🚀SHIB price prediction: After outdoing PEPE, will Shiba Inu surge another 15%?

🐕 Shiba Inu Gains 15%

Shiba Inu (SHIB) climbed 15% since its low on July 12th, outperforming Pepe (PEPE) in the short term. On-chain metrics suggest more gains are likely.

📊 Bullish Signals for SHIB

A recent report highlighted SHIB’s short-term bullish metrics. On the 6-hour chart, SHIB closed above the range highs at $0.000017, signaling a buy. The Awesome Oscillator showed a bullish crossover, and the CMF has been above +0.04, indicating consistent buying pressure. The immediate bullish target is the $0.00002-$0.000021 supply zone.

📈 Higher Timeframe Trends

Despite the short-term gains, higher timeframe charts (daily and weekly) show SHIB has been in a gradual downtrend since April.

📉 Market Skepticism

While technical analysis indicates a bullish outlook for SHIB, Futures market data shows participants are wary. The Funding Rate remains negative, and Open Interest did not increase over the weekend. Short positions were liquidated late Sunday, which could fuel further price hikes.

🤔 FOMO Potential

Wider market disbelief might turn into FOMO if SHIB continues to climb. Traders should watch for potential strong bullish runs if momentum persists.