The cryptocurrency market continues to consolidate, but Shiba Inu holders remain optimistic, hoping for a price breakout.
Shiba Inu Open Interest and Renewed Confidence
According to CoinGlass data, SHIB's open interest increased by 8.9% in the past 24 hours, indicating growing investor interest. Currently, holders have opened 9.18 trillion SHIB in derivatives contracts. SHIB's current price is $0.00001280, up by 1.23% over the last day.
Could SHIB Rise by 63%?
Gate.io leads in open contracts with 6.76 trillion SHIB. Analysts predict a potential 63% breakout based on indicators pointing to oversold conditions or imminent price reversals.
Analysis and Expert Opinions
Experts believe price stability and burn mechanisms could aid SHIB's recovery. The coming days will be pivotal for the coin's future trajectory.
Investors are closely monitoring Shiba Inu's dynamics, anticipating potential price breakthroughs. Upcoming developments may determine the future course of the meme coin.
