Shiba

2024

Shiba Inu

Status

<p><strong><em>The Shiba Inu (SHIB) price has shown bullish signs, particularly with a significant bullish candlestick formed on January 11, which prevented a potential breakdown from a minor horizontal support area. This development, coupled with the recent approval of <a href="https://cryptoticker.io/en/interview-statement-sec-gary-gensler-approval-of-spot-bitcoin-exchange-traded-products-is-out/" target="_blank" rel="noreferrer noopener">Bitcoin spot ETFs</a>, raises intriguing questions about the future trajectory of SHIB’s price and its potential correlation with broader market trends.</em></strong></p>   
<h2 id="h-technical-analysis-a-bullish-trend">Technical Analysis: A Bullish Trend?</h2> 
<p>From a technical standpoint, <a href="https://cryptoticker.io/en/shiba-inu-coin-whats-happening-in-the-crypto-world/" target="_blank" rel="noreferrer noopener">Shiba Inu’s</a> journey has been quite eventful. After a period of decline under a descending resistance trend line since August 2022, leading to a low of $0.0000054 in June 2023, SHIB’s price has seen an upward trend. The breakthrough above the descending resistance trend line in December 2023, after more than 480 days, was a key turning point. Although the price reached a high of $0.000011 post-breakout, it experienced a subsequent fall. However, last week’s validation of the trend line as support and the subsequent bounce are positive signs.</p>  
<h2 id="h-market-indicators-and-shib-s-future">Market Indicators and SHIB’s Future</h2> 
<p>The Relative Strength Index (RSI), a crucial momentum indicator, is currently above 50, indicating a bullish trend. The SHIB price has been trading inside an ascending parallel channel since June 2022, reaching a high of $0.0000119 on December 17, 2023. Despite a recent dip below the channel’s midline and the RSI falling below 50, the bullish candlestick formed today suggests a potential upward movement.</p>  
<h2 id="h-shib-s-current-market-status">SHIB’s Current Market Status</h2> 
<p>As of now, SHIB is trading at $0.00001011, with a 24-hour change of +4.23%. The 24-hour high and low are $0.00001018 and $0.00000911, respectively. The 24-hour trading volume in SHIB is 6,675,978,605,530.00, with a corresponding volume in USDT of 64,439,250.76. The RSI stands at 52.7, and SHIB has seen an uptrend of 7% today.</p> 
<figure class="wp-block-image size-large">
 <a href="https://www.tradingview.com/symbols/SHIBUSD/"><img loading="lazy" width="1824" height="779" src="https://cryptocdn.fra1.cdn.digitaloceanspaces.com/sites/8/image-404.png" alt="Shiba Inu" class="wp-image-123440"></a>
 <figcaption>
  SHIB/USDT 1D – <a href="https://www.tradingview.com/symbols/SHIBUSD/" target="_blank" rel="noreferrer noopener">TRADINGVIEW</a>
 </figcaption>
</figure> 
<h2 id="h-price-prediction-and-key-levels-for-shiba-inu">Price Prediction and Key Levels for Shiba Inu</h2> 
<p>If <a href="https://cryptoticker.io/en/interview-statement-sec-gary-gensler-approval-of-spot-bitcoin-exchange-traded-products-is-out/" target="_blank" rel="noreferrer noopener">SHIB</a> maintains its position above the minor support level of $0.0000092, we could see a 27% increase to the channel’s resistance trend line at $0.0000123. However, a close below $0.0000092 could invalidate this bullish scenario, potentially leading to a 22% fall to the channel’s support trend line at $0.0000077.</p>  
<h2 id="h-buy-cryptocurrency-with-bitget-with-the-cheapest-fees">Buy Cryptocurrency with Bitget with the CHEAPEST Fees</h2> 
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Shiba Inu (SHIB) Price Analysis and Market Update Today

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