#TradeNTell #SHIBAINU #forecast The Shiba Inu (SHIB) price began to fall after failing to break through the resistance line on December 17th.

Technical analysis of the daily time frame shows that the Shiba Inu has been trading inside an ascending parallel channel since June 2023. The rise led to a high of $0.00000120 on December 17, 2023, after which the price of memcoin began to decline.

At the beginning of the year, SHIB dropped below the channel's midline and then fell through the short-term horizontal area. At the moment, the asset is moving below the channel.

If the Shiba Inu price continues to correct, it could decline another 12% and reach the next immediate support at $0.0000077.

P.S. This is just a forecast, nothing more.