• About
  • Contact
  • Privacy Policy
  • Terms and Conditions
Tuesday, July 1, 2025
The VR Soldier
  • Featured
  • News
  • Education
  • NEAR Protocol
  • Solana
  • Fantom
  • Yield Farming
  • Reviews
  • Press Releases
No Result
View All Result
  • Featured
  • News
  • Education
  • NEAR Protocol
  • Solana
  • Fantom
  • Yield Farming
  • Reviews
  • Press Releases
No Result
View All Result
The VR Soldier
No Result
View All Result

Shiba Inu Price Analysis & Prediction (June 7th) – Shiba Drops to Six-Month Low Following a Sharp Decline, Loses 8%

Michael Fasogbon by Michael Fasogbon
June 7, 2023
in News
Reading Time: 3 mins read
0
shiba inu shib price analysis prediction

Shiba Inu (SHIB)

Share on TwitterShare on Facebook

Shiba Inu (SHIB) decreased by 7% today after losing a crucial support level in the past weeks. It remains in a downward spiral but encountered an important support level. Selling pressure paused as it negotiates for the next direction.

Shiba has made another major shift in price today after trading above the $0.00000083 level for three weeks. The bears cracked that level a few hours ago and pulled the price to a daily low of $0.00000077. 

It is currently testing a year demand zone, and at the same time marked a six-month low at that low level. The $0.0000079 level, marked as last December’s low, is now suppressing bearish pressure. A solid hold at this level could trigger a small increase before resuming the drop.

The descending resistance line forming on the daily remains a crucial breakpoint for an increase. A successful increase above that resistance line should confirm a buy towards the $0.00001 level before dropping. That could also bring a reversal in the existing trend.

Should Shib slip further in the next few days, it is likely to navigate June 2022 low as support. Breaking it could lead to a massive drop, capable of crashing the price to $0.000004 within a blink of an eye.

So far, Shiba has seen over 26% loss on a yearly scale. More negative actions could come into play if the price continues to drop. It remains the second-largest meme coin with a market cap of $4.7 billion at press time.

SHIB’s Key Levels To Watch

shiba inu price analysis prediction
Source: Tradingview

As there’s nothing much for the bulls following the latest bearish dominance, the immediate resistance level to watch for a retest lies at $0.0000083. The resistance to watch above the trendline is $0.00000918 and $0.00000979.

While testing the $0.0000079 support level, a dip below it could send the price to $0.00000714. There’s a key level at $0.000007 in case of a breakdown.

Key Resistance Levels: $0.0000083, $0.00000918, $0.00000979

Key Support Levels: $0.0000079, $0.00000714, $0.000007

  • Spot Price: $0.00000798
  • Trend: Bearish
  • Volatility: High

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any projects.

Image Source: zieproject/123RF // Image Effects by Colorcinch

Previous Post

Pepe Price Analysis & Prediction (June 6th) – PEPE Breaks Lower Amid Latest Dip, Targets April’s Low

Next Post

Bitcoin vs. Gold: Considering the Attraction of Traditional and Digital Gold

Related Posts

Solana ETF With Built-In Staking Is About to Go Live , Here’s What It Means
News

Solana ETF With Built-In Staking Is About to Go Live, Here’s What It Means

June 30, 2025
Solana Hits $145 Again But Could This Time Be Different
News

Solana Hits $145 Again But Could This Time Be Different?

June 29, 2025
Featured

Binance Stands by XRP as Others Pull Back

June 29, 2025
Featured

XRP Jumps as Ripple Wins Legal Fight

June 28, 2025
Trump to Save Crypto: New Order May End Banking Discrimination
News

Trump to Save Crypto: New Order May End Banking Discrimination

June 25, 2025
Why Ethereum 6-Second Block Time Might Change Everything
News

Why Ethereum 6-Second Block Time Might Change Everything

June 24, 2025

Press Releases

Jupiter Token Crash: Why JUP Lost 80% and What Happens Next
News

Jupiter Token Crash: Why JUP Lost 80% and What Happens Next

by Alex Mercer
June 24, 2025

Introduction If you blinked, you might’ve missed Jupiter’s brief moment in the spotlight. The DAO behind the once-buzzy token has...

Read more
Bitcoin Price Survives Israel-Iran Tensions, Hack, and $200B Meltdown

Bitcoin Price Survives Israel-Iran Tensions, Hack, and $200B Meltdown

June 19, 2025
What you will get:  Simple steps to start trading cryptocurrencies like Bitcoin and Ethereum How to choose a reliable crypto exchange with low fees and strong security Key tips to read crypto price charts and manage trading risks How to stay updated with market-moving news and practice safely before investing Introduction Cryptocurrency trading has exploded in popularity as an easy way to earn online. With simple guidance you can start trading Bitcoin Ethereum and other altcoins using your phone or computer. This guide gives clear steps for beginners. What Is Crypto Trading and How Does It Work Crypto trading is buying and selling digital currencies like Bitcoin Ethereum Cardano or Solana to make a profit. You buy when prices are low and sell when they go higher. There are two main trading types: Spot trading: You own actual coins. Derivatives trading: You trade based on price movements without owning coins. Spot trading is perfect for beginners because it’s more straightforward and less risky. Step 1 Choose a Reliable Crypto Exchange Select a trusted crypto exchange. Popular beginner-friendly options: Binance: Low fees and many altcoins Coinbase: Easy for beginners with strong security Kraken: Great support and euro compatibility Bybit: Simple interface with spot and futures Look for: Easy sign up and verification Strong security (2FA, cold storage) Low trading fees and fast euro or fiat deposits Wide selection of coins and high volume Step 2 Learn Crypto Chart Reading Reading price charts will improve your crypto trading success. Key concepts: Trend lines: Overall up or down movements Support levels: Prices where value tends to bounce up Resistance levels: Prices where value tends to slow or reverse Start with basic charts like candlestick charts. Many platforms like Binance and Kraken offer built-in guides. Step 3 Manage Risk and Use Stop Losses Crypto prices are very volatile and can change fast. Protect your investment by: Investing only what you can afford to lose Using stop-loss orders to sell automatically at a set lower price Not risking more than 1–2% of your portfolio on any trade This risk management helps you stay in the game long term. Step 4 Stay Updated with Real-Time Crypto News Crypto markets respond instantly to news. Use reliable sources like Vr Soldier, CoinDesk, CoinTelegraph and The Block. Track: Bitcoin ETF decisions New coin listings on exchanges Regulatory changes Major partnerships and developments Following crypto news helps you predict good entry and exit points. Step 5 Use Demo Accounts to Practice Many exchanges like Binance and Bybit offer demo accounts or testnets. Practice trading with virtual money first. This helps you learn: How orders work Chart reading in real time Trading fees and order types Once you feel confident, move to small real trades. Final Simple Tips for New Crypto Traders Start with well-known coins like Bitcoin Ethereum Avoid chasing hype or FOMO (Fear Of Missing Out) Keep a basic trading journal or spreadsheet Learn from both wins and losses Crypto Trading Basics for Long Term Profit

Crypto Trading Basics for Long Term Profit

June 16, 2025
$3 Billion in Bitcoin Options Expire Today — Will BTC Crash or Bounce?

$3 Billion in Bitcoin Options Expire Today — Will BTC Crash or Bounce?

June 14, 2025
Trump vs Elon Musk: Bitcoin Dips as Tesla Crashes

Trump vs Elon Musk: Bitcoin Dips as Tesla Crashes

June 6, 2025
The VR Soldier

© 2024 The VR Soldier

Navigate Site

  • About
  • Contact
  • Privacy Policy
  • Terms and Conditions

Follow Us

No Result
View All Result
  • Featured
  • News
  • Education
  • NEAR Protocol
  • Solana
  • Fantom
  • Yield Farming
  • Reviews
  • Press Releases

© 2024 The VR Soldier