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SHIB price is trading at $0.00001240 and is showing short-term bullish momentum while longer-term bias remains neutral; a breakout above $0.00001250–$0.00001270 could push gains, while a drop below $0.000012 would risk a test of $0.00001160.
SHIB price up 1.4% in 24 hours, trading at $0.00001240
Short-term chart shows bullish bias; mid-term structure favors support near $0.00001160
Low trading volume signals limited likelihood of sharp moves next week (source: CoinStats, TradingView)
SHIB price update: SHIB trades at $0.00001240; watch $0.00001250 resistance and $0.00001160 support — read the latest analysis from COINOTAG.
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Neither bulls nor bears are controlling the situation on the market on the first day of the weekend, according to CoinStats. Market participants show caution as volume remains subdued.
SHIB chart by CoinStats
What is the current SHIB price and short-term outlook?
SHIB price is trading at $0.00001240 and registered a 1.4% gain over the last 24 hours. The hourly chart displays bullish signals, but the midterm structure remains closer to support than resistance.
How is the SHIB/USD chart shaping the short-term trend?
The hourly chart shows momentum building toward the $0.00001250–$0.00001270 resistance zone. If buyers push price above that range, momentum could carry SHIB higher in a short squeeze.
Conversely, if the interim area of $0.000012 is lost, a correction toward $0.00001160 is the most likely scenario. Trading volume is currently low, reducing the chance of a large directional move this week.
Image by TradingView
Why does volume matter for SHIB price action?
Volume confirms conviction. Low volume means fewer participants support sustained breakouts or breakdowns. With current low volumes, false breakouts are more likely than decisive trends.
Market data referenced from CoinStats and TradingView indicate subdued activity ahead of the new trading week.
Image by TradingView
Frequently Asked Questions
What support levels should traders watch for SHIB?
Traders should watch interim support at $0.000012 and primary support at $0.00001160. Loss of these areas could trigger deeper short-term corrections toward the next structural support.
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How can traders confirm a valid SHIB breakout?
Confirm a breakout with a close above $0.00001270 on higher-than-average volume. Ideally, wait for a retest of the breakout level and renewed buying pressure.
Image by TradingView
Key Takeaways
Price update: SHIB trades at $0.00001240, up 1.4% in 24h.
Levels to watch: Resistance $0.00001250–$0.00001270; support $0.000012 and $0.00001160.
Volume risk: Low volume reduces odds of a large, sustained move next week; confirm breakouts with volume.
Conclusion
SHIB shows short-term bullish signs but remains mid-term neutral as volume stays low. Watch $0.00001250–$0.00001270 for a bullish confirmation and $0.00001160 for downside risk. COINOTAG will continue to monitor on-chain indicators and exchange data to inform updates.
