Shiba Inu (SHIB) Shows Hopeful Indications for February Despite January Drop

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SHIB: Hope for a better February after 14.50% loss in January

The cryptocurrency Shiba Inu (SHIB) recorded a loss of 14.50% in January. Despite this decline, there is hope for better performance in February.

No weekly loss for SHIB

Interestingly, SHIB was the only meme coin project that did not record any weekly losses at the time of reporting. While other coins were in the red due to outflows from the Grayscale Bitcoin Trust, SHIB held up comparatively better.

Recovery in sight?

Technical analyst Ali Martinez recently made a bullish forecast for SHIB. He discovered a buy signal on the TD Sequential Indicator, which made him optimistic about an imminent upswing of SHIB. He predicted that SHIB could rise to $0.010 or even $0.011.

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This forecast was supported by data from Trading View. The Relative Strength Index (RSI) showed a slow upward movement towards the neutral 50 mark, indicating a diminishing selling pressure. In addition, the Moving Average Convergence Divergence (MACD) line crossed the signal line, which is interpreted as a buy signal by most analysts and traders.

Whales smell profits

Despite the price drop, large transactions (whales) of more than $100K increased in the last four days. This suggests that whales are stocking up in anticipation of future profits.

The number of long positions for SHIB significantly exceeded the short positions at the time of reporting, suggesting that traders are hoping for a better February.

Sources: AMBCrypto, Trading View, Santiment, Coinglass

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Casinos: 9
Profile Shiba Inu
Symbol SHIB
Coin type Meme Coin
Transaction Speed High
Pros
  • High security thanks to ERC-20 token standard on ETH protocol
  • Well suited for an easy entry into the crypto world
Cons
  • Not yet widespread
  • Price fluctuations
Price 0,00 €
Percent Change 24h -0,79 %
Percent Change 7d -14,64 %
Percent Change 30d -28,41 %
Percent Change 60d -31,48 %
Percent Change 1y 151,47 %
Market Cap 9.974.424.597,00 €
Official Links
Socials Reddit | X
Best 3 Shiba Inu casinos

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