SHIB (Shiba Inu) rate forecast for January 2024

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SHIB (Shiba Inu) rate forecast

Monthly timeframe
I, Victor from CryptoViktor UA, can see on the monthly timeframe that Shiba Inu (SHIB) has gone through a significant rise, but is now experiencing a certain decline. It is important to note that SHIB did not manage to take advantage of the first wave of Bitcoin’s growth in 2021, but showed significant growth later. This could be a sign of potential opportunities for investors in the future.

Weekly timeframe
On the weekly timeframe, Shiba Inu (SHIB) shows a sinusoidal price movement pattern. After attempting to rise last year, it now seems that we are seeing a decline. This may indicate a potential correction after a period of growth.

Daily timeframe
The daily timeframe is also showing a downward trend. Indicators such as the stochastic oscillator confirm this trend. This is an important point for traders considering short-term strategies.

Buyer/seller sentiment

There are divided sentiments among SHIB traders and investors. Some are set for growth, while others expect further declines. This makes the SHIB market quite volatile and unpredictable.

Bitcoin, bitcoin
As for Bitcoin, it is currently trading in a certain corridor and I expect it to show growth in the near future. This could have an indirect impact on SHIB and other altcoins.

Summary of the exchange rate forecast for the month
In summary, the monthly outlook for Shiba Inu (SHIB) indicates a potential decline, but given the volatility of the market, the situation can change quickly. It is important to follow market news and analyse indicators to make the right investment decisions.