Shiba Inu (SHIB) Uptrend Still Intact, Bollinger Bands Signal
Analysis
Price Impact
MedShib has experienced a 4.5% drop amidst a broader market decline. while its uptrend is considered intact by bollinger bands and weekly gains persist, decreased trading volume, a significant drop in the burn rate, and reduced open interest pose challenges to immediate recovery.
Trustworthiness
HighThe analysis uses technical indicators like bollinger bands and rsi, and incorporates on-chain data such as trading volume, burn rate, and open interest, providing a comprehensive view.
Price Direction
NeutralDespite a recent 4.5% price drop, the article suggests the overall uptrend for shib is still intact according to bollinger bands, and weekly gains persist. however, declining trading volume, burn rate, and open interest could hinder a quick rebound, making the short-term outlook cautious while the mid-term trend remains hopeful if the broader market recovers.
Time Effect
ShortThe current price drop is viewed as a 'mild price reset' that might not linger in the short term, but declining interest (volume, burn rate, open interest) could delay a stronger recovery in the medium term.
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Cover image via www.freepik.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. Read U.TODAY on Google News Shiba Inu (SHIB) has dropped by over 4.5% in the last 24 hours as the broader cryptocurrency market suffered a decline. Despite this setback, the meme coin’s uptrend remains intact as Shiba Inu’s Bollinger Bands signal hope for the price outlook. Advertisement Bollinger Bands and Shiba Inu outlook CoinMarketCap data indicates that Shiba Inu’s upper Bollinger Bands have a slight depression just below $0.000008503. Regardless of this depression, the meme coin has not totally unraveled. Notably, the Relative Strength Index (RSI) of SHIB has only slightly shifted from neutral position. With Shiba Inu yet to slip into oversold conditions, the current price drop might just be a mild price reset that might not linger. As of press time, Shiba Inu exchanged hands at $0.000008588, which represents a 4.34% decrease in the last 24 hours. This indicates that the asset is still performing above its upper Bollinger Bands. However, trading volume has also slipped into the red zone, down by 27.75% to $134.7 million. Shiba Inu Price Outlook | Source: CoinMarketCap This remains a major challenge for the dog-themed meme coin. If investors’ interest fails to rekindle, the current decline might linger. More worrisome is that the SHIB deflationary burn mechanism is down by over 82%. This could affect the asset’s recovery journey as potential investors might not be moved to accumulate SHIB. Already, Shiba Inu’s open interest has dropped by 17% as losses extended in the ecosystem. This indicates that the futures market is also on a decline. You Might Also Like Thu, 01/08/2026 - 15:26 Bitcoin to $60,000 or $250,000? Key Price Targets Shaping BTC 2026 Outlook By Tomiwabold Olajide Shiba Inu’s weekly gains persist As U.Today reported, Shiba Inu appears to have gone back in time as SHIB is currently trading at levels similar to its preholiday structure. In 2025, the meme coin faced intense volatility that ultimately resulted in the addition of a zero. The only support Shiba Inu has is that the meme coin has not lost all of its weekly gains. It remains up by 23% in the last seven days, and if the broader crypto market recovers, SHIB to $0.00001 might be a reality. #Shiba Inu