Is It Possible for Shiba Inu (SHIB) to Drop a Zero From Its Price in 2024?
Shiba Inu Price Analysis: Shiba Inu (SHIB) could potentially drop a zero from its price in 2024 if it achieves a 400% rally, but this is deemed unlikely due to increased competition among dog-themed cryptocurrencies and fragmented investor interest.
Future Outlook: A more favorable scenario for SHIB to drop a zero may occur in 2025, contingent on Bitcoin's performance and a potential bull market, with predictions suggesting Bitcoin could reach $100K by August 2025.
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Technical Analysis for SHIB
Technical Sentiment Analysis for Shiba Inu (SHIB) As of , Shiba Inu (SHIB) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 1 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for SHIB stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, SHIB is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Shiba Inu (SHIB) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.00000306 | 0.00000407 | 0.00000523 | 0.00000624 | 0.0000074 | 0.00000841 | 0.00000957 |
| Fibonacci | 0.00000407 | 0.0000049 | 0.00000541 | 0.00000624 | 0.00000707 | 0.00000758 | 0.00000841 |
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