Shiba Inu (SHIB) is quietly building pressure inside a long-running descending channel, and last week's move higher grabbed attention across the market. $SHIB is trading near $0.000005105, do
Shiba Inu (SHIB) is quietly building pressure inside a long-running descending channel, and last week's move higher grabbed attention across the market.
$SHIB is trading near $0.000005105, down about 4.39% over the past day even as the broader structure hints at a possible shift.
For anyone watching this Shiba Inu price prediction, the setup is simple: $SHIB has tapped the top of its weekly channel, and a clean break from here could open room for a bigger move.
According to CoinGlass data, SHIB's open interest sits at $58.10M as of August 29, 2026, holding well above the $20-30M range it traded in through most of June and July.
On OKX, the SHIB long/short ratio reads 2.42, showing traders leaning long. Liquidation data over the past 24 hours shows $121.18K wiped out, with longs taking the bigger hit at $118.91K against just $2.27K in short liquidations.
OKX and Bitget currently lead $SHIB futures volume at $14.94M and $9.41M, respectively.
On performance, $SHIB is up 9.92% over the past 30 days but remains down 13.73% for the week and 59.71% over the past year.
As per CoinMarketCap data, Shiba Inu carries a market cap of around $3B against a circulating supply of 589.23T $SHIB out of a 589.55T max supply, with 24-hour volume at $72.22M.
On-chain data shows over 1.68M holders on Ethereum, though the top 100 wallets still control more than 82% of supply, a concentration level worth watching for anyone tracking this Shiba Inu price prediction.
Signal
What It Shows
Bullish
Weekly channel top tested, open interest climbing, long-heavy futures positioning
Bearish
7-day price down 13.73%; top 100 wallets hold over 82% of the supply.
Neutral
RSI near 46, sitting in a balanced, non-extreme zone
As per the TradingView chart, SHIB has been moving inside a descending channel on the weekly timeframe for well over a year, and price tested the upper boundary of that channel again last week.
A confirmed break above this structure would put the next levels SHIB can go toward in view: 0.00001007, then 0.00002417, and further out, 0.00003236.
The weekly RSI (14) reads 45.93, sitting in fairly neutral territory, neither overbought nor oversold, which leaves room for a move in either direction.
If the channel holds instead, the nearest support to watch sits at 0.00000417.
According to the CoinGabbar analyst desk, SHIB testing the top of a long-running descending channel alongside rising open interest is a combination worth tracking, though a single touch of resistance doesn't confirm a breakout on its own.
Traders following this Shiba Inu price prediction will likely watch whether SHIB can close above the channel on strong volume, since that's typically what separates a genuine trend shift from a temporary bounce.
Disclaimer: This article is for informational purposes only and should not be considered financial or investment advice. Cryptocurrency markets are highly volatile; readers are advised to do their own research before making any decisions.
