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Bulls are trying to hold the initiative on the last day of the week, according to <a href="https://u.today/bitcoin-btc-price-prediction-for-december-7" rel="noopener noreferrer nofollow">CoinStats</a>. <img src="https://u.today/sites/default/files/inline-images/top10_1517.png" data-entity-uuid="e53c79f4-07e9-45ae-9827-2daf570986e5" data-entity-type="file" data-caption="SHIB chart by&amp;nbsp;<a href=&quot;https://coinstats.app/coins/&quot;>CoinStats</a>">
<h2 class="text-align-justify" id="shib-usd">SHIB/USD</h2>
The rate of SHIB has increased by 3.31% over the last day. <img src="https://u.today/sites/default/files/inline-images/shib1_133.png" data-entity-uuid="d2a5c454-a9d3-4c5a-ba41-00fea00439b3" data-entity-type="file" data-caption="Image by&amp;nbsp;<a href=&quot;https://www.tradingview.com/symbols/SHIBUSDT&quot;>TradingView</a>">
On the hourly chart, the rate of SHIB is in the middle of the local channel, between the support of $0.00003120 and the resistance of $0.00003343.
As most of the ATR has been passed, any sharp moves are unlikely to happen by the end of the day. <img src="https://u.today/sites/default/files/inline-images/shib2_129.png" data-entity-uuid="09d229bc-7948-4830-9619-cc1b07d22998" data-entity-type="file" data-caption="Image by&amp;nbsp;<a href=&quot;https://www.tradingview.com/symbols/SHIBUSDT&quot;>TradingView</a>">
On the bigger time frame, the price of the meme coin has once again bounced off the resistance of $0.00003316. If the candle closes far from that mark, there is a possibility of a correction to the $0.000031 area. <img src="https://u.today/sites/default/files/inline-images/shib3_133.png" data-entity-uuid="c6b29636-bd60-4632-a1c8-dd27c8827b4f" data-entity-type="file" data-caption="Image by&amp;nbsp;<a href=&quot;https://www.tradingview.com/symbols/SHIBUSDT&quot;>TradingView</a>">
From the midterm point of view, one should focus on the weekly bar closure in terms of the $0.00003316 level. If it happens below it, sellers may seize the initiative, which might lead to a decline to the $0.000030 range.
SHIB is trading at $0.00003225 at press time. <a href="https://u.today/shib-price-prediction-for-december-8" rel="noopener noreferrer nofollow">Read original article on U.Today</a>

SHIB Price Prediction for December 8

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