Ethereum News Today: Shiba Inu SHIB Gains 1.25% as Bollinger Bands Tighten and Meme Coin Momentum Builds

Shiba Inu (SHIB) has demonstrated encouraging technical patterns in recent trading sessions, with Bollinger Bands narrowing to suggest reduced volatility and a possible impending price breakout. The cryptocurrency currently trades at $0.0000141, having increased by 1.25% over the past 24 hours, according to CoinMarketCap data. SHIB’s price movement has remained within a range defined by the upper and lower Bollinger Bands, oscillating between $0.0000141400 and $0.00001432. This consolidation phase is seen as a precursor to a more decisive price direction, either upward or downward [1].

The Relative Strength Index (RSI) for SHIB is currently at 53.25, indicating neutral momentum. This suggests that the market is in a state of equilibrium with neither strong buying nor selling pressure dominating at the moment. While this may delay a clear breakout, it also means the asset is not overbought or oversold, leaving room for either continuation or a short-term retracement [1].

SHIB’s resurgence in the cryptocurrency rankings has also drawn attention, as it has returned to the top 20 by market capitalization. It is currently ranked 14th, benefiting from the broader rally in the Ethereum (ETH) market. With ETH reaching a high of $3,835 on July 27—the highest level in over a year—investor interest in Ethereum-based tokens has grown, including SHIB [1].

Further boosting sentiment is the recent announcement of a major Shibarium upgrade. The Shiba Inu official portal revealed that the update aims to streamline developer access and enhance the ecosystem's usability. This development is expected to improve the token’s utility and potentially support its price in the short term, especially if the positive sentiment continues [1].

The SHIB price has also regained traction among traders who view it as part of the broader meme coin movement. Alongside tokens like Dogecoin, SHIB is experiencing renewed interest, with some meme-based assets, such as MEME, seeing price increases of nearly 30% in early August [1]. However, while the technical indicators are positive, analysts caution that the tightening Bollinger Bands could also lead to a downward breakout if bearish momentum gains control.

In response, traders are increasingly employing adaptive strategies such as Bollinger Band systems and regime detection models to monitor volatility shifts and price trends [2]. These tools help traders react quickly to evolving market conditions, offering more nuanced insights into potential price movements.

Despite the bullish indicators, SHIB’s future trajectory will depend on the balance between on-chain activity, macroeconomic factors, and investor behavior. For now, the signs are promising, but investors are urged to remain vigilant and adjust their positions as the market evolves.

Source: [1] Shiba Inu Shows Bullish Patterns as Bollinger Bands Tighten (https://cryptofrontnews.com/shiba-inu-shows-bullish-patterns-as-bollinger/)

[2] AI and Day Trading in 2025: Best Algorithms, Platforms & (https://thetradable.com/crypto/ai-and-day-trading-in-2025-best-algorithms-platforms-strategies)