$SHIB | Technical consolidation: possibility of explosive movement
The Bollinger Bands on the weekly SHIB chart are at their narrowest point since February 2024. Typically, this compression indicates that energy is accumulating for a significant price movement, whether upward or downward.
What does this mean?
The record burn rate shows strong commitment from the community to reduce supply, which may support the price if it persists.
However, the prolonged downward trend suggests that the market is still looking for strong buying forces.
The compression of the Bollinger Bands indicates that a volatile movement may be imminent. The direction will depend on volume signals, news, or external catalysts.
