Meme cryptocurrency Shiba Inu (SHIB) ended 2022 having failed to replicate the gains of the 2021 bull run. Overall, the asset was hammered by the crypto sector meltdown as incidents such as the FTX exchange collapse affected investor confidence.
However, the machine learning algorithm at PrecePredictions projects that SHIB is likely to extend the bearish trend across January 2023. According to the projection, the decentralized finance (DeFi) asset would likely trade at $0.000008036. The prediction represents a drop of about 1% from SHIB’s price at the time of publishing.
The forecast takes into account technical indicators such as moving average (MA), moving average convergence divergence (MACD), relative strength index (RSI), and Bollinger Bands (BB), among others.
Shiba Inu 30-day price forecast. Source: PricePredictions
With the PricePredictions forecast highlighting a gloomy future for SHIB, the CoinMarketCap crypto community is bullish on the token’s prospect. According to t
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