Citing The Crypto Basic, Shiba Inu (SHIB) is under bearish pressure as it struggles to find a floor ahead of Christmas. The price has dropped 1.7% in the last 24 hours, fluctuating between $0.00000697 and $0.00000717. Over the past 7 days, SHIB has declined by 10.4%, and by 18.7% over 14 days. The price is now approaching the 1.618 Fibonacci extension at $0.0000063511, with a potential breakdown below $0.0000075563 seen as a key concern. The Stochastic RSI remains above the oversold level, indicating continued bearish momentum. Coinglass data also shows a negative Volume-Weighted Funding Rate, reflecting strong bearish sentiment.
Shiba Inu Price Analysis for Dec 24: SHIB Struggles to Find a Floor
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Summary
Shiba Inu price analysis for Dec 24 shows continued bearish pressure as SHIB struggles to find a floor. The price movement over the last 24 hours saw a 1.7% drop, trading between $0.00000697 and $0.00000717. Over 7 days, SHIB has fallen 10.4%, with a 14-day decline of 18.7%. The token is nearing the 1.618 Fibonacci extension at $0.0000063511, with a breakdown below $0.0000075563 a key concern. Stochastic RSI remains above oversold, and Coinglass reports a negative Volume-Weighted Funding Rate.
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