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Shiba Inu (SHIB) Price Prediction for December 18
The cryptocurrency market has been witnessing a surge in recent times, with various coins experiencing significant price fluctuations. Against this backdrop, it is essential to analyze the current situation and predict potential future trends of cryptocurrencies like Shiba Inu (SHIB).
The analysis suggests that SHIB may be approaching a crucial resistance level and has already started exhibiting bearish signs, leading to a forecasted drop in its value in the near future.
Notably, the large transaction volume for SHIB has seen an impressive growth of 238.58% over the past day, according to data from IntoTheBlock. This increase in activity may indicate that investors are becoming more optimistic about the asset’s potential future price movements.
However, it is important to note that recent trends have revealed a bearish outlook for SHIB, with signs of selling pressure and a bearish price action pattern forming on the charts.
According to technical analysis, if SHIB breaks down from this pattern and closes below the $0.0000258 mark, there is a high likelihood it could decline by approximately 20% in the days ahead, potentially reaching the $0.0000206 level.
Source: coinpedia.org
