SHIB is reinforcing anticipation for an “Uptober” rally with back-to-back gains – strengthening bullish Shiba Inu price predictions as momentum continues to build.
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.
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.
Shiba Inu open interest surges. Source: CoinGlass.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.
Shib Price Prediction: SHIB Could Be the Sleeper Pick
This early-month rebound affirms the lower boundary of a symmetrical triangle forming since May, now nearing its apex as momentum indicators flip bullish.
SHIB / USDT 1-day chart, symmetrical triangle sets focus on breakout move. Source: TradingView.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.
The key threshold for a Shiba Inu price breakout sits at $0.0000145, a stubborn resistance level that has capped upside since July.
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.
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.
In that case, the rally could extend toward $0.00005, a milestone that would represent a 300% gain.
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The post Shiba Inu Price Prediction: SHIB Flips Green on Uptober Day 1 – The Next Move Could Surprise Everyone appeared first on Cryptonews.
