Shiba Inu (SHIB) has experienced an 8% increase in open interest, signaling heightened speculative activity in its market. Recently, SHIB broke out of a lower timeframe channel, sparking short-lived bullish hopes. However, technical indicators have shown weakening momentum, with a descending triangle pattern emerging on its charts.
The memecoin’s price has been trading within a narrowing range near $0.0000146, consolidating below resistance levels at approximately $0.000017. This pattern suggests a potential 17% price move dependent on a breakout direction. A session close below $0.0000142 may signal a bearish trend reversal leading to a projected 9% decline toward mid-range support at about $0.0000129.
The liquidation heatmap supports a bearish outlook, showing a cluster of liquidity just beneath the current support, suggesting imminent price pressure. On the other hand, moving averages indicate some residual bullish momentum, adding to the uncertainty. As of late May 2025, SHIB’s gains in the year have been mild after earlier losses, and the market seems poised for a significant move as this technical setup resolves.