Shiba Inu Set to Explode? SHIB Price Could Skyrocket 17x as Open Interest Surges 43%!

Jakarta, Pintu News – The price of Shiba Inu may see a surge of up to 17 times, according to a prominent analyst and trader in the crypto market.

The analyst predicted that SHIB could surge all the way to $0.0002 once the meme coin enters the “buy zone”, which could be an early sign of increased demand.

Meanwhile, rising open interest and declining supply of SHIBs on the exchanges signal why this price spike is likely to happen in the near future.

Analysts Predict 17x Increase in Shiba Inu Price

According to popular crypto analyst CryptoELITES, the price of Shiba Inu is currently in a strong buy zone, indicating the potential for a significant upward movement in the near future. The analyst estimates that SHIB has the potential to increase between 14 to 17 times.

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If SHIB jumps 17 times from its current price of $0.0000123, the price could reach $0.00021. Meanwhile, if the increase is “only” 14 times, the SHIB price will be around $0.00018.

However, to support this bullish prediction, the price of Shiba Inu must be able to stay above the lower downtrend line as a support area.

Confirmation of the upward rally will occur if SHIB manages to break the resistance level at 0.618 Fibonacci, which is at $0.00003. Once this level is crossed, the path to $0.000085 will open up, and from there SHIB could potentially “remove one zero” from its current price.

If demand increases after SHIB enters the buy zone, the coin could experience supply pressure. Data from Santiment shows that the supply of SHIB on exchanges has plummeted to an all-time low.

High demand coupled with low supply reinforces bullish predictions for Shiba Inu prices, making all-time highs an increasingly real possibility.

Shiba Inu Open Interest Jumps 43% in Two Weeks

Data from Coinglass shows that open interest in Shiba Inu has increased by 43% in the last two weeks.

As of April 22, 2025, the open interest for this meme coin reached $135 million, up from around $94 million less than two weeks ago.

Such an increase in open interest indicates that futures traders are opening new positions on Shiba Inu, driven by optimism that SHIB will enter a strong upward trend. This is an additional factor supporting bullish predictions for Shiba Inu prices and reinforces the possibility of a 17-fold price surge.

However, increased leverage activity around SHIB may also lead to higher price volatility.

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In conclusion, the optimistic predictions from renowned analysts as well as the surge in open interest point to a potential price rally for this meme coin. However, this price rally will largely depend on how much buying interest SHIB manages to attract from the market.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Trading crypto carries high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• Coingape. Shiba Inu Price Sits in ‘Buy Zone’ Could 17X, Says Analyst. Accessed on April 23, 2025