Shiba Inu Price Analysis — November 10

SHIB continues to suffer intense bearish resistance since its recent peak, as the price falls below the critical $0.00005500 line. That said, the eleventh-largest cryptocurrency appears to be trading along my descending trendline towards the $0.00004312 previous low amid neutral trading conditions. To regain a bullish momentum, SHIB needs to break above the $0.00006000 area, bolstered by the 50 SMA, in the coming days. Failure to do so could cement a bearish continuation to the previously mentioned low.

Meanwhile, my resistance levels are $0.00005500, $0.00006000, and $0.00006500, and my support levels are $0.00005000, $0.00004500, and $0.00004200.

Total Market Capitalization: $2.94 trillion

Shiba Inu Market Capitalization: $28.9 billion

Shiba Inu Dominance:0.98%

Market Rank: #11