Shiba

bullish

when

Epic

Shiba Inu

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
The popular meme-inspired cryptocurrency&nbsp;<a href="https://u.today/shib-burns-plunge-on-all-time-frames-whats-happening" rel="noopener noreferrer nofollow">Shiba Inu (SHIB)</a> is closing the current week on a bullish note, as signaled by the Bollinger Bands indicator. Developed and named after its creator, John Bollinger, the indicator represents two dynamic lines of average maximum and minimum asset prices and the average, forming a full-fledged range.
Price movement and behavior within this range can help traders make investment decisions, including when abnormal compressions and contractions occur, or when the price moves outside one of the bands.
In our case, nothing particularly global happened, but a hidden signal was given. Thus, the price of the&nbsp;<a href="https://u.today/shiba-inu-shib-on-verge-of-exiting-trillionaires-club" rel="noopener noreferrer nofollow">Shiba Inu</a> token, despite the fact that it lost 5.84% this week, managed to go above the average of the bands, which in itself indicates the strength of buyers or bulls in the asset, and if the weekly candle is fixed above this level, it will be a great help for SHIB. <img alt="&quot;&quot;" data-entity-type="file" data-entity-uuid="73374910-a99c-4df6-aaad-158be9c5e288" src="https://u.today/sites/default/files/inline-images/SHIBUSDT_2024-10-06_19-41-28.png">Source: <a href="https://www.tradingview.com/x/wzTHyYsf/" rel="noopener noreferrer nofollow">TradingView</a>
<h2 dir="ltr" id="shiba-inu-shib-price-2-main-scenarios-right-now">Shiba Inu (SHIB) price: 2 main scenarios right now</h2>
If Sunday ends with the price of the Shiba Inu token above $0.00001714, it will be open to $0.00002456, which would mean another 26.5% move to where the upper Bollinger Band is now. This scenario also fits with the logic that this week was a correction to last week's retracement, which saw&nbsp;<a href="https://u.today/shib-burns-plunge-on-all-time-frames-whats-happening" rel="noopener noreferrer nofollow">SHIB</a> rise 33.2%.
Of course, these are just probabilities and theories. If the price of the meme token is destined to fall, then the lower boundary of the range on the indicator is now at $0.0000098.

What's Next for Shiba Inu (SHIB) Price? Bollinger Bands Unveil Epic Scenario

Table of Contents

U_Today

Other articles published on Oct 6, 2024

Coinpedia Fintech News

A Cryptocurrency Project Overtakes Solana in Fee Revenues, Data Shows

Investors Analyze Meme Coins for Profit Opportunities

PEPEOCTO Will Rally 18,000% Ahead of Exchange Listing, As SHIB and BONK Underperform

Ethereum Whales Disappearing: The Implication on ETH’s Future

Next Cryptocurrency to Explode, October 6 — Threshold, Gas, Aragon, Celo

Join our free newsletter for daily crypto updates!