- Shiba Inu is testing resistance — price might go much higher.
- Charts show signs SHIB could rise soon from current levels.
- More traders are betting on SHIB — interest is growing fast.
The crypto market is heating up again, with Bitcoin climbing close to $95,000 and hinting at a possible breakout. While Bitcoin grabs the headlines, Shiba Inu (SHIB) is also gearing up for a price move of its own.
Over the last few days, Shiba Inu has been testing the $0.00001500 resistance level. If it manages to break past this, the next targets could be around $0.00001700 to $0.00001800. If Bitcoin keeps rising, SHIB could follow with a strong rally.
Chart Breakout and Key Price Levels
According to one analyst, Shiba Inu has broken out of a descending channel on its daily chart — a positive signal for traders.
The current price action now points to possible targets at $0.00001510, $0.00001850, $0.00002110, and $0.00002460. This means SHIB’s price could potentially double from its current level if momentum picks up.
The bullish divergence has appeared on both the RSI and MACD indicators, which means buying momentum is quietly building up, even though prices recently made new lows.
Related: Meme Coins Surge: Can Dogecoin and Shiba Inu Hit New Highs in Upcoming Weeks?
SHIB Futures Open Interest Nearly Doubles in April
Fresh data from CoinGlass shows that SHIB’s Futures Open Interest almost doubled in April — rising from under $97 million to nearly $190 million by April 27.
This sharp increase in Open Interest reflects growing positioning by traders, a signal that market participants expect a big move soon.
Memecoin Market Still Down From Peak But Could Bounce With BTC
At its peak in 2021, the total value of all memecoins reached around $130 billion. Today, that figure has dropped to about $58 billion, with Shiba Inu still sitting 84% below its all-time high.
However, this decline wasn’t because of Shiba Inu’s failure — it was part of a broader crypto market pullback, especially after many retail investors left the market in late 2024.
Now, with Bitcoin making a comeback, there’s a chance money could start flowing back into memecoins. In past rallies, retail traders often skipped Bitcoin and Ethereum and went straight for popular tokens like SHIB, DOGE, and PEPE. If history repeats itself, Shiba Inu could climb quickly once again.
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