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.
The calculation is derived from an extensive array of technical indicators, including moving average convergence divergence (MACD), relative strength index (RSI), Bollinger Bands (BB), and others.
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.
