Shiba Inu price appears to have been waiting for a good opportunity to surge high it jumped with every positive ongoing in the market. Let it be El Salvador’s Bitcoin adoption or a mention from the Tesla CEO Elon Musk. After a steep fall from the highs above $0.00004, the price managed the trembled situation in a short time frame.
Despite a series of uptrends, the price is experiencing a fresh slump since the early trading hours. Yet sustaining well above $0.00000800, and attempting well to regain the positions above $0.00000900. However, another 10% spike is required to reach these levels, which could happen in a matter of time.
Currently, as mentioned in the above chart, the SHIB price is trending within the resistance and support levels at $0.00000874 and $0.000000789 resp. If the price continues with the downtrend, eventually, the support levels will be the next destination. Or else, if the price successfully marches towards the resistance levels, they may be flipped into support levels.
Despite the uptrend, yet the SHIB price may experience a slight pullback towards the newly formed support levels then, at $0.00000874. And with a strong rebound, the price may head towards the target above $0.00001. However, the Shiba Inu price needs to test a couple of resistance levels, which appears to be mandatory.