Is Shiba Inu Set for a Trend Reversal? Key Bullish Patterns Emerge for SHIB

• SHIB open interest rises 2.03%, hitting 11.36T SHIB amid renewed trading activity.
• Stable price and exchange accumulation suggest possible bullish setup.
• IHS pattern on long-term chart hints at a trend reversal if breakout confirms.

Shiba Inu (SHIB) is showing early signs of renewed investor interest as open interest on the meme coin increased by 2.03%, reaching 11.36 trillion SHIB valued at approximately $158.65 million. The growth, based on CoinGlass data, follows a period of price volatility and aligns with technical chart patterns that indicate a possible trend reversal.

The rise in open interest corresponds with increased derivatives activity across major exchanges. Gate.io currently leads with 54.18% of the total open interest, equivalent to 6.68 trillion SHIB worth $85.97 million. Other exchanges include Bitget with 2.02 trillion SHIB ($26.03 million), OKX at 1.15 trillion SHIB ($14.86 million), and Bitunix with 958.22 million SHIB ($12.34 million).

This distribution shows that traders are actively aiming for potential upside. The increase in open contracts signals rising expectations of short-term or mid-term price movements, with participants capi…

The post Is Shiba Inu Set for a Trend Reversal? Key Bullish Patterns Emerge for SHIB appeared first on Coin Edition.