Shiba Inu is attracting renewed interest from market analysts as technical indicators point toward a potential upward breakout . Despite a minor intraday decline of 1.37%, the token has remained within a tight price range of $0.00001333 to $0.00001380. Review of Historical Price Behavior Technical analyst Trader Mike, known for his work on TradingView, has conducted a detailed assessment of SHIB’s historical price action. He focused on the significant rally between late September and late October 2021, during which SHIB rose sharply from around $0.00000600 to just below $0.000089. This bullish surge, he noted, was supported by sustained buyer activity and large candlestick formations. Following this peak, SHIB experienced a lengthy decline beginning in November 2021 and continuing until February 2024. During this period, candlesticks showed weaker bodies and frequent long wicks, which Mike interprets as potential evidence of unnatural market influence. Despite the downturn, he observed consistent underlying buying interest, indicating ongoing investor engagement. A key resistance level was identified at $0.00003000, which he believes must be decisively surpassed for any sustained bullish trend to continue. SHIB has approached this threshold multiple times without a successful breakout. Current Positioning and Price Targets Trader Mike disclosed that he entered a SHIB trade on April 9, 2025, after a bullish daily candle closed near the $0.0000167 mark. Based on technical projections, he has outlined several liquidity zones and upside targets. His primary short-term target is $0.00004529, which would represent a 249% increase from his entry point. Additional levels of interest include $0.00004595, $0.00005414, $0.00007526, and a return to the historical high of $0.00008869. We are on twitter, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) July 15, 2023 Adding to the positive sentiment, another market analyst known as Rose Premium Signals on X pointed to a breakout from a falling wedge pattern, a setup generally considered to precede upward price moves. This analyst projected near-term targets at $0.00001510, $0.00001850, $0.00002110, and $0.00002460, each significantly above SHIB’s current value. Derivatives Market Signals Growing Interest Supporting this technical outlook is a notable increase in SHIB-related derivatives activity. According to CoinGlass data, SHIB’s futures open interest nearly doubled in April 2025, climbing from less than $97 million to nearly $190 million by the 27th of the month. This surge in open interest often reflects growing confidence from traders opening leveraged long positions, suggesting that capital is increasingly flowing into the SHIB market. While SHIB continues to trade within a relatively stable range, technical patterns and derivatives data indicate growing optimism about the token’s future trajectory. Analysts remain focused on whether SHIB can break through established resistance levels and initiate a sustained upward trend in the coming weeks. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on Twitter , Facebook , Telegram , and Google News The post Shiba Inu (SHIB) Price Set to Explode. Analyst Sets Bullish Target appeared first on Times Tabloid .
