The price of the popular cryptocurrency inspired by memes Shiba Inu (SHIB) It could be on the verge of amazing price action in the coming weeks. In particular, as the Bollinger Bands indicator on the weekly SHIB price chart indicates, the asset price has found support at an intermediate level, despite the painful sell-off witnessed yesterday.

Bollinger Bands, a widely used technical analysis tool, consist of three lines: the upper band, the middle band based on a 20-day moving average, and the lower band that defines two standard deviations away from this average. This tool, developed by John Bollinger, is appreciated for its ability to track price trends and help interpret potential future movements.

The problem is that while... Shiba Inu symbol If the price continues above this point, an upward bias prevails. In the context of Bollinger Bands, this would mean testing the seller's reaction at the upper curve, which currently extends at $0.00003191, which is 50% above the current level.

If the Shiba Inu token price loses this support, a drop to $0.00001075 becomes the main scenario, and this risks the same 50% move for SHIB, but in this case to the downside.

Thus, regarding the future of the Shiba Inu Token, there are actually two equal possibilities, either a 50% rally or a dump by the same margin.

Taking into account that the period from January to March is considered the most prosperous for the cryptocurrency market, as derived from the price history, and the fact that Gray If the pair remains strong above the crucial price point, it is safe to say that the previous scenario is more likely at the moment.