Volatility in shiba inu's (SHIB) dollar-denominated price has plummeted, while the token continues to lose ground against its peer, dogecoin (DOGE).

SHIB's 90-day realized volatility has dropped to an annualized 64%, the lowest since December 2023, according to data source TradingView. Realized volatility measures how much an asset’s price has actually fluctuated over a specific past period. In other words, it quantifies the price swings that have already happened, giving a view of historical price turbulence.

Since May, the cryptocurrency has entered a narrowing price range, characterized by converging trendlines that connect lower highs and higher lows. The direction in which the range eventually resolves will likely set the tone for the next big move.

In the past 24 hours, SHIB's dol

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