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Shiba Inu (SHIB), the dog-themed meme coin, recently flashed bullish signals, as indicated by its Bollinger Bands setup. The daily Bollinger Bands paint a picture of SHIB that may prompt investors to consider offloading their positions in the short term.
Shiba Inu eyes $0.000016
According to CoinMarketCap data, SHIB is currently trading at $0.0000141, up 1.25% over the past day. SHIB rallied as high as $0.0000143 earlier in the day before dropping to current levels.
On the weekly chart, the price is advancing toward the upper Bollinger Band, currently around $0.00001414 and $0.00001432. In previous cycles, SHIB has used this region as a launchpad for more rallies.
Currently, the Bollinger Bands are tightening, indicating reduced volatility that can support its current price outlook. With this, there is a high possibility of SHIB slipping back to the lower bands if profit-taking measures are implemented.
The projected upside would put the meme coin at around $0.000013, marking a major drawdown from the current level. However, if the price fails to fall as indicated, the $0.000015 level may be the next major target to watch.
Nonetheless, the Relative Strength Index (RSI) further strengthens the gloomy outlook. The RSI is at 53.25, indicating neutral momentum, with no immediate signs of overbought or oversold conditions.
SHIB benefits from Ethereum rally
The latest market rally has propelled Shiba Inu back into the top 20 cryptocurrencies by market capitalization. With a market cap of $8.36 billion, SHIB is closely behind Toncoin (TON), the 19th-largest cryptocurrency.
The recent rally on the Ethereum (ETH) market played a huge role in boosting the SHIB meme. ETH traded around $3,835 on Sunday, July 27, 2025, its highest level in over a year. Accordingly, money flowed back into Ethereum-based tokens, with SHIB one of the biggest in this category.
News about a major Shibarium upgrade may have also contributed to pushing the prices of the meme coin higher. This upgrade ensures that the needs of developers are centralized and more accessible.
Vladislav Sopov
U.Today Editorial Team