SHIB Price Analysis: Second Test of $0.000012 Support Shows Buyers Keen to Return

This is the second time SHIB tested the $0.000012 support. So far, buyers look keen to return at these levels and the price turned positive today.

.000012 Support Shows Buyers Keen to Return" >

Shiba Inu (SHIB) price rallied on Monday, continuing last week’s recovery. The meme coin started the day at $0.00001191, up 0.00000088 from last Monday’s opening price of $0.00001103.

After a weekend of consolidation, SHIB price began Monday morning in the red. However, buyers quickly stepped in to support the meme coin, pushing the price up by 7% within the first hour of trading.

SHIB price then continued to rise throughout the day, reaching a high of $0.00001223 by early afternoon. The meme coin faced some resistance at this level, but buyers were eventually able to break through, pushing SHIB price up to a new high of $0.00001241.

At the time of writing, SHIB price is trading at $0.00001227, up by 0.00000124 from last Monday’s opening price. The meme coin is now ranked 14th by market capitalization, with a total market cap of $6.9 billion.

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