Shiba Inu Price Poised for 70% Surge as “Cup and Handle” Pattern Signals Major Breakout

Jakarta, Pintu News – In the past few days, the price of Shiba Inu (SHIB) has been stable but trending downwards as large numbers of whales have been selling.

The Shiba Inu price is now at $0.00001410, down 20% from its peak this month, signaling the entry into a local bear market. This drop coincides with a decline in interest in the spot and futures markets.

Shiba Inu’s trading volume in the last 24 hours (5/30) was $200 million, much lower compared to other popular meme coins such as Dogecoin (DOGE), Pepe Coin (PEPE), and Bonk (BONK).

SHIB Market Analysis and Whale Positioning

According to Crypto News (5/30), additional data showed that open interest in the futures market for Shiba Inu was $238 million, down from this month’s peak of $272 million.

Read also: Potential Dogecoin (DOGE) Price Explosion to $1, Check out the Supporting Factors!

In contrast, open interest for Pepe Coin reached a record high of almost $700 million, while Dogecoin reached $2.6 billion. Large and savvy investors have reduced their SHIB holdings this year.

According to data from Nansen, smart investors now hold 13.29 billion SHIB tokens as of May 29, down from 14.54 billion in April. Whale holdings also decreased to 96 billion coins, from a monthly peak of 100 billion.

Shiba Inu Burn Rate Decrease

Shiba Inu’s burn rate also showed a decline, with the latest 24-hour figure down 28% to 13.1 million. SHIB’s biggest burn this week occurred on Monday, when a user wiped out 23 million coins.

This decline indicates less activity in an effort to reduce the number of SHIBs in circulation, which could affect long-term prices.

Shiba Inu Price Pattern and Upside Potential

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Despite the drop in activity and interest, Shiba Inu’s current price pattern shows potential for an upswing. The coin has formed a bullish pennant pattern, which consists of a vertical rise followed by a symmetrical triangle whose trend lines are approaching. This pattern signals a potential bullish breakout.

The triangular part of the pennant is also part of the handle in the larger cup-and-handle pattern, which is 40% deep.

Based on this structure, SHIB could surge towards $0.00002443, the January high, which would mean a 70% increase from current levels. A drop below the support at $0.00001228 would invalidate the bullish outlook.

Overall, despite facing some challenges, the Shiba Inu’s price pattern suggests that there is significant upside potential. Investors and market watchers should take note of these indicators to make informed investment decisions.

The expected increase could be a watershed moment for SHIB holders in optimizing their returns.

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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. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• Crypto News. Shiba Inu Price: Cup and Handle Points to a 70% Surge. Accessed on May 30, 2025