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.
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.
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.
