The Shiba Inu (SHIB) price has experienced a decline this week, according to CoinStats’ analysis. On the hourly chart, SHIB is still showing bearish trends despite the overall market reversal. Experts predict that if the support level at $0.00001251 breaks, the SHIB price might drop further to the $0.000012 area. However, on the longer time frame, the coin’s price trend is downwards following yesterday’s bearish close. If the current price closes below its level today, a test of the $0.00001173 support level in the next few days might occur. While it’s too early to predict SHIB’s performance on a long-term basis, traders should pay attention to the upcoming weekly close. If the price breaks above the $0.00001150-$0.00001250 range, a further decline might continue towards the $0.00001028 mark. SHIB is currently trading at $0.00001256.