Shiba Inu (SHIB) has been showing signs of recovery, with futures traders committing over 9 trillion SHIB. As its price consolidates, confidence is rising, and experts predict a potential breakout. But will it last? Let’s dive into the details.

- Open Interest Surge: SHIB's open interest has increased by 8.9% in the past 24 hours, signaling growing optimism among traders.

- 9.33 Trillion SHIB Committed: Futures traders have opened 9.18 trillion SHIB, worth around $117.82 million in outstanding contracts.

- Price Increase: SHIB's price rose by 1.23%, reaching $0.00001280, showing resilience despite recent market pressure.

- Key Support Break: SHIB recently breached the $0.000010 support level but quickly recovered, raising hope for sustained gains.

- Possible 63% Breakout: Analysts foresee a 63% potential breakout, based on Bollinger Bands, hinting at either an oversold condition or an impending reversal.

- Exchange Activity: Gate.io dominates with 73.47% of SHIB’s open interest, followed by exchanges like OKX and Bitget.

With growing confidence and a promising potential breakout, SHIB’s recovery could be on the horizon. Whether the meme coin will continue to rise or face setbacks depends on its ability to stabilize and sustain momentum in the coming days.
https://coinpedia.org/price-prediction/shiba-inu-price-prediction/