The Shiba Inu price today is trading near $0.00001354, down around 1.3% in the past 24 hours after facing rejection at the $0.00001400 resistance zone. This level aligns with a major supply block seen on the daily Smart Money Concepts chart, where previous rallies have been halted. Despite the pullback, SHIB remains above its recent swing low, but momentum indicators suggest a possible test of nearby support levels. What’s Happening With Shiba Inu’s Price? SHIBUSD price dynamics (Source: TradingView) On the daily chart, SHIB continues to trade inside a long-term descending triangle, with horizontal support around $0.00001180 and a downtrend line from the 2024 highs acting as resistance. The latest bounce from the $0.00001270 demand zone pushed price toward the upper supply band but failed to break through, triggering selling pressure. SHIBUSD price dynamics (Source: TradingView) The weekly structure shows SHIB respecting the major base around $0.00001180 while being capped by the descending trendline. A breakout above $0.00001600 would be required to confirm a larger bullish reversal, but for now, the range remains intact. Why is the Shiba Inu Price Goi… The post Shiba Inu (SHIB) Price Prediction for August 11 appeared first on Coin Edition .
