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SHIB Price Prediction: Is Shiba Inu Coin Preparing for a Major Move?

Munene Timothy by Munene Timothy
January 28, 2025
in Binance Feed, Market
Reading Time: 3 mins read
SHIB Price Prediction: Is Shiba Inu Coin Preparing for a Major Move?
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  • SHIB trades at $0.00001901, gaining 3.25% in 24H but down 9.25% weekly, testing key support at $0.00001850-$0.00002120 for direction.
  • RSI at 36.69 nears oversold; MACD remains bearish. A breakout above $0.00002050 could trigger recovery toward $0.000027000.
  • SHIB burn rate drops 87.21% daily, reflecting weaker supply reduction. Holding $0.00001850 is crucial to prevent a fall to $0.00001500.

Shiba Inu (SHIB) has had intriguing patterns, with analysts assessing its price movements and future potential. At press time on January 28, SHIB was trading at $0.00001876, a 3.25% gain over the past 24 hours. 

However, it recorded a 9.25% decline over the past seven days. Analyst Ali noted the importance of the $0.0000185 to $0.0000212 range as an important support zone for SHIB’s performance.

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Market Trends and Technical Indicators

SHIB has had a fluctuating price behavior in recent weeks. The token opened at $0.00001898, reached a high of $0.00001933, and recorded a low of $0.00001899. 

SHIB’s price shows a bullish structure with higher highs and higher lows. However, its momentum appears to have slowed recently. SHIB’s trading volume reached 720.01 billion tokens, reflecting weakened buying pressure.

On a daily timeframe, the RSI is at 36.69, nearing the oversold zone. RSI above 50 could indicate recovery momentum, but the current value indicates weak sentiment. Meanwhile, the MACD shows a bearish trend, with a negative histogram and MACD line below the signal line.

Source: TradingView

Key support levels include $0.00001850 and $0.00001500, while resistance levels at $0.00002050 and $0.00002250 are critical for bullish momentum. Failure to hold the support may push SHIB toward $0.000014000.

Burn Metrics and Broader Implications

Shibburn reported a total market cap of $11.34 billion, up 4.25%. However, SHIB’s burn rate has seen an increased decline. Only 1,090,215 tokens were burnt in the past 24 hours, down by 87.21%, and 29,614,627 tokens burnt in the past week, a 59.03% decrease.

HOURLY SHIB UPDATE$SHIB Price: $0.00001925 (1hr 0.32% ▲ | 24hr 4.63% ▲ )
Market Cap: $11,337,637,293 (4.25% ▲)
Total Supply: 589,256,826,850,936

TOKENS BURNT
Past 24Hrs: 1,090,215 (-87.21% ▼)
Past 7 Days: 29,614,627 (-59.03% ▼)

— Shibburn (@shibburn) January 28, 2025

The market outlook remains focused on SHIB’s ability to maintain critical support levels and overcome resistance barriers. Monitoring the $0.00001850 zone is important, as a breakdown could lead to lower levels, while a breakout may pave the way for substantial upward moves.

Tags: Price AnalysisShiba Inu (SHIB) News

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