Shiba Inu’s Descent: Will It Climb Back? 🐕💸

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Oh, what a delightful way to start the week! The once-vibrant Shiba Inu, a meme coin with a loyal following, has taken a nosedive, plummeting over 4.5% in the past day. What a charming twist of fate, isn’t it? 🦴💸

Bollinger Bands and Shiba Inu outlook

CoinMarketCap data reveals that Shiba Inu’s upper Bollinger Bands have dipped slightly, like a weary traveler pausing for a sip of tea. Yet, the meme coin remains steadfast, refusing to surrender entirely. The RSI, that ever-loyal companion, has only slightly shifted from its neutral stance, much like a man who has lost his hat but still manages to maintain a dignified posture. 🧢

With Shiba Inu still above its upper Bollinger Bands, the current price drop might just be a brief respite-a mild reset, if you will. But beware, for the trading volume has slipped into the red zone, down by 27.75%. A silent lament for the days when every trade was a celebration. 🎉

This remains a major challenge for the dog-themed meme coin. If investors’ interest fails to rekindle, the decline might linger like a stubborn fog. More worrisome is the SHIB deflationary burn mechanism, now sputtering with an 82% decline. A troubling sign for those hoping to see a resurgence. ⚠️

The open interest, a measure of the futures market’s enthusiasm, has dwindled by 17%, as if the market itself is holding its breath. A gloomy omen for the coin’s future. 🌑

Shiba Inu’s weekly gains persist

As U.Today reported, Shiba Inu appears to have gone back in time, trading at levels reminiscent of its preholiday structure. In 2025, the meme coin faced intense volatility, ultimately adding a zero to its value. A tale as old as time, isn’t it? 🕰️

The only support Shiba Inu has is that it hasn’t 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. A dream, perhaps, but a dream nonetheless. 🌙

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2026-01-08 19:57