Is Shiba Inu About to Skyrocket 70%? Bullish Rebound Signals Flash as Open Interest Plunges!

Jakarta, Pintu News – The price of Shiba Inu (SHIB) saw another drop on June 18, as the overall crypto market continues to fall.

SHIB, which is the second largest meme coin, has plummeted by 35% from its highest peak in May.

However, now SHIB is slowly starting to form a rare double-bottom pattern – a technical pattern that often indicates a potential reversal in price direction. This coincides with a decrease in trading volume and open interest, which could be an early signal of a possible price recovery in the near future.

Technical Analysis of Shiba Inu Price Indicates Rebound Potential

The price of Shiba Inu (SHIB) was at $0.00001157, which is the lowest point since April 9.

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In the daily chart (18/6), it can be seen that SHIB prices have dropped below the 50-day and 100-day exponential moving average (EMA) lines, signaling that selling pressure (bearish) still dominates the market.

The Relative Strength Index (RSI) continues to decline and is approaching the oversold level of 30. The decline in RSI coupled with the rise in Average Directional Index (ADX) shows that SHIB’s downtrend is getting stronger.

As such, this pattern indicates that it is likely that SHIB prices will continue to weaken in the next few days.

But on the positive side, there are signs that SHIB is starting to form a double bottom pattern, with the lowest downside being around $0.00001030. This pattern resembles the letter “W” and usually signals that the asset has tested the support level twice before bouncing up.

Shiba Inu Price Prediction

Reporting from Coingape (6/18), in addition to these two price bases, this pattern also has aneckline, which in this case is at the level of $0.00001765.

Therefore, the most likely SHIB price prediction is a drop back to the $0.00001030 support, and then a rebound.

If this rebound occurs, the next price target to watch is $0.00001765 – about 70% higher than the double bottom level.

However, if the price drops past the $0.00001030 level, then the bullish view will be invalidated. This drop would signal a possible further decline, with the next level to watch being $0.0000080.

Decline in SHIB Open Interest Could Trigger Rebound

One potential trigger for the price movement of Shiba Inu (SHIB) is the decline in open interest in futures contracts in recent weeks.

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Data shows that SHIB open interest now stands at $134 million – the lowest level since April this year. It continues to fall after peaking at $272 million in April.

Futures open interest refers to the total number of futures contracts that are still open and have not been settled, closed, or delivered. A decrease in open interest generally reflects reduced investor interest in the asset.

However, in many cases, bullish breakouts often occur after the open interest has plummeted. Conversely, a downward reversal often occurs when the open interest spikes again.

Correspondingly, SHIB’s price has the potential to recover as its weighted funding rate has spiked in recent days. A positive funding rate indicates that investors have expectations that future prices will be higher than current prices.

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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:

• Coingape. Shiba Inu Price Signals 70% Rebound as Open Interest Crashes. Accessed on June 19, 2025