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Coin Edition 2025-06-03 19:15:00

Is Shiba Inu Set for a Trend Reversal? Key Bullish Patterns Emerge for SHIB

Is Shiba Inu Set for a Trend Reversal? Key Bullish Patterns Emerge for SHIB

SHIB open interest rises 2.03%, hitting 11.36T SHIB amid renewed trading activity. Stable price and exchange accumulation suggest possible bullish setup. IHS pattern on long-term chart hints at a trend reversal if breakout confirms. Shiba Inu (SHIB) is showing early signs of renewed investor interest as open interest on the meme coin increased by 2.03%, reaching 11.36 trillion SHIB valued at approximately $158.65 million. The growth, based on CoinGlass data , follows a period of price volatility and aligns with technical chart patterns that indicate a possible trend reversal. The rise in open interest corresponds with increased derivatives activity across major exchanges. Gate.io currently leads with 54.18% of the total open interest, equivalent to 6.68 trillion SHIB worth $85.97 million. Other exchanges include Bitget with 2.02 trillion SHIB ($26.03 million), OKX at 1.15 trillion SHIB ($14.86 million), and Bitunix with 958.22 million SHIB ($12.34 million). This distribution shows that traders are actively aiming for potential upside. The increase in open contracts signals rising expectations of short-term or mid-term price movements, with participants capi… The post Is Shiba Inu Set for a Trend Reversal? Key Bullish Patterns Emerge for SHIB appeared first on Coin Edition .

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