by Coinstrooper Crypto Articles
Quick Take
  • Coinglass data shows open interest up 10% to $200 million, a level last seen during September’s rally.
  • Positioning is skewed bullish, with a long/short ratio of 1.17, suggesting 54% of traders are betting on further upside.
  • Still, it remains widely sidelined from major market narratives like TradFi.
  • Its open interest lags behind rival PEPE’s $600 million, underscoring the underdog position SHIB carries into the quarter.

What Happened

During the presale, users can buy nodes, stack digital rigs, and start generating rewards – even before the token officially launches.

Market Context

SHIB is reinforcing anticipation for an “Uptober” rally with back-to-back gains – strengthening bullish Shiba Inu price predictions as momentum continues to build.

Derivatives traders are leaning into the move. Coinglass data shows open interest up 10% to $200 million, a level last seen during September’s rally.

Still, it remains widely sidelined from major market narratives like TradFi. Its open interest lags behind rival PEPE’s $600 million, underscoring the underdog position SHIB carries into the quarter.

Shib Price Prediction: SHIB Could Be the Sleeper Pick

The key threshold for a Shiba Inu price breakout sits at $0.0000145, a stubborn resistance level that has capped upside since July.

But if Shiba Inu manages to claim a bigger share of the market narrative, particularly through new SEC listing standards qualifying it for spot ETPs, demand could expand dramatically.

The market is responding quickly. The presale has crossed $1.5 million, and early stakers can still secure a high 861% APY.

With the next price increase just hours away, waiting will only make it more costly to get started.

Why It Matters

Positioning is skewed bullish, with a long/short ratio of 1.17, suggesting 54% of traders are betting on further upside.

This early-month rebound affirms the lower boundary of a symmetrical triangle forming since May, now nearing its apex as momentum indicators flip bullish.

The RSI has reclaimed the neutral line, signaling buyers are driving the move.

The MACD histogram shows a similar potential trend shift, closing in on a golden cross above the signal line that could mark the start of a lasting mid-term uptrend.

In that case, the rally could extend toward $0.00005, a milestone that would represent a 300% gain.

Breakouts are rare for a large altcoin like Shiba Inu. And even still, a large move like a 4x hinges on catalysts that may or may not appear.

Details

The meme coin has reclaimed a key 5-month breakout setup from near invalidation, rising over 7% since the start of the month and showing no signs of slowing down.

A successful flip of this level into support would confirm the breakout, setting sights on $0.000025 for a potential 90% surge from current levels.

It Took SHIB 5 Months to Get Here – Here’s a More Strategic Play

PepeNode ($PEPENODE) lets holders build virtual mining rigs to earn meme coin rewards – making it the first mine-to-earn meme coin of its kind.

No expensive equipment, no technical setup needed. Mining is fully gamified, allowing anyone to get started with just a few clicks.

Built-in deflation strengthens the model. Every $PEPENODE spent building your mining setup triggers a 70% burn, creating long-term scarcity to boost returns.

Momentum is picking up fast. The presale has already surged past $1.5 million, while early adopters still have access to a powerful 861% APY through staking.

Join the $PEPENODE presale now on the official website to start mining.

To stay updated, you can also follow PepeNode on X (formerly Twitter).