Shiba Inu has fallen below the middle line of the Bollinger Band on its daily chart, indicating a bearish trend for the popular meme coin. After a brief rally at the start of January, Shiba Inu's price momentum has waned, dropping 22% from its January 5 high of $0.00001009 to its current price of $0.0000078. The middle band, representing the 20-day simple moving average, is a critical indicator of short-term market trends. The recent decline suggests a potential continuation of the downtrend, with the next support level at the lower Bollinger Band around $0.0000073. Despite the bearish signals, a shift in broader market sentiment could still influence Shiba Inu's price trajectory. Investors are advised to monitor market conditions closely as the situation evolves.