Is Shiba Inu Coin (SHIB) presenting a buy opportunity or is it a sell in January 2025?
We revise the catalyst for the downward pressure in Shiba Inu Coin.
We also look the SHIB chart, and its message for January 2025.
Crypto down in January 2025? Or flat?
It goes without saying that SHIB is following the general crypto market trend.
While we appreciate encouraging messages like this one below (from X), we suggest to stay focused on the real price drivers.
#Crypto Trends in India
🔹 $DOGE, with its 8% market share, remains the most popular coin in India, followed by $BTC (7%) and $ETH (6%).
🔹 $SHIB holds a 5% share, with the remaining 58% spread across other #cryptocurrencies.#CoinPedia #CryptoNews #Blockchain #Bitcoin… pic.twitter.com/H5OsV0mJG3
— Coinpedia (@CoinpediaNews) December 30, 2024
The real price drivers are Bitcoin, and its influences from other markets.
As explained in great detail in Why Are Bitcoin (BTC) And Crypto Prices Down, the USD and Yields are the catalyst for pushing BTC and crypto lower. The price of SHIB cannot escape such a drop.
The USD chart shows way too much strength for crypto to rise.
We also explained in Can Bitcoin (BTC) Break Through $100k In January 2025? that there is a timeline issue:
Most likely, BTC will test $100k but it won’t convincingly break through it, not yet.
Even if BTC clears $100k, it will back test it once or twice in January 2025. While we remain firmly bullish for crypto in 2025, we believe that January 2025 will come with a consolidation.
If strong and continued bullish momentum develops, it should happen in February, with January 2025 acting as the foundation on which momentum can be built at a later point in time.
Indeed, there is no momentum on Bitcoin’s timeline. Combined with push back from the USD and Yields, it results in lack of bullish momentum.
Conclusion – Our best guess is that January 2025 will be flat with a bearish bias.
Crypto down, Shiba Inu price down
SHIB is down because it follows the general crypto market trend.
Will SHIB be bullish long term? Yes, that’s what we’ve explained in our Shiba Inu Coin (SHIB) prediction for 2025.
However, short term headwinds are clear from Shiba’s chart – the 50% Fib level provided way too much resistance, as expected.
The point is this – if the breakout level at $0.0000241 (50% Fibonacci) provides resistance.
SHIB has to create support which it will do at its 61.8% Fib level at $0.0000177.
Our best guess is that $0.0000177 to $0.0000241 will be the consolidation range for SHIB in January 2025.
