Crypto news

Will Shiba Inu’s Price Dance Back From the Abyss? Hold Your Breath!

BBG News

Ah, the Shiba Inu price—such a slippery character, as slippery as a gambler’s last hope in a St. Petersburg tavern! Down it has crept, a modest 4.4%, like a furtive shadow skulking beneath the dim light of a market cap that just refused to stay above the sacred $3 trillion threshold. Our traders—those restless souls—have taken their profits, abandoning ship as if the whole thing were a fragile house of cards, trembling under the slightest breath of wind. But hark! Two mysterious signs flicker in the gloom, suggesting that this pupper of a coin still dreams of scaling the icy pinnacle of $0.00002.

Shiba Inu’s Tepid Resistance Against the Tsunami

Now, Shiba Inu’s price languishes at $0.0000131, slumping a bit from its fleeting flirtation with $0.0000138—as if it had tasted the sweet nectar, only to recoil in horror at the bitter aftertaste. Yet within the chaos, two curious sentinels stand guard, bullish flags fluttering in the wind, whispering hope to those who dare listen.

The first beacon is none other than open interest, swelling like some grotesque phantom to $170 million, a specter’s appetite reaching its zenith in a weary month, per the grim chronicles of Coinglass. Derivative traders, like moths to a flame, are opening new positions, convinced this canine jest awaits a mighty leap, or at least a tumble worth sketching in the annals of meme coin history. Meanwhile, funding rates turn positive, a sign that long players outnumber shorts—an unholy alliance, or perhaps a collective madness? The crowd leans bullish, in any case.

Yet the drama deepens! On-chain data, that cruel oracle of truth, shows SHIB holders clinging to their tokens like monks clutching prayer beads in the face of a 4% descent. Exchange outflows outpace inflows, a subtle dance of reluctance and hope—the faithful prefer holding over selling, as if their hearts beat in sync with the erratic pulse of this curious token.

These twin harbingers—rising open interest and exchange flow whispers—suggest a tentative confidence. The Shiba Inu, battered but unbowed, might yet claw its way to that elusive $0.00002 altar.

The Double Bottom: A Dance of Despair and Hope

Behold, the double bottom! A dramatic pattern forming upon the daily chart—a grand tragedy or a comedy in two acts, depending on who watches. Confirmation awaits at the neckline of $0.000015. Should the selling frenzy tire, and the market’s fickle favor return, Shiba Inu might just burst through this threshold, igniting a rally as fervent as a Dostoevskian confession.

Envision this: a surge carrying SHIB to $0.000024, riding the wave of this double bottom’s promise. But (there’s always a but), the RSI must resume its climb—let it rise, like a hopeful soul reaching for redemption—signaling that bullish fervor refuses to surrender.

So here we stand, amidst rising interest and stubborn holders, the chart’s double bottom pattern orchestrating an uneasy symphony of hope. Will the buyers muster the courage to drive SHIB upwards, or will fate condemn this meme to eternal limbo? Grab your popcorn—but keep your wits, for in this cruel market, even a Shiba can howl in despair. 🐕💸

Powered by Pollinations.AI free text APIs. [Support our mission](https://pollinations.ai/redirect/kofi) to keep AI accessible for everyone.

Read More

2025-04-24 15:46

Previous post NaVi’s perfect playoffs run ends at the hands of Liquid at IEM Melbourne
Next post Italian Escape: Jackie ‘O’ and Her Lookalike Daughter Enjoy Luxurious Tuscany Break