- Shiba Inu (SHIB) is currently experiencing a mild surge, hinting at a possible rebound.
- Technical indicators such as Bollinger Bands suggest a potential trend reversal for the meme coin.
- Shiba Inu’s community remains optimistic about the coin’s long-term potential, with large transactions being spotted recently.
Shiba Inu (SHIB) shows signs of a potential rebound with a mild surge and promising technical indicators. The coin’s community remains optimistic about its long-term potential.
Bollinger Bands hint at bullish Shiba Inu uptrend
This mild uptick is not Shiba Inu’s first attempt to form support at the $0.000023 price mark. Broader market forces have always worked to suppress the ultimate breakout potential of Shiba Inu; however, insights from the Bollinger Bands’ technical indicator show there might be a reboot coming soon. The SHIB/USDT one-day chart on TradingView shows that Shiba Inu has been trading from the oversold point since at least May 7. With the price trending around the lower Bollinger Bands to date, the possibility of a trend reversal is high.
Shiba Inu’s community remains optimistic
The mild break as the price shifts toward neutral-middle Bollinger Bands hints at promise, but it might be short-lived. Shiba Inu’s community, however, remains resolved about the longer-term end goals. With large transactions spotted in recent times, it becomes evidently possible for the brooding breakout to be recorded in the long term. Shiba Inu’s neutral Relative Strength Index (RSI) also visibly underscores the fair chance for SHIB bulls to regain control of the market.
All-time high (ATH) catalyst push
Shiba Inu attained an all-time high of $0.00008845 in October 2021 on pure hype. Today, the digital currency has reached an immense evolution that has transitioned it from a speculative hype meme coin to a protocol with growing use cases. The potential of Shibarium, its smart contracts platform, and its general market uptrend have what it takes to complement SHIB’s technical signals. In the near future, Shiba Inu might make an attempt to retest the ATH and potentially chart a new price milestone overall.
Conclusion
With promising technical indicators and a committed community, Shiba Inu shows potential for a rebound. The coin’s evolution from a meme coin to a protocol with growing use cases also suggests a promising future. As it stands, Shiba Inu might soon retest its all-time high and potentially chart a new price milestone.
