As Christmas approaches, savvy investors are turning their attention to the crypto market, seeking opportunities that could offer substantial returns. Shiba Inu (SHIB), a popular cryptocurrency, stands out as a prime candidate for this holiday investment.
Why? Because, beyond its growing popularity, SHIB presents a unique blend of volatility and potential that makes it especially appealing during the festive season.
With these factors at play, Finbold reached out to PricePredictions, a platform renowned for employing advanced machine learning algorithms. These algorithms carefully examine ever-changing market conditions and analyze pertinent indicators to gauge the probability of Shiba Inu gains by Christmas day.
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Surprisingly, the algorithms project that SHIB will fall to $0.00000825 by the end of the month, representing a -1.67% decrease from the current asset price at the time of publication.
Shiba Inu price analysis
The Shiba Inu price chart draws the focus of technical analysis, depicting a situation that requires attention. Following a phase of volatility, SHIB examines a support level, with its price movement closely following the lower limits of a descending channel pattern.
The RSI is positioned in a neutral zone, indicating the absence of an immediate overbought or oversold condition.
At the time of press, SHIB was trading at $0.00000834, representing an increase of 2.84% in the previous 24 hours. These gains come after a solid week where this crypto added 3.75% to its value and a 4.26% increase over the 30 days.
In the last year, Shiba Inu has undergone a price decrease of -10%. This decrease indicates that SHIB has been outperformed by 78% of the top 100 crypto assets.
It is important to note that this cryptocurrency is currently trading below its 200-day simple moving average. However, its recent gains contributed to 16 green days in the previous month.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.