Shiba Inu (SHIB) is the leading cryptocurrency gathering central attention today. With Bitcoin noting an ebb and flow in its price, SHIB is also showing signs of fluctuations, portraying a volatile stance. Will SHIB be able to establish a robust price spot this weekend? Let’s find out.
Also Read: Microsoft: Why MSFT Is Bound for $500 All-Time High in 2025
SHIB’s Current Price Path
Shiba Inu is currently sitting at $0.00002419, down 5% in the last 24 hours. The token also noted a decline of 17% in the last 7 days, followed by a 4% decline documented in the last month. This bearish price stance of the token was primarily triggered by Bitcoin and recent fluctuations that the king of cryptocurrencies has been going through lately.
Bitcoin is also hovering around, showing active signs of volatility in its price. The token has dropped to another low of $100K after briefly claiming the $107K mark. The drop has primarily been triggered due to the recent comments made by Federal Reserve Chair Jerome Powell. The Federal chair clarified his stance on Bitcoin, adding how he is not “allowed” to own Bitcoin.
Despite the bearish stance that SHIB has been portraying as of late, several analysts are still bullish on Shiba Inu. Per a noteworthy crypto analyst, KlejdiCuni, on TradingView, SHIB may note a surge to $0.000070 despite facing intense pressure.
“Shiba Inu is still bullish, and the price is rising in an oval trend, making higher highs on the daily chart. The bullish patterns are clear, and the price has faced strong support several times near 0.00002424. It has been around this area for about one month, likely indicating an accumulation zone before a bigger wave begins.”
Also Read: Amazon Stock Rises as AMZN Plans $10B AI Investment
The Token’s Price Path for This Weekend?
Per CoinCodex, Shiba Inu may trade around $0.00004, noting a sudden surge in its price.
By the end of December or early January, SHIB can surge to trade around a new price spot of $0.00002473.
“According to our current Shiba Inu price prediction, the price of Shiba Inu is predicted to rise by 2.74% and reach $ 0.00002473 by January 18, 2025. Per our technical indicators, the current sentiment is bearish while the Fear & Greed Index is showing 81 (Extreme Greed). Shiba Inu recorded 17/30 (57%) green days with 8.51% price volatility over the last 30 days. Based on the Shiba Inu forecast, it’s now a bad time to buy Shiba Inu.”
Also Read: Cardano Up 77% in 2024 Amid Drop: What to Expect From ADA in January
