Shiba Inu Soars 15% Amid Bullish Breakout Signals

Shiba Inu (SHIB), the popular meme-inspired cryptocurrency, is back in the spotlight after surging over 15% in the past 24 hours. The sharp move has sparked renewed enthusiasm across crypto markets and brought the token within reach of a potential 60% breakout, according to analysts.

Trading around $0.0000152 at press time, SHIB has recovered strongly from a recent support level near $0.00001148. This rebound has formed what some technical analysts, including pseudonymous trader Psydunuemus, describe as a classic “Cup and Handle” pattern on the weekly chart—a bullish formation often preceding significant price gains.

The top of the “cup” formation sits near $0.00001500, a level SHIB is now testing. A decisive break above this resistance could pave the way for a rally toward $0.00002215 in the short term, representing a 60% gain from current prices. If bullish momentum continues, targets as high as $0.00002724 in the coming month and $0.00003298 over the longer term are being floated by market watchers.

This price action has been tough on short sellers. Over the past 24 hours, approximately $2.2 million in SHIB positions were liquidated, with $1.8 million of that coming from traders betting the price would fall. The losses reflect a dramatic shift in sentiment as SHIB’s price climbs higher and bullish pressure mounts.

Further supporting the bullish narrative is a surge in open interest—active futures contracts in SHIB—up more than 25% in the same period. The increase points to growing trader interest and suggests that market participants are positioning for continued upside.

With Bitcoin and other altcoins also rallying, SHIB’s distinct momentum has reawakened the speculative spirit around meme coins. If current trends persist, Shiba Inu may once again prove its staying power in a market often dominated by fundamentals and volatility alike.