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Most of the coins have continued their fall at the beginning of the new month, according to CoinStats.

SHIB/USD

The price of SHIB has gone down by 2.69% over the past day.

On the hourly chart, the rate of SHIB has broken the support level of $0.00001355. While the price is below that mark, bears are more powerful than bulls. In this case, the drop may continue to the $0.00001330-$0.00001340 zone.

On the bigger time frame, the price of the meme coin is far from its key levels.

However, if the daily candle closes near its low, there are chances of a test of the $0.0000130 area the upcoming week.

The weekly chart of SHIB is also bearish. If the situation does not change and a breakout of the $0.00001266 level happens, traders may witness an ongoing downward move to $0.000010.

SHIB is trading at $0.00001358 at press time.