Shiba Inu price remains firmly above the $0.00002 support level. In 2024, Shiba Inu experienced a significant rally, following a bullish trend from early in the year. The coin recorded substantial gains. However, in recent days, the crypto market underwent corrections. BTC fell below the $100K threshold. Amid these crypto markets struggles to rebound. This raises the question: How high can SHIB price go in Jan 2025?
Can Shiba Inu Price Hit New Highs in January 2025?
The Shiba Inu price has recently faced a downturn, recording a 20% decline over the past month, which has stirred concerns among its community about the potential outlook for 2025.
Despite this recent setback, SHIB investors remain optimistic, as the token’s performance surged by over 130% in 2024. This impressive rally raises the possibility of SHIB reaching new heights in January 2025.
Market analysts suggest that a resurgence in BTC, potentially surpassing the $100k mark, could spark a broader rally across the cryptocurrency market, including Shiba Inu.
Additionally, increasing activities by SHIB whales purchasing more tokens during the dip could indicate a preparation phase for an upcoming rally. These large-scale purchases often signal significant upcoming price movements.
Furthermore, the momentum in other leading meme coins such as Dogecoin, Pepe, Pingu, and WIF could also contribute to SHIB’s rise. The community is also buzzing with excitement about new developments, including the launch of governance tokens and the upcoming TREAT initiative, which aims to enhance the token’s blockchain utility.
With the U.S. presidential inauguration set for January 20th, the political climate may also play a role in the crypto market dynamics, potentially influencing Shiba Inu’s price trajectory as the month progresses.
Analyst Predicts Continued Surge for SHIB Price
Crypto analysts indicate that the Shiba Inu price is still in a significant breakout phase, with potential gains not fully realized yet.
The current price action suggests a future target of $0.000081, over 261% higher than current levels. This gradual climb could extend the currency’s upward trajectory, with $0.0001553 as the next potential milestone if the trend continues upward.
Source: Tweet
Will SHIB Price Hit $0.00005 This Month?
As of Friday, January 10th, the SHIB price hovered at $0.00002168, struggling to gain momentum with a slight increase of 3.04%.
The Relative Strength Index (RSI), currently at 42, suggests that SHIB is neither overbought nor oversold. The Moving Average Convergence Divergence (MACD) indicates a bearish trend, as evidenced by the histogram moving below the signal line.
Market analysts point to crucial resistance and support levels that could influence SHIB’s short-term trajectory. The immediate resistance lies at $0.000025, while support is found at $0.000021.
A break beyond these boundaries could dictate the next significant move for SHIB in the coming weeks. If bulls gain more power, the Shiba Inu price prediction could hit $0.00005 in the near term.
Shiba Inu Price Chart: TradingView
If market conditions remain favorable, especially with potential boosts from Bitcoin’s performance and political influences, Shiba Inu might set new records in January 2025. This scenario presents a bullish outlook for SHIB as the new year unfolds, potentially reaching unprecedented highs.
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