Analyst Sees Bullish Breakout Ahead for Shiba Inu, $0.00004 in Sight

Trader Mike on TradingView highlights historic Shiba Inu patterns, identifying key resistance and future liquidity targets for the token. Notably, Shiba Inu (SHIB) showed signs of mild volatility in its latest trading session, maintaining a narrow range between $0.00001333 and $0.0000138. Despite a slight intraday decline of 1.4%, SHIB remains up by 6.1% over the past week.  Amid this short-term decline, analysts continue to monitor price action closely, pointing to historical patterns and technical developments that could influence SHIB's next move.  Shiba Inu Historical Patterns  For instance, Trader Mike, a technical analyst and trader on TradingView, revisited SHIB’s historical price patterns to map out potential future moves. He highlighted the token’s major bull run from September 27 to October 25, 2021, during which SHIB surged from roughly $0.00000600 to $0.00008869. According to his analysis , this uptrend featured strong buying activity, represented by large candlesticks.

Following this peak, SHIB entered an extended bearish period lasting from November 1, 2021, to February 19, 2024. During this phase, the candlesticks became notably weaker, often displaying significant wicks, which Trader Mike interpreted as possible signs of market manipulation rather than purely organic selling pressure.  Importantly, he noted consistent buyer presence despite the overall decline. Building on this, he emphasized SHIB’s key resistance at $0.00003000, which he termed the "Trend Killer." Notably, SHIB has tested this level but has yet to achieve a clean break above it. Key Entry Points and Liquidity Targets Meanwhile, Trader Mike shared that he entered a SHIB position after a bullish daily candle close on April 9, 2025, when the token traded near $0.0000167.  From this position, he identified several projected liquidity zones, starting with a near-term target at $0.00004529, representing a 249% increase from his entry. Other critical targets include $0.00004595, $0.00005414, $0.00007526, and the $0.00008869 level last seen during the 2021 rally. Further Optimism in SHIB At the same time, further optimism emerged from another analyst known as Rose Premium Signals on X. This analyst observed that SHIB had broken out of a falling wedge pattern, a typical bullish signal.  https://twitter.com/VipRoseTr/status/1916858852949082157 Such breakouts often signal bullish reversals, and Rose Premium Signals identified potential price targets at $0.00001510, $0.00001850, $0.00002110, and $0.00002460 levels that would significantly exceed current prices. Futures Open Interest is Surging In addition to technical analysis, derivatives market data appears to reinforce the observed bullish signals. CoinGlass data shows that SHIB’s Futures Open Interest nearly doubled in April, rising from below $97 million to almost $190 million by April 27.

This surge in open interest occurred alongside SHIB’s price gains, often considered a positive sign. It typically indicates that new capital is entering the market through leveraged long positions.