Shiba Inu (SHIB) Eyes Major 50% Move as Bollinger Bands Signal

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In the upcoming weeks, it’s possible that Shiba Inu (SHIB), a well-known cryptocurrency inspired by memes, could display remarkable price movements. Interestingly, based on the Bollinger Bands shown in its weekly price chart, the cost of this asset has found support at a moderate level, even after a significant sell-off yesterday.

The Bollinger Bands, a popular analytical method used in trading, comprises of three lines: an upper line, a middle line calculated from a 20-day moving average, and a lower line positioned two standard deviations below the average. This tool, designed by John Bollinger, is appreciated for its effectiveness in following price trends and offering insights into possible future price fluctuations.

As long as Shiba Inu token stays above its current level, there seems to be a positive outlook on the market. Looking at Bollinger Bands, this could mean a potential resistance test by sellers at the top boundary, which is currently around $0.00003191, representing an increase of 50% from the present position.

If the Shiba Inu token’s price fails to hold onto its current support, there’s a likely possibility of it falling to approximately $0.00001075. This could potentially lead to a 50% decrease for SHIB, but in this case, the movement would be in a negative direction.

Regarding the potential future of the Shiba Inu token, it’s important to note that there are essentially two equally likely scenarios. One possibility suggests a significant increase of approximately 50%, while the other predicts a decline of similar magnitude.

Given that historical data shows a boom in the cryptocurrency market from January to March, with SHIB currently holding steady above a significant price level, it seems likely that we’re trending towards the pattern seen in previous years at this moment.

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2025-01-14 19:29