The post How Low Could SHIB Coin Drop in January? appeared on BitcoinEthereumNews.com.

Shiba Inu price, a meme-based cryptocurrency, has experienced a significant drop over the past week. This decline aligns with a broader downturn in the cryptocurrency market. Bitcoin, for instance, has fallen below $94k. Other crypto have also seen decreases. Shiba Inu’s value has decreased by 10% during this period. It recently plummeted to $0.00002, breaching several support levels. This raises concerns about how low SHIB could potentially fall by January. Will Shiba Inu Price Plunge Further in January? Shiba Inu price continues its downward trend alongside major cryptocurrencies like Bitcoin, Ethereum, and Ripple, all recording notable losses. As of today, the global cryptocurrency market value stands at $3.24 trillion, showing a decline of 3.12% in the last 24 hours.  Trading volumes across the market have also fallen by 10%, totaling $164.38 billion. This week’s sharp downturn highlights increasing bearish sentiment since the month’s onset. Market analysts attribute the drop to anticipations of stricter monetary policies by the U.S. Federal Reserve. Such expectations have prompted investors to reduce their holdings in riskier assets, including popular memecoins such as SHIB. Similar downtrends are evident in other meme coins like Dogecoin, WIF, and Pepecoin. If these trends persist, Shiba Inu’s price could potentially sink further in January. According to recent data, Shiba Inu has significantly decreased its circulating tokens. Over the past 24 hours, an impressive total of 8,738,201 SHIB tokens were incinerated. This adjustment has seen the circulating supply dip to 584 billion tokens.  The Shiba Inu ecosystem also reports that out of the initial supply, over 410 trillion tokens have been permanently removed. Notably, 5 billion tokens remain staked as xSHIB, contributing to a secure network foundation Source- Shibaburn data SHIB Price Analysis At the time of writing, the SHIB price hovered at $0.0000216, marking a modest decrease of 4%. Over…

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Filed under: News - @ January 10, 2025 1:19 am