Shiba Inu Price Analysis — November 26

SHIB continues to stumble downwards along my multi-week-long descending trendline as the broader market suffers from a renewed FUD amid risk-off market mood. SHIB recently recorded a bullish breakout away from the trendline and near the $0.0000500 resistance yesterday. However, with the renewed sell-off, one can deduce that the spike was only a bull trap as millions of dollars worth of long positions got liquidated. That said, we could see a bearish continuation over the days, except SHIB records a sustained breakout above the $0.0000500.

Meanwhile, my resistance levels are $0.0000400, $0.0000420, and $0.0000440, and my support levels are $0.0000350, $0.0000320, and $0.0000300.

Total Market Capitalization: $2.43 trillion

Shiba Inu Market Capitalization: $20.8 billion

Shiba Inu Dominance: 0.85%

Market Rank: #12