Altcoin rate forecast SHIB (Shiba Inu) for December 2023

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Altcoin rate forecast

Investing in crypto

Hello, my name is Victor. Today, on 28 December 2023, we are going to look at opportunities to invest in SHIBA INU (SHIB). This token ranks 16th in terms of capitalisation with assets of $6.5 billion and stands out for its active community, especially on Twitter, where it has 3.7 million followers. This demonstrates the high interest of investors in SHIBA INU.

Investing in SHIBA INU may be attractive because of its potential for growth, but it also carries certain risks, as the cryptocurrency market is volatile. It is important for investors to understand that this cryptocurrency can show both rapid growth and a sharp decline. I recommend conducting in-depth research, studying price history, news, and analytics before making an investment decision.

Crypto trading

On the monthly timeframe, SHIBA INU showed an impressive 830% rise in 2021, followed by a decline and accumulation. The last month shows a 30% increase, which could be a buy signal. For traders looking for short-term opportunities, SHIBA INU could be an interesting option.

It is important for traders to keep an eye on market indicators such as the stochastic oscillator and CCI, which are currently showing a downward direction on the weekly chart. This may indicate a potential decline or continuation of the flat situation. On the daily chart, the indicators are also pointing to overbought conditions, which may indicate a need for accumulation before growth. Therefore, traders should be careful and consider all possible scenarios before entering positions.

Buyers’ and sellers’ sentiment

The SHIBA INU market is characterised by a positive sentiment among investors. Most market participants believe in the growth of this cryptocurrency, although some traders are cautious and expect a correction.

Summary of the exchange rate forecast for the month

To sum up, I believe that SHIBA INU could show positive dynamics in January 2024. However, traders should be cautious and keep an eye on market signals as corrections are possible.

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