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Ethereum Resists Major Correction, Targets $3K Breakout

Albert Brown
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Ethereum Resists Major Correction, Targets $3K Breakout

Ethereum is trading above $2,600 despite the Bitcoin dip. ETF inflows top $91 million as ETH eyes a breakout toward $3,000.

Despite a steep correction in Bitcoin, Ethereum continues to hold its ground above $2,600. As Ethereum’s price trend diverges from Bitcoin’s, the market is anticipating the start of a new altcoin season.

Ethereum Price Analysis

On the daily chart, Ethereum maintains a sideways trend, testing its upper ceiling near the 50% Fibonacci retracement level at $2,699. Currently, Ethereum is trading at $2,625 after a pullback of nearly 1.88% on Thursday.

Ethereum Price Chart
Ethereum Price Chart

As Ethereum hints at a potential range breakout, the Fibonacci levels indicate immediate resistance at the 61.8% level, close to the psychological barrier of $3,000.

Supporting the upside potential, the Supertrend indicator signals a continuing uptrend, while the RSI hovers near the overbought zone, suggesting strong bullish momentum.

On the downside, key support remains at the 38.2% Fibonacci level, around $2,395.

Institutional Support Grows for Ethereum

Amid the increasing likelihood of a bullish recovery, institutional support for Ethereum is growing. On May 29, Ethereum ETFs recorded a total daily net inflow of $91.93 million.

This marks the ninth consecutive day of positive inflows, bringing total net assets to $9.63 billion. On May 29, BlackRock led the inflows with $50.45 million, followed by Fidelity with $38.31 million.

Ethereum ETFs
Ethereum ETFs

Analyst Shares $3,000 Price Target

Sharing an optimistic outlook, Income Sharks recently tweeted about Ethereum’s strong upside potential. The analyst noted that a slight pullback was expected following the breakout of key resistance near $2,400.

As Ethereum fluctuates below the $2,700 level, the analyst maintains an upside target of $3,000, with a longer-term estimate extending to $4,000 as the bull run continues.

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Bullish Sentiment Holds in Derivatives Market

As Ethereum sustains the potential for a breakout, short-term volatility has triggered a spike in bearish sentiment within the derivatives market. Ethereum’s open interest is down 4.83% over the past 24 hours, reaching $35.59 billion.

In the same period, long liquidations surged to $94.23 million, significantly outweighing short liquidations of $17.08 million. Despite this large-scale unwinding of bullish positions, the funding rate remains elevated at 0.0083%.

Ethereum Derivatives
Ethereum Derivatives

French Footballing Giant PSG Becomes First Major Soccer Team to Own Bitcoin Treasury

Elendu Benedict
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French Footballing Giant PSG Becomes First Major Soccer Team to Own Bitcoin Treasury

The France-based prominent football team Paris Saint-Germain (PSG) has revealed that it holds Bitcoin in its balance sheet.

The club’s representative at the 2025 Bitcoin Conference in Las Vegas, Par Helgosson, discussed Bitcoin and its adoption of the emerging innovation. He disclosed that PSG became the largest player in the sports ecosystem to add Bitcoin to its balance sheet when it allocated a portion of its cash reserve to the premier asset last year.

Football Meets Bitcoin

While others are still studying Bitcoin, the French-based club took a giant leap in 2024 to buy Bitcoin and still holds the asset to date. Helgosson noted that PSG identified that Bitcoin is the next big thing and made a surprising decision to buy the pioneering cryptocurrency. However, he failed to highlight the actual amount.

PSG has a rich history in both its local league and on the global footballing stage. With 54 official trophies, it is the most decorated club in France, having won 13 Ligue 1 titles and the UEFA Cup. Meanwhile, PSG plays in the UEFA Champions League on Saturday, demonstrating its place as one of the top teams in the world at the moment.

Helgosson stressed that PSG is looking to extend its footballing success to the blockchain space. He noted that aside from buying Bitcoin, the club also launched the PSG Labs, a Bitcoin venture acceleration project that helps developers and builders “go to the market.”

“We will launch with you, we will list with you, we will raise with you,” Helgosson, who heads the PSG Labs, said.

Meanwhile, he described PSG as a lifestyle brand with a fan base of over 550 million individuals. Furthermore, over 80% of its supporters are under 34 years old, making it a club of the new generation. He suggested that this age density establishes the club as a valuable partner for building a global market base.

Furthermore, the PSG Lab head invited those seeking a publicity partner for their new and emerging projects to connect with him or attend a two-week PSG Club House event in Las Vegas, scheduled for June and July, where the Lab will be present.

PSG Further Dips Toes Into Crypto

Interestingly, PSG is not new in the blockchain space. In the past, it has demonstrated its openness to technological innovation through its blockchain-based offerings. 

One of its first blockchain activities dates back to 2018, when it launched its fan token and ran a validator node on the Chiliz blockchain. PSG also became the first major football club to launch its fan token on Socios.com, encouraging its tech-savvy fans to engage in web3 and crypto-related activities.

Meanwhile, PSG has Crypto.com and Bitpanda as exchange partners, securing multi-year deals with them earlier this year. It would periodically mint exclusive NFTs on the latter’s platform and receive sponsorship fees in CRO, Crypto.com’s utility token.

Bitcoin treasuries are becoming the norm among establishments lately, and PSG’s revelation adds to the buzz around the subject. Firms like GameStop, Rumble, and Trump Media recently adopted Bitcoin as their primary reserve asset, committing millions of dollars to BTC acquisitions.

Analyst Targets $910K for Bitcoin, Says This Time Won’t Be Different

Albert Brown
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Analyst Targets $910K for Bitcoin, Says This Time Won’t Be Different

Market watcher “Mister Crypto” highlights recurring Bitcoin cycles and insists that “this time won’t be different,” forecasting another parabolic surge.

Bitcoin’s price has declined to $105,235 today, marking a 2.99% drop over the past 24 hours and a 5.12% decrease over the past week. Despite these recent losses, analysts on social media continue to point to historical patterns that suggest a potential parabolic price rally ahead.

Bitcoin Historical Cycles and Parabolic Phases

Mister Crypto, an analyst on X, has presented a chart tracing Bitcoin’s price history, emphasizing recurring patterns such as rounded bottoms and ascending triangles. These formations have historically preceded parabolic rallies in all major cycles: 2013, 2017, and 2021.

In 2013, Bitcoin’s price began under $10 and, after consolidating within a rounded bottom and ascending triangle, surged past $1,000 in a parabolic move. A similar pattern occurred in 2017, where nearly three years of consolidation ended with a breakout that drove the price close to $20,000.

The 2021 cycle mirrored earlier ones but on a larger scale. Following almost four years of consolidation in a rounded base, Bitcoin broke out of an ascending triangle and rose parabolically to an all-time high near $70,000.

Mister Crypto argues that this cycle will follow the same path. His chart shows a comparable post-2021 consolidation, suggesting the breakout in 2025 that could lead to a parabolic surge, with price targets reaching as high as $910,000.

A rise from $105,235 to $910,000 would represent an approximate 765% increase.

Accumulation and Re-Accumulation Phases in BTC

Another analyst, Mags, shares a separate chart highlighting Bitcoin’s cyclical behavior. It illustrates an initial “first leg up” marking a transition from accumulation to bullish momentum, followed by a sideways re-accumulation phase.

This pattern has repeated in past cycles, notably from 2019 to 2021, and appears to be forming again from 2023 into 2024 and 2025.

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According to this model, the recent price action suggests completion of the re-accumulation phase, positioning Bitcoin to enter a full bull run characterized by rapid price gains. Mags highlights price targets ranging between $270,000 and $350,000, emphasizing the structured phases in Bitcoin’s price evolution.

Long-Term Holders Continue Unprecedented Accumulation

Data shows that long-term holders (LTHs) have increased their Bitcoin holdings by over 1.39 million BTC between March 3 and May 25, 2025. During this period, total LTH supply grew from 14,354,038 BTC to 15,739,438 BTC.

This trend contrasts with previous bull markets in 2013, 2017, and 2021, when long-term holders typically sold to realize gains. While there were brief dips in LTH supply in May 2024 and March 2025, the broader trend of accumulation remained intact.

Analysts note that experienced market participants appear reluctant to sell at current price levels. They warn that continued accumulation could constrain the available supply for new buyers, potentially impacting market liquidity.

Here’s Why XRP May Dethrone Ethereum in 2025

Abdulkarim Abdulwahab
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Here’s Why XRP May Dethrone Ethereum in 2025

The call for XRP to take the crown from Ethereum as the leading altcoin continues to gain traction.

A growing faction within the crypto community believes that Ethereum’s dominance in the altcoin market is nearing its end, and that XRP is poised to take its place. Prominent XRP community researcher SMQKE recently rekindled this discussion by presenting a case for why 2025 could mark the turning point.

One of the factors fueling this speculation is XRP’s stronger performance, especially compared to Ethereum’s recent underperformance relative to Bitcoin. For context, ETH is down over 30% against BTC this year. Meanwhile, XRP has only dropped 6% against the crypto firstborn within the same period.

Ethereum’s Struggles Are Catching Up

Ethereum has long held the top altcoin spot thanks to its first-mover advantage in smart contracts and decentralized applications. However, SMQKE argues that Ethereum’s technical shortcomings are beginning to outweigh its legacy position.

In particular, SMQKE pointed out Ethereum’s ongoing scalability issues, gas fees that soared as high as $200 per transaction in 2022, network congestion, and costly delays. These problems have persisted despite multiple upgrades.

These inefficiencies are reportedly driving developers and users toward faster, more cost-effective alternatives.

XRP Ledger as a Challenger

SMQKE identifies the XRP Ledger (XRPL) as the most promising contender for replacing Ethereum as the top altcoin. XRPL offers financial-grade reliability and global scalability, gaining attention for its superior technology and network efficiency.

Specifically, SMQKE cited a publication stating that XRPL’s automated market maker (AMM) model outpaces Ethereum-based AMMs in speed, scalability, and efficiency.

It also noted that projects are migrating to XRPL due to its lower fees and carbon-neutral footprint. Notably, new platforms and liquidity protocols are increasingly adopting XRPL for global payments and capital markets applications.

The paper further claimed that XRPL minimizes slippage and impermanent loss, outperforming Ethereum’s aging DeFi infrastructure.

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Paper SMQKE shared on X

Given XRPL’s highlighted advantages, SMQKE suggested that while Ethereum may have pioneered DeFi, its infrastructure is aging rapidly.

Harvard Engineer Also Predicts XRP Flippening

Meanwhile, Harvard-trained computer scientist Austin King, co-founder of Omni Foundation, has also expressed confidence that XRP could soon overtake Ethereum in market capitalization.

King argued that Ethereum is losing ground due to inflation, centralization, and a lack of clear development progress. He criticized Ethereum for abandoning its deflationary model by shifting activity to centralized Layer 2 networks.

In contrast, he praised XRP for its efficient architecture, deflationary characteristics, and clear use cases in tokenized assets and cross-border payments.

Other industry figures, such as attorney John Deaton, believe XRP could overtake Ethereum by the end of the year. According to Deaton, there’s significant Wall Street interest in XRP, as evidenced by more than 10 spot ETF applications submitted to the SEC.

Currently, XRP boasts a market cap of $128 billion and has surged 350% over the past year. If it reaches $6, up 175% from its current price of $2.18, it could surpass Ethereum’s $316 billion market cap.

Bitcoin Slips Below $106K: Rising MVRV and Derivatives Data Hint at Deeper Correction

Albert Brown
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Bitcoin Slips Below $106K: Rising MVRV and Derivatives Data Hint at Deeper Correction

Bitcoin has dropped below $106,000 after reaching a new all-time high of $112,000. A rising MVRV ratio and bearish derivatives data point to a potential retest of the $100,000 level.

Following a spectacular rally to $112,000 last week, Bitcoin has fallen below the $106,000 support zone. This sudden pullback increases the likelihood of a retest of the $100,000 psychological level, as the MVRV ratio approaches a critical resistance zone.

Bitcoin Price Analysis 

On the daily chart, Bitcoin shows a failure to sustain its uptrend above the $112,000 mark. It is currently down over 3% this week, trading at $105,679.

Bitcoin Price Chart
Bitcoin Price Chart

This move breaks below the 100% Fibonacci level at $106,184, confirmed by three consecutive bearish candles. Despite the short-term decline, the Supertrend indicator at $101,594 still suggests an ongoing uptrend.

However, the daily RSI has dropped sharply from the overbought region to nearly the midpoint, indicating a significant loss of bullish momentum. Consequently, technical indicators present mixed signals as volatility increases.

A breakdown below $106,184 opens the door to a steeper correction, with the next major support at the 78.6% Fibonacci level of $91,780. Nonetheless, multiple support zones may slow the bearish momentum.

The immediate support lies at the $100,000 psychological level, followed by a horizontal support level at $98,349.

Rising MVRV Ratio Warns Top Formation

According to IntoTheBlock, Bitcoin’s market value-to-realized value (MVRV) ratio has risen to 2.32. Historically, MVRV levels above 2.4 have preceded sharp corrections, as seen during the rallies in October 2021, March 2024, and November 2024.

With the ratio once again approaching this critical threshold, the probability of a corrective pullback has increased significantly.

Bitcoin MVRV
Bitcoin MVRV

Bearish Sentiment Surge in Derivatives Market

As the short-term pullback intensifies, the derivatives market shows a sharp increase in bearish sentiment. Long-to-short liquidations over the past 24 hours totaled $197.98 million, compared to just $12.78 million in short liquidations. This indicates a significant wipeout of bullish positions and a 3% drop in open interest to $24.83 billion.

Additionally, the long-to-short ratio has declined to 0.93 over the past 24 hours, reflecting growing bearish sentiment. The OI-weighted funding rate has also fallen sharply to 0.0034%, down from a recent high of 0.0068%, further confirming increased bearish pressure.

Altogether, derivatives data suggest a surge in negative sentiment, heightening the risk of a leverage-driven correction.

Bitcoin Derivatives
Bitcoin Derivatives

Shiba Inu Lead Developer Teases Major Reveal, Puts Finishing Touches on Project

Lele Jima
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Shiba Inu Lead Developer Teases Major Reveal, Puts Finishing Touches on Project

Shiba Inu ecosystem lead developer Shytoshi Kusam discusses his ongoing project, which will go live soon. 

Yesterday, Kusama updated his bio on X to reflect what he has been working on lately. The updated bio suggests that he is writing a final white paper exploring SHIB, AI, SHY, and their roles in this upcoming new age.

This indicates that Kusama is preparing a white paper that highlights how AI will integrate with the evolving Shiba Inu ecosystem. The document could also outline how Shiba Inu fits into the next phase of technological evolution driven by AI.

Popular community figure Kuro shared the recent updates to Kusama’s X profile, particularly his bio and location marker.

Shiba Inu Lead Highlights Lack of AI Discussions on Social Media 

In a follow-up X post, Kusama confirmed that it is now time to write the final whitepaper, which will lay out his extensive research and ideas on how AI and SHIB could interact. 

Kusama, who has not been very active on X recently, briefly checked in and found that little had changed since his last appearance. According to him, the absence of AI-related discussions in his feed suggests that many people are still unaware of the magnitude of the AI revolution.

Despite this lack of conversation, he suggested that executives at AI companies are already aware of its potential, well ahead of the public. Based on this insight, Kusama stated that these leaders can remain calm, knowing how the AI revolution is likely to unfold.

Is Kusama Leaving X for One Month?

In response to the lack of AI discourse on social media, Kusama said he would retreat to AI Web3’s futuristic VC zone, where he would continue working on the white paper.

Jokingly, Kusama suggested he would be back in one month. However, he quickly retracted the statement, noting that he could be back online as soon as today. It remains to be seen when Kusama will officially release the AI white paper.

Meanwhile, Shiba Inu has been exploring AI technology over the past few months and has already partnered with leading projects in the sector. In January, Shiba Inu’s ecosystem team partnered with Astra Nova to blend the crypto project with artificial intelligence-driven solutions. 

In the meantime, Kusama intends to elevate Shiba Inu’s AI vision as he puts the finishing touches on the white paper, which will detail how SHIB and SHY will interoperate with this emerging technology.

Expert Predicts Timeline for Dogecoin to Reach $2

Mark Brennan
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Expert Predicts Timeline for Dogecoin to Reach $2

A notable market analyst predicts a potential reversal for Dogecoin based on the meme coin’s buying zone but advises focusing on smaller price targets first.

Dogecoin (DOGE) has experienced a clear short-term decline, with its price falling from roughly $0.25 on May 23 to just above $0.20. Despite this downward trend, technical analysts on TradingView present insights suggesting a possible reversal and significant gains.

Consolidation Phase and Key Support Zones

The recent price action shows Dogecoin moving sideways within a defined range. According to a TradingView account labelled as Setupsfx_, this consolidation has made trading difficult, as the lack of a clear trend often results in uncertainty. The chart highlights phases such as distribution and accumulation, where selling pressure once dominated before buyers stepped in. 

Screenshot 2025 05 30T112955428
Dogecoin Price Prediction

The analyst points out a descending trendline dating back to March last year, as DOGE dropped from the $0.22 high at the time. This trendline repeatedly capped upward price attempts, including around $0.14 in July.

Meanwhile, between June and October 2024, Dogecoin underwent an accumulation phase, eventually breaking out to peak near $0.46 in December on the back of the Trump-induced market-wide rally. Following that peak, prices declined, with DOGE now reaching the previous accumulation zone around $0.12.

Currently, Dogecoin trades just above a buying zone between $0.16 and $0.20. This level aligns above the 2024 accumulation period. The analyst expects a possible minor dip into this zone before a significant rebound. This support range could serve as a foundation for future upward movement.

When Dogecoin Can Reach $2

In his analysis, the market watcher forecasts a potential Dogecoin price surge to $2 by the end of this year following a breakout. From the current price of around $0.20, DOGE would need to rise nearly 900% to claim $2.

However, the analyst advises caution, recommending traders focus on smaller, interim price targets. Reaching the $2 level may take several months or even years, according to the analyst. 

Cup and Handle Pattern Suggests Further Upside

In addition to Setupsfx_’s analysis, another TradingView contributor, Aram Salimi, identifies a long-term Cup and Handle pattern on Dogecoin’s chart. This formation began around May 2021, when DOGE traded above $0.70 before gradually declining to roughly $0.05 in late 2022 and early 2023. The rounded base of the cup formed during this period, signaling a slow recovery as prices rose again.

By early 2025, Dogecoin returned to the $0.22–$0.25 range, forming the right side of the cup. Recently, the handle—a slight pullback from resistance—has completed. Analysts often view this pattern as a consolidation phase before a breakout. The price now tests resistance near $0.25, supported by increasing trading volume.

According to Salimi’s projection, a breakout above $0.25 could push Dogecoin toward $0.45 and $0.50. Longer-term targets based on this formation reach as high as $2.50, suggesting potential for a substantial price surge if the pattern confirms.

From Holders to Governors: Shiba Inu Finally Launches ShibDAO

Elendu Benedict
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From Holders to Governors: Shiba Inu Finally Launches ShibDAO

Shiba Inu becomes the latest chain to adopt a fully decentralized governance regime, returning power and ownership to the Shiba Army.

The highly anticipated ShibDAO went live yesterday on the Shiba Inu ecosystem, marking a new regime of governance. The ecosystem’s official X account confirmed the debut, as the project transitions from a mere meme coin to having one of the most advanced decentralized autonomous organization (DAO) structures in Web3.

The governance shift follows the launch of the Bury 2.0 staking model. For context, this governance-focused upgrade enables users to stake SHIB, LEASH, BONE, and TREAT for voting escrow (VE) power, which is used to participate in decision-making within the Shiba Inu ecosystem.

Fully Decentralized Shiba Inu

The ecosystem’s X account indicated that the ShibDAO marked the end of power centralization on Shiba Inu. Notably, this gives the community the right not just to contribute, but to propose, vote for, and decide the ecosystem’s roadmap.

Essentially, the Shiba Army can vote on practically any move within the ecosystem, including Shibarium upgrades, metaverse mechanisms, token utility changes, and major partnerships. Holders of any of the aforementioned SHIB native tokens can also leverage the charity and community council to drive social impact and community-driven innovations.

Voting and Voting Weight

At the moment, the Bury 2.0 upgrade does not have an active staking reward. The ecosystem’s developers plan to release staking tokenomics in the future, which will ensure holders earn passive rewards while participating in Shiba Inu’s growth.

Upon successfully staking SHIB, LEASH, or BONE on ShibaSwap using the Bury function, holders earn veSHIB, representing their voting power. The ecosystem clarified that the weight of one’s vote relies not only on how much one stakes but also on the lock-in period.

For context, the longer you stake your tokens, the more weight your VE carries. This does not in any way circumvent the importance of large stakes but aims to reward belief in the ecosystem. Remarkably, community members can also delegate their power to someone else to act on their behalf and can revoke it at will.

Customized DAOs for Community Factions

Meanwhile, the new governance system also allows the launch of sub-DAOs for specific community members. Users can claim a Shib Name (SNS) and launch their DAOs for select groups of artists, gamers, developers, and community-centric projects.

Furthermore, each token’s DAO has specific functions in the ecosystem. SHIB DAO manages community initiatives and activities, BONE DAO is responsible for voting on Shibarium enhancements and developer suggestions, LEASH DAO handles governance-related conflicts, and TREAT DAO supports innovation and the creation of decentralized applications.

DAOs and Jurisdictions
DAOs and Jurisdictions

The ShibDAO launch is part of the Shiba Inu team’s efforts to establish the ecosystem as a household name in the Web3 space. Interestingly, the team has teased that bigger innovations are still in the pipeline.

US SEC Clarifies Certain Staking Activities on Proof of Stake Networks Are Not Securities

Mark Brennan
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US SEC Clarifies Certain Staking Activities on Proof of Stake Networks Are Not Securities

The U.S. Securities and Exchange Commission’s Division of Corporation Finance issued guidance clarifying that certain staking activities on proof-of-stake (PoS) networks do not fall under securities laws.

The Division stated on May 29 that participants engaging in specific protocol staking actions are exempt from registration requirements under the Securities Act. This announcement covers various staking models, including self-staking by node operators, self-custodial staking through third parties, and custodial staking where custodians act on behalf of asset owners.

Staking Rewards Considered Compensation for Network Services

The Division emphasized that staking rewards represent compensation paid to node operators for services provided to the network. These rewards do not equate to profits earned from entrepreneurial efforts or management roles. Consequently, such staking activities fall outside the scope of securities regulation.

Furthermore, the SEC clarified the role of custodians in these arrangements, noting that custodians act solely as agents. They do not influence decisions about when or how users’ funds are locked, reinforcing the view that custodial staking does not trigger securities law obligations.

Ancillary Services Classified as Administrative, Not Entrepreneurial

Beyond staking alone, the SEC also discussed associated services typically provided with staking, referring to them as administrative or ministerial tasks. These supplementary services involve protections against slashing, options for early withdrawal, varied reward timing, and pooling assets to satisfy minimum staking requirements.

The Division stated that these features do not alter the regulatory status of staking activities, as they do not constitute entrepreneurial efforts. This clarification follows a previous SEC position on proof-of-work mining, where certain mining activities were also deemed outside the purview of securities transactions.

Commissioner Crenshaw Disagrees with Guidance

Meanwhile, SEC Commissioner Caroline Crenshaw issued a dissenting statement. She criticized the guidance, arguing that exempting crypto staking activities from securities regulation conflicts with existing laws and court precedents.

Crenshaw referenced cases involving U.S. exchanges Kraken and Coinbase, as well as a dismissal related to Binance on the same day. According to her, the SEC’s approach generates uncertainty by blurring which laws the Commission intends to enforce in the crypto sector.

SEC’s Shifting Approach to Proof-of-Stake Assets

Notably, these developments reveal a significant shift in the SEC’s stance on crypto, particularly regarding Proof-of-Stake (PoS) assets, under the leadership of Chair Paul Atkins.

Historically, the SEC had taken a hardline position against centralized staking providers. A prominent example occurred in 2023 when the SEC’s scrutiny of Kraken’s staking services prompted many companies to cease operations within the United States due to the resulting legal uncertainties. The case against Kraken, along with ConsenSys and Cumberland, was, however, dismissed.

Notably, the former SEC Chair, Gary Gensler, adopted a broad and stringent interpretation of crypto assets. Gensler argued that a substantial majority of cryptocurrencies, especially those based on Proof-of-Stake mechanisms, should be classified as securities. His rationale centered on the Howey Test.

However, the recent approach marks a notable departure from previous regulatory actions.

Analyst Identifies Two Possible Paths for Shiba Inu Price: Which Will Prevail?

Albert Brown
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Analyst Identifies Two Possible Paths for Shiba Inu Price: Which Will Prevail?

An analyst outlines two price scenarios for Shiba Inu but favors the ascending path, noting strong support from the SHIB community for a rebound.

Shiba Inu (SHIB) has experienced a steady decline in its price over the past week. Today, SHIB trades near $0.0000134, marking a 7.17% drop in the last 24 hours and a 14.04% decline over seven days. 

Despite occasional minor rebounds, the overall trend remains bearish, reflecting ongoing challenges for the meme crypto. Consequently, an analyst is charting two case scenarios for SHIB price action.

TradingView analyst Aram Salimi highlighted Shiba Inu’s weekly chart, which shows a sustained downtrend since its all-time high around $0.000088 in late 2021. The price has repeatedly encountered a descending resistance line, which has connected several lower levels since 2021. Notably, this line has acted as a formidable barrier to upward momentum.

Screenshot 2025 05 30T093221612
Shiba Inu Price Prediction

This resistance line initially triggered strong reversals at critical points from the 2021 peak, with SHIB hitting a bottom at $0.00000483 in June 2023. The line was tested again in March 2024, near $0.0000453, and in December 2024, near $0.0000335.

In both cases, the Shiba Inu price failed to break through and pulled back afterward. These repeated rejections confirm the trendline’s significance as a ceiling preventing gains.

Meanwhile, the ascending support line, which began forming mid-2023, traces higher levels and has provided several bounce points. The line emerged on June 5, 2023, when SHIB hit $0.00000483 following its all-time high decline.

The price respected this support between late 2023 and early 2024, when it dipped to test it at $0.0000071 on January 1, 2024, and surged back to the descending resistance. The support line was tested again on August 5, 2024, at $0.0000108.

However, in early to mid-2025, SHIB broke below this ascending support, settling near a demand zone around $0.0000108. This zone has previously capped bearish moves in August 2024 and April 2025. 

Potential Case Scenarios

The analyst outlines two potential future paths: a bullish scenario and a bearish scenario. The bullish projection assumes that SHIB will successfully hold the $0.0000108 support, rebound, and eventually break through the long-term descending resistance line.

After overcoming this resistance, the price could continue rising, possibly reaching its previous all-time highs around $0.000088. SHIB surging from the current $0.0000134 to $0.00009 represents approximately a 571.6% increase.

Conversely, the bearish scenario suggests that if the 0.0000108 support level fails to hold, SHIB may fall further, targeting the next significant levels around $0.000009 and then down to $0.000004300. If it drops from $0.0000134 to $0.0000043, SHIB would fall approximately 67.91%.

However, the analyst suggests that the ascending path appears more likely, citing strong support from the Shiba community.

Mixed Sentiment and Increased Activity

Shiba Inu’s derivatives data show notable activity changes amid the price action. Trading volume has surged by 71.11%, reaching $227.26 million, signaling growing market interest.

However, open interest declined by 15.52% to $194.10 million, suggesting traders might be closing contracts or rotating positions. This reduction could also indicate a preparation phase for new moves.

Screenshot 2025 05 30T102430155
Shiba Inu Derivatives Data

Long/short ratios provide contrasting views across exchanges. Binance’s SHIB/USDT pair shows a ratio of 0.9168, with slightly more shorts than longs by account count.

Conversely, OKX reports a ratio of 2.19, indicating that longs outnumber shorts significantly on that platform. This disparity reflects differing trader behavior in various markets.

Meanwhile, liquidation data shows long positions account for most losses, with $1.4 million in long liquidations over 24 hours, compared to just $5,280 in shorts. These liquidations, often from weaker hands, may pave the way for stronger buyers. A positive funding rate of 0.0065 further indicates a bullish bias, as more traders hold long positions despite SHIB’s price decline.

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