: On the daily chart, SHIB is trading near the lower band, indicating an oversold condition. When the price consistently fluctuates near the lower band, this often signals a potential recovery. However, trading consistently at this level without a recovery could lead to further decline. Relative Strength Index (RSI): The daily RSI is at 43.31, reflecting a slight bearish sentiment. Although it is not yet in oversold territory (<30), this indicator still suggests downward pressure and any further decline in RSI could trigger a stronger bearish trend. Heikin-Ashi Candles: These candles help determine trends by smoothing price data. Recent Heikin-Ashi candles have shown a decreasing bearish momentum, which may imply that the bearish side is gradually losing strength. Key support and resistance levels Understanding support and resistance levels is very important for predicting price fluctuations: Support level: 0.00002100: This is an important level that often attracts buyers, helping to prevent further price decline. $0.00002000: Psychological support level, where traders often place buy orders, acting as the final line of defense before a sharp price decline. Resistance level: $0,00002250: This is an immediate resistance level. Surpassing this level will indicate the momentum for price increase and open the way for higher levels. $0,00002500: A significant resistance level that SHIB must overcome to sustain the upward trend and enter the price increase zone. Summary of technical indicators RSI: The RSI is neutral on the 1-hour chart but trending lower on the daily chart, indicating conflicting short-term and medium-term sentiment. Bollinger Bands: The price level near the middle band (1-hour chart) and the lower band (daily chart) reflects the potential for consolidation or a downward price trend. Volume: Low trading volume on both charts indicates a lack of strong confidence from traders, which could slow down a breakout in either direction. Potential scenarios in the next 30 days Price increase scenario If SHIB can break through the resistance level of $0.00002250 with large trading volume, it may rise to $0.00002500 or even higher. Some factors that may drive this price momentum: Market-wide price increases: Sudden spikes in the cryptocurrency market generally benefit meme coins like SHIB. Positive developments in the ecosystem: Announcements related to the Shiba Inu ecosystem, such as the adoption of Shibarium or utility improvements, may attract buyers. The retail investor's interest: New interest from retail investors, especially in meme cryptocurrencies, may drive demand. Discount scenario If SHIB cannot hold the support level of $0.00002100, it may decline further, possibly testing $0.00002000 or even lower. Key factors contributing to the bearish outlook include: The common weakness of the market: A market-wide correction could pull SHIB down. Investors are less interested: The cooling enthusiasm for meme cryptocurrencies in the uncertain macroeconomic context can lead to price declines. Technical analysis: Prolonged low RSI and failure to recover from key support levels will signal further price decline. Unified scenario With neutral RSI and low volume, SHIB may trade sideways between $0.00002100 and $0.00002250. Volatility within this range often occurs as traders await clear signals or external catalysts. Consolidation can lead to a prolonged breakout or stagnation, depending on market dynamics. Conclusion The price movement of SHIB in the next 30 days will depend heavily on market sentiment, volume, and key technical levels. While current indicators suggest a neutral to slightly bearish trend, the situation could change rapidly depending on external catalysts. Traders should closely monitor the support level of $0.00002100 and the resistance level of $0.00002250 for initial signs of the next major move. Additionally, increasing volume and RSI above 60 will strengthen the case for a price breakout, while breaking below the 40 RSI support level or $0.00002100 will confirm a downward trend. DYOR! #Write2Earn #Write&Earn $SHIB {spot}(SHIBUSDT)