SHIB Price Analysis for December 23 - U.Today

The market is almost red today, according to CoinMarketCap.

Top coins by CoinMarketCap## SHIB/USD

The rate of SHIB has declined by 2.72% over the last 24 hours.

Image by TradingViewOn the hourly chart, the price of SHIB keeps looking bearish on the hourly chart. If a breakout of the $0.00000711 level happens, the decline is likely to continue to the $0.0000070 area soon.

Image by TradingViewOn the longer time frame, there are also no reversal signals yet. If the daily bar closes near the $0.0000070 level, the accumulated energy might be enough for a more profound decline to the next support at $0.00000678.

Image by TradingViewA similar picture can be seen on the weekly chart

If bulls cannot seize the initiative, traders may expect a support breakout, followed by an ongoing drop to the $0.0000060 range.

SHIB is trading at $0.00000712 at press time.