$BTC $BNB

🔴 As of January 6, 2025, Shiba Inu ($SHIB ) is trading at approximately $0.0000242, reflecting a modest increase of about 0.63% from the previous close.

🔴 Technical analysis indicates a neutral Relative Strength Index (RSI) of 51.08, suggesting that $SHIB is neither overbought nor oversold. Short-term moving averages, such as the 5-day and 10-day Simple Moving Averages (SMA), are signaling a 'Buy,' indicating potential for continued upward momentum. Support levels are identified around $0.000021 and $0.000015, while resistance levels are near $0.000026 and $0.000033.
📊 Analysts have observed a bullish cup-and-handle pattern on SHIB's weekly chart, projecting a breakout target of $0.000066651. This pattern suggests accumulation and consolidation before a potential upward breakout.
🔴 Additionally, recent initiatives to reduce SHIB's total supply through token burns have positively impacted its scarcity and potential value.
💹 While $SHIB has shown positive indicators, it's important to note that the cryptocurrency market is highly volatile. Investors should conduct thorough research and consider their risk tolerance before making investment decisions.
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