Shiba Inu has fallen below the middle line of the Bollinger Band on its daily chart, indicating a bearish trend for the popular meme coin. After a brief rally at the start of January, Shiba Inu's price momentum has waned, dropping 22% from its January 5 high of $0.00001009 to its current price of $0.0000078. The middle band, representing the 20-day simple moving average, is a critical indicator of short-term market trends. The recent decline suggests a potential continuation of the downtrend, with the next support level at the lower Bollinger Band around $0.0000073. Despite the bearish signals, a shift in broader market sentiment could still influence Shiba Inu's price trajectory. Investors are advised to monitor market conditions closely as the situation evolves.
Shiba Inu Dips Below Key Bollinger Band Indicator, Signaling Bearish Trend
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