The price of the Shiba Inu (SHIB) could be set for a major run as it holds its support against Tether (USDT). Bitcoin’s (BTC) price saw a bounce from $23,000 to $24,800 as the favorable news from the consumer price Index (CPI) saw a good response across the boards in the crypto market as the price of Shiba Inu eyes $0.00001700. Related Reading: AVAX Holds Steady And Sets Sights On $50 Barrier Breach The consumer price Index measures inflation in the economy, due to market sentiments this affects the prices of assets. (Data feeds from Binance) Price Analysis Of SHIB On The Weekly Chart From the chart, the price of SHIB saw a weekly low of around $0.00000740, which bounced from that area and rallied to a price of $0.00001240. The price has built more momentum as it faces resistance at $0.00001400. If the price of SHIB on the weekly chart continues with this bullish structure, it could quickly revisit $0.00001732. Weekly resistance for the price of SHIB – $0.00001400. Weekly support for the price of SHIB – $0.00000995. Price Analysis Of SHIB On The Daily (1D) Chart The price of SHIB found strong support at around $0.00001, with what seems to be an area of interest on the daily chart. SHIB bounced from its support and rallied as it faced resistance to breaking above the 50 Exponential Moving Average (EMA) which corresponds to $0.00001154. At the point of writing, the price of SHIB is at $0.00001265, trying...
