Is Shiba Inu Coin (SHIB) Presenting a Buying Opportunity or Is It a Sell in January 2025?
We review the catalyst for downward pressure on Shiba Inu Coin.
We also look at the SHIB chart and its message for January 2025.
Crypto falling in January 2025? Or flat?
It goes without saying that SHIB follows the general crypto market trend.
Although we appreciate encouraging messages like this one below (from), we suggest staying focused on the real price determinants.
#Crypto Trends in India
🔹 $DOGEwith its 8% market share, remains the most popular coin in India, followed by $BTC (7%) and $ETH (6%).
🔹 $SHIB holds a 5% share, with the remaining 58% divided among others #cryptocurrencies.#CoinPedia #CryptoNews #Blockchain #Bitcoin… pic.twitter.com/H5OsV0mJG3
– Coinpedia (@CoinpediaNews) December 30, 2024
The real price determinants are Bitcoin and its influences on other markets.
As explained in detail in Why are Bitcoin (BTC) and crypto prices fallingUSD and yields are the catalyst for BTC and crypto to fall. The price of SHIB cannot escape such a decline.
The USD chart is showing far too much strength for the cryptocurrency to rise.
We also explained in Can Bitcoin (BTC) exceed $100,000 in January 2025? that there is a calendar problem:
Most likely, BTC will test $100,000, but it will not cross it convincingly, not yet.
Even if BTC clears $100,000, it will test it once or twice in January 2025. While we remain firmly bullish on the crypto in 2025, we believe January 2025 will bring consolidation.
If continued strong bullish momentum develops, this should occur in February, with January 2025 serving as a foundation upon which momentum can be built later.
Indeed, there is no momentum in the Bitcoin calendar. Combined with the decline in the dollar and yields, this results in a lack of upward momentum.
Conclusion – Our best guess is that January 2025 will be stable with a bearish bias.
Crypto down, Shiba Inu price down
SHIB is falling as it follows the general crypto market trend.
Will SHIB be optimistic in the long term? Yes, that’s what we explained in our Shiba Inu Coin (SHIB) Prediction for 2025.
However, the short-term headwinds are clear from the Shiba chart: the 50% Fibonacci level provided far too much resistance, as expected.
The point is this: whether the breakout level at $0.0000241 (50% Fibonacci) offers resistance.
SHIB needs to create support, which it will do at its 61.8% Fib level at $0.0000177.
Our best guess is that $0.0000177 to $0.0000241 will be the consolidation range for SHIB in January 2025.