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Shiba Inu (SHIB) Price Prediction: January End 2024

Vignesh Karunanidhi
Vignesh Karunanidhi
January 23, 2024
With Shiba Inu (SHIB) recently erasing one zero from its price, a top market analyst has uncovered the key target and support levels to watch out for going forward. Shiba Inu price erased one zero to trade at a 24-hour high of $0.00001462. Though the token had shown signs of an imminent rally for weeks, the current market momentum pushed its price to the highest level in more than 52 weeks. Judging by the current outlook, market analyst SHIB KNIGHT affirmed that Shiba Inu has surpassed all of his previous targets. To showcase the confidence in the current uptrend, SHIB KNIGHT dropped new targets and support levels to watch. Shiba Inu to $0.00001668? Per an accompanying price chart, the 3 targets and support levels unveiled are relatively bullish, as none of the latter targets shows a slump below the $0.00001 level. According to $SHIB KNIGHT, the current momentum might push Shiba Inu to $0.00001466, a price point that will slightly outpace the 52-week high. On a more promising basis, the analyst foresees SHIB soaring to $0.00001545, a level that is about 9.886% from the current level. SHIB KNIGHT is also optimistic Shiba Inu could rally as high as $0.00001668 and even beyond, per earlier projections. Though the potential timeline to achieve this feat was not highlighted, the projections have set the community on edge with pent-up anticipation of what to watch out for. Cautionary SHIB Note Amid the bullish targets, SHIB KNIGHT left room for unforeseen circumstances that might trigger a reversal in Shiba Inu’s uptrend. At the time of writing, Shiba Inu has maintained a 24-hour growth of 13.06%, taking its price and market cap to $0.00001409 and $8,285,705,642 respectively. Exactly $2,271,151,442 SHIB has been traded within the same time span. There are no guarantees that the market would not record a correction. Riding on this, SHIB KNIGHT pegged the first support level at $0.00001343 with a subsequent target of $0.00001306 if the selloffs persist. To cap his bullish disposition, the analyst believes the support zone at $0.00001258 is a formidable one for SHIB, a point at which another trend reversal might be recorded.

Shiba Inu, a prominent meme coin, has been grabbing headlines with its recent price fluctuations. SHIB has positioned itself as a serious contender, engaging in head-to-head competition with the well-known Dogecoin.

Despite its notable achievements, including a recent surge that led to the deletion of one zero from its price, SHIB has experienced a sudden reversal. The meme coin swiftly added another zero to its price, according to the latest data.

With cryptocurrency prices trading with major volatility in the past few days, here is our Shiba Inu price prediction for January end 2024.

Also read: Shiba Inu: $1000 in SHIB Becomes $9 Million in January 2024

Shiba Inu price prediction for January end 2024

Shiba Inu’s price currently stands at $0.00000925, with a 2.8% drop in value over the last 24 hours. According to Changelly analysts, SHIB is expected to trade at a minimum of $0.00000840 and a maximum of $0.0000102 in January end 2024. Experts predict that the average trading price will be in the range of $0.00000800 to $0.00001016. SHIB has fallen 89% since its all-time high of $0.00008845 on October 28, 2021.

Also read: Cryptocurrency: Top 5 Altcoins That Could Yield Maximum Profit In 2024

The market is volatile at the moment and is showing a downtrend, with the global cryptocurrency market cap down by over 1.77%. However, the price can go in either direction, depending on market sentiment and other factors.

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