Shiba Inu Escapes Long Swamp, Has it Fired the Signal for a 450% Surge?

▲ Shiba Inu (SHIB)/AI Generated Image ©

Shiba Inu (SHIB), a representative meme coin that has been consolidating for a long period, is attracting investors' attention as a groundbreaking technical outlook suggests it could surge by over 450%, surpassing Bitcoin and XRP (Ripple) in key derivatives indicators.

According to crypto media outlet Watcher.Guru on April 23 (local time), Shiba Inu has long been stuck in a swamp around the $0.000005 mark, failing to break out of its range and causing anxiety among investors. While it is currently showing a somewhat sluggish price movement, down 1% from 24 hours ago at $0.000006118, strong momentum appears to be accumulating beneath the surface to reverse the market trend.

The most notable positive signal was observed in the derivatives market. Shiba Inu's open interest surged by an impressive 13.45% in the last 24 hours, reaching $69.79 million. This rate of increase surpasses that of Bitcoin, the current leader in the cryptocurrency market, and Ripple, suggesting that speculative capital has begun to bet on Shiba Inu's significant volatility.

Along with this, a significant support level has been established on the chart. Shiba Inu secured strong support near the 50-day simple moving average, laying a solid foundation for a new upward wave. Famous crypto analyst Capital Marks diagnosed on his social media that a breakout from a falling wedge pattern, signaling a strong surge, is imminent on the Shiba Inu chart.

Capital Marks recalled that in the past, when Shiba Inu broke out of a similar wedge pattern, it recorded an astonishing surge of 453%. He predicted that the current price is once again on the verge of a massive reaction, and if this breakout materializes, Shiba Inu could unleash extreme upward potential.

However, despite these rosy technical prospects and intense speculative enthusiasm, data analysis platform CoinCodex rated Shiba Inu's investment attractiveness as neutral for 2026, advising a cautious approach. CoinCodex pointed out that, based on a comprehensive analysis of various technical indicators, the current period might not be an attractive buying zone. It recommended that investors thoroughly verify fundamentals such as on-chain activity and ecosystem development, not just past charts, before making a purchase decision.

*Disclaimer: This article is for investment reference only, and we are not responsible for investment losses based on it. The content should be interpreted for informational purposes only.*