SHIB Price Prediction for January 1

Most of the coins remain in the red zone at the beginning of 2025, according to CoinStats.

SHIB/USD

The rate of SHIB has declined by 3.32% over the last 24 hours.

On the hourly chart, the price of SHIB is in the middle of the local channel, between the support of $0.00002071 and the resistance of $0.00002151.

As most of the ATR has been passed, any sharp moves are unlikely to happen today.

On the bigger time frame, one should focus on the nearest level of $0.00002053. If a breakout happens, the accumulated energy might be enough for a test of the $0.000020 range soon.

From the midterm point of view, the picture is also bearish. If the rate falls below the $0.00002095 level, traders may witness an ongoing correction to the $0.000018 mark.

SHIB is trading at $0.00002124 at press time.

Source