Shiba Inu Eyes $0.000017 as Traders Bet on Triangle Breakout

Dogecoin’s cheeky rival flashes bullish signals—but can it dodge the crypto hype cycle?

Technical traders are circling Shiba Inu like wolves around a meme bonfire. The token’s recent consolidation pattern hints at a potential breakout toward $0.000017, triggering fresh FOMO among retail bagholders. Never mind that most ‘triangle breakouts’ end up as liquidity traps—this is crypto, where hopium burns brighter than fundamentals.

Meanwhile, institutional investors continue ignoring SHIB entirely—probably too busy actually making money elsewhere.

Shiba Inu price chart Currently, Shiba Inu appears to be rebounding from the lower support, recording a price surge of nearly 4% over the past 12 hours. As SHIB trends higher, price action analysis points to a potential challenge of the overhead resistance trendline. Supporting the bullish outlook, the MACD and signal lines have recently completed a positive crossover. As both lines trend upward toward the centerline, the bullish divergence in the MACD supports the case for continued upward movement. Additionally, the RSI has risen above the midpoint, indicating increasing bullish momentum. The 50% Fibonacci retracement level at $0.00001551 serves as the immediate resistance in the event of a breakout. In a bullish scenario, a continuation could push SHIB toward the $0.00001708 peak, aligning with the 100% Fibonacci level. Conversely, failure to break above the resistance trendline may result in a retest of the $0.00001393 support level. If a breakdown occurs, the next immediate support lies at the May 6 low of $0.00001230. SHIB Derivatives Signal Upside Potential Despite prolonged consolidation within the triangle pattern, a recent surge in bullish sentiment in the derivatives market signals growing anticipation of a breakout rally. Open interest in Shiba Inu has increased by 2.81%, reaching $230 million, reflecting rising trader participation.

SHIB Derivatives Furthermore, the funding rate has risen to 0.0098% from previously negative levels, indicating a notable increase in bullish intent. However, the long-to-short ratio over the past 24 hours shows a slight bearish dominance, currently standing at 0.9577.