Shiba Inu (CRYPTO: SHIB) was sliding over 2% lower during Wednesday’s 24-hour trading session, in tandem with Dogecoin, which was dropping about 3%.

The Shiba Inu-themed cryptos have each seen decreasing volume since June 30, when Shiba Inu and Dogecoin experienced big bullish volume, which helped them to break up from bullish patterns.

Shiba Inu broke up that day from a falling channel pattern, which Benzinga pointed out was likely to happen two days prior. Shiba Inu’s decreasing volume, paired with slightly lower prices, suggests the stock’s experiencing a period of consolidation.

Volume is the total number of shares traded in a security within a specific period of time. It’s a momentum indicator used by technical traders to gauge overall interest and sentiment in a stock. Volume is also used as an indicator to confirm a trend or trend change.

When bullish trading volume increases, the share price of the stock usually moves higher whereas increasing bearish volume, when a stock is in a downtrend, usually pushes the price lower. In contrast, lower-than-average trading volume usually indicates consolidation, which results in the stock trading sideways.

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The Shiba Inu Chart: When Shiba Inu fell lower Wednesday on lower-than-average volume, the crypto bounced up from a support level at $0.00000738 and wicked from the area. If Shiba Inu closes the session above about $0.00000750, Shiba Inu will print a bullish hammer candlestick, which could indicate the local low has occurred and the crypto will bounce on Thursday.

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