The cryptocurrency market continues to be volatile, with SHIB taking a significant hit today. According to CoinMarketCap, SHIB has dropped by 6.81% in the past 24 hours. Analyzing the hourly chart reveals SHIB’s price is nearing resistance at $0.00001188. If buying pressure continues, this could lead to a break-out and further movement towards $0.00001220. However, a false breakout from support around $0.00001141 is possible on the larger time frame. Despite potential sideways trading in the area of $0.00001150-$0.000012, further SHIB movement could be influenced by buyers’ energy accumulation. In the medium-term view, a bearish outlook emerges if the weekly candle closes around current price levels or below, potentially leading to a test of the $0.000011 range. SHIB is currently trading at $0.00001184 as of press time.