Shiba Inu Price Analysis — November 15

Despite the recent listing by Gemini and the proposed one by Kraken, SHIB continues to trade flatly around the $0.0000525 area. This comes amid a sustained flow along my three-week-long descending trendline, bolstered by our hourly 200 SMA. However, our hourly 50 SMA continues to prop up the meme coin from bearish pressure. That said, SHIB needs to secure a clean break above the $0.0000535 - $0.0000550 resistance area to regain any semblance of upwards momentum. The eleventh-largest cryptocurrency needs to post an upward move soon or risk restriction along the descending trendline towards the $0.0000500 and lower in the coming hours and days.

Meanwhile, my resistance levels are $0.00005500, $0.00006000, and $0.00006500, and my support levels are $0.00005000, $0.00004500, and $0.00004200.

Total Market Capitalization: $2.87 trillion

Shiba Inu Market Capitalization: $29.6 billion

Shiba Inu Dominance:1%

Market Rank: #11