Trader Mike on TradingView highlights historic Shiba Inu patterns, identifying key resistance and future liquidity targets for the token.
Notably, Shiba Inu (SHIB) showed signs of mild volatility in its latest trading session, maintaining a narrow range between $0.00001333 and $0.0000138. Despite a slight intraday decline of 1.4%, SHIB remains up by 6.1% over the past week.
Amid this short-term decline, analysts continue to monitor price action closely, pointing to historical patterns and technical developments that could influence SHIB’s next move.
Shiba Inu Historical Patterns
For instance, Trader Mike, a technical analyst and trader on TradingView, revisited SHIB’s historical price patterns to map out potential future moves.
He highlighted the token’s major bull run from September 27 to October 25, 2021, during which SHIB surged from roughly $0.00000600 to $0.00008869. According to his analysis, this uptrend featured strong buying activity, represented by large candlesticks.
Following this peak, SHIB entered an extended bearish period lasting from November 1, 2021, to February 19, 2024. During this phase, the candlesticks became notably weaker, often displaying significant wicks, which Trader Mike interpreted as possible signs of market manipulation rather than purely organic selling pressure.
Importantly, he noted consistent buyer presence despite the overall decline. Building on this, he emphasized SHIB’s key resistance at $0.00003000, which he termed the “Trend Killer.” Notably, SHIB has tested this level but has yet to achieve a clean break above it.
Key Entry Points and Liquidity Targets
Meanwhile, Trader Mike shared that he entered a SHIB position after a bullish daily candle close on April 9, 2025, when the token traded near $0.0000167.
From this position, he identified several projected liquidity zones, starting with a near-term target at $0.00004529, representing a 249% increase from his entry. Other critical targets include $0.00004595, $0.00005414, $0.00007526, and the $0.00008869 level last seen during the 2021 rally.
Further Optimism in SHIB
At the same time, further optimism emerged from another analyst known as Rose Premium Signals on X. This analyst observed that SHIB had broken out of a falling wedge pattern, a typical bullish signal.
#SHIB$Shiba Inu has broken through the descending channel on the daily chart🔍
Current price action suggests targets at $0.00001510, $0.00001850, $0.00002110 and $0.00002460 which could double current price😉 pic.twitter.com/evPvWcjXlN
— Rose Premium Signals 🌹 (@VipRoseTr) April 28, 2025
Such breakouts often signal bullish reversals, and Rose Premium Signals identified potential price targets at $0.00001510, $0.00001850, $0.00002110, and $0.00002460 levels that would significantly exceed current prices.
Futures Open Interest is Surging
In addition to technical analysis, derivatives market data appears to reinforce the observed bullish signals. CoinGlass data shows that SHIB’s Futures Open Interest nearly doubled in April, rising from below $97 million to almost $190 million by April 27.
This surge in open interest occurred alongside SHIB’s price gains, often considered a positive sign. It typically indicates that new capital is entering the market through leveraged long positions.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
