The local rise has not lasted long, according to CoinStats.

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Unlike other coins, the rate of SHIB has increased by 0.29%.

Image by TradingView

On the local time frame, one should pay attention to the support level of $0.00000733. If the daily candle closes far from it, buyers have chances to restore the rate to the resistance of $0.00000746 tomorrow.

Image by TradingView

On the daily chart, the rate of SHIB has made a false breakout of yesterday’s peak, having confirmed that buyers have not seized the initiative yet. In addition, the volume has declined, which means that SHIB is not ready for sharp moves.

In this case, sideways trading in the narrow range of $0.00000720-$0.00000740 is the more likely scenario until the end of the week.

Image by TradingView

On the bigger time frame, the rate of SHIB has made a false breakout of the support level of $0.00000698, which means that the local bottom has been formed. If the weekly bar closes near the interim mark of $0.00000750, the upward move may continue to the zone of $0.000008 soon.

SHIB is trading at $0.00000734 at press time.

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