Shiba Inu Escapes Long Slump, Is it Signaling a 450% Surge?

▲ Shiba Inu (SHIB)/AI-generated image ©

Shiba Inu (SHIB), a representative meme coin that has been undergoing prolonged, boring consolidation, is drawing investors' attention as a radical technical forecast suggests it could surge by over 450%, surpassing Bitcoin and XRP (Ripple) in key derivatives indicators.

According to cryptocurrency media outlet Watcher.Guru on April 23 (local time), Shiba Inu has long been stuck in a slump around the $0.000005 level, failing to break out of its range-bound movement and causing anxiety among investors. While it currently shows a somewhat sluggish price trend, trading at $0.000006118, down 1% from 24 hours ago, strong momentum to overturn the market is reportedly accumulating beneath the surface.

The most striking positive signal was detected in the derivatives market. Shiba Inu's open interest surged by an impressive 13.45% in the last 24 hours, reaching $69.79 million. This pace surpasses the growth of Bitcoin and Ripple, the leading cryptocurrencies currently dominating the market, suggesting that speculative capital has begun to bet on Shiba Inu's massive volatility.

Along with this, a significant support level has been established on the chart. Shiba Inu has secured strong support near the 50-day simple moving average, laying a solid foundation for a new upward wave. Famous crypto analyst CapitalMarks diagnosed on his social media that a breakout from a falling wedge pattern, signaling a strong rally, is imminent on the Shiba Inu chart.

CapitalMarks recalled that Shiba Inu recorded an astonishing surge of 453% in the past when it broke out of a similar wedge pattern. He predicted that the current price is once again on the verge of a huge reaction, and if this breakout materializes, Shiba Inu could unleash extreme upside potential.

However, despite these rosy technical forecasts and intense speculative fervor, data analysis platform CoinCodex rated Shiba Inu's investment attractiveness as neutral for 2026, urging a cautious approach. CoinCodex pointed out that, considering various technical indicators, it might not be an attractive buying zone at present, recommending investors to thoroughly verify fundamentals such as on-chain activity and ecosystem development, not just past charts, before making purchase decisions.

*Disclaimer: This article is for investment reference only, and we are not responsible for investment losses based on it. The content should be interpreted for informational purposes only.*