The post Shiba Inu Prepares For A Correction As This Indicator Signals Overvaluation! Here’s The Next Support For SHIB Price appeared first on Coinpedia Fintech News
As the meme coin market undergoes a correction amid Bitcoin’s recent bearish trend, Shiba Inu is also feeling the impact, having faced rejection at its immediate resistance level. While various indicators, including the progress of Shibarium, suggest potential bullish outcomes, there’s growing concern over a bearish pullback due to a notable increase in a key on-chain trend indicating that SHIB’s price might be overvalued.
January Is Bullish For SHIB
As January 2024 approaches, the Shiba Inu price is set for another volatile move, judging by its past price returns. Over the last three years, SHIB has experienced notable volatility in January.
Specifically, in January 2022, SHIB concluded the month with a massive 35.8% decrease in value. However, January 2023 saw a remarkable turnaround, with SHIB recording a signif
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