Key Insights:
- Shiba Inu (SHIB) price inches closer to a major breakout as inverse head and shoulders pattern nears completion.
- Bullish momentum builds with MACD crossover and RSI climbing above 50 threshold.
- All eyes on $0.00001551 resistance as SHIB price tests triangle ceiling with rising trader interest.
Shiba Inu price is forming a long-term inverse head and shoulders pattern, according to analyst Javon Marks. The first dip occurred in mid-2022, followed by a deeper drop in late 2022 to early 2023, with a potential third dip expected in early 2025.
Shiba Inu Price Inverse Head and Shoulders Pattern Nearing Completion
Analyst Javon Marks has identified a long-term inverse head and shoulders pattern on Shiba Inu price. The first dip formed in mid-2022. The second, and deepest, occurred in late 2022 to early 2023, while the third has developed from late 2023 and continues into 2025.
After each depressing form, the market recovers partially, a common occurrence for such reversal patterns.
The neckline resistance level, drawn at the top of the pattern, has been tested on several occasions. A rise above the neckline in Marks’ analysis may cause Shiba Inu price to reach a target of $0.00008871.
The height of the pattern is measured from the head to the neckline. This distance is then projected upward from the breakout point to estimate the target price.
Analysis Signals SHIB Price Reversal and $0.00004 Target
Additionally, the analysis chart by @Whale_Guru indicates the daily (1D) candlestick view of SHIB/USDT on Binance.
Shiba Inu price is currently trading above $0.00001276, and holding its ground after a sustained decline. Prices stabilizing and forming a foundation above support levels could be early signs of a reversal.
The analyst’s chart includes a large upward arrow, suggesting traders are targeting $0.00004 in the coming days. This bullish setup follows a period of falling prices and reduced volatility. A descending triangle has formed, which often precedes a breakout.
SHIB Price Approaches Significant Resistance
Additionally, the descending triangle on the 4-hour chart shows support at $0.00001393. Lower highs since May 12, 2025, form the descending resistance line.
Shiba Inu price is now moving toward this upper boundary after a recent bounce from support. The key resistance level to watch is $0.00001551, which aligns with the 50% Fibonacci retracement.
In addition, the $0.00001625 level is being tested by buyers. High buying pressure might boost Shiba Inu price as high as $0.00001708 and possibly put it at the top of the biggest pattern.
More traders are being drawn to the derivatives market. Traders have raised open interest by 2.81%, which currently stands at over $230 million. The current funding rate of 0.0098% shows that there is more demand for positions that are long than short.
There is more money being put into short bets on the altcoin than into long bets on it. However, increasing open interest and a positive funding rate suggest people are getting more upbeat.
A rise above $0.00001551, accompanied by high volume, could indicate that the price will go up to $0.00008871.
Derivatives Activity Shows Rising Market Participation
Shiba Inu price is now more closely analyzed in derivative markets. Open interest increased by 2.81% to about $230 million.
A funding rate of 0.0098% at the moment suggests that interest in long positions is rising and the mood in the market is changing.
Consequently, the number of investors shorting the market still outnumbers those investing long-term.
Even so, both open interest and positive funding indicate some expected market prices will go up. A surge beyond $0.00001551 with a high volume trend might pull SHIB price to its neckline target.