Open Interest Surges 2% As SHIB Tests Triangle Breakout

• Shiba Inu trades at $0.00000785, consolidating below the 20 and 50-day EMAs as derivatives traders return with renewed interest.
• Open interest surges 2.11% to 10.85 trillion SHIB ($87.94 million), signaling speculative positioning after weeks of stagnant price action.
• An ascending triangle pattern on the 30-minute chart suggests a potential breakout, though burn rate decline of 34.44% reflects reduced network activity.

Shiba Inu price today trades near $0.00000785 as derivatives traders begin repositioning after weeks of sideways movement. Open interest has climbed while an ascending triangle pattern emerges on shorter timeframes, creating conditions for a potential breakout from the current range.

Open Interest Climbs As Traders Return

Derivatives data shows renewed speculative interest. Open interest has surged 2.11% to 10.85 trillion SHIB, equivalent to $87.94 million. The increase indicates that traders are opening new positions rather than sitting on the sidelines.

When OI rises during consolidation, it often precedes directional moves. Traders are placing bets on the next leg, and the buildup creates conditions for volatility once price breaks out of its range.

However, futures flows have turned negative over the past 12 hours with a net withdrawal of $251,000 from derivative contracts. The divergence between rising OI and declining flows suggests that positioning is shifting but conviction remains mixed.

Burn Rate Declines As Network Activity Slows

On-chain data from Shibburn shows the burn rate dropped 34.44% over the past 24 hours, with only 7.6 million SHIB sent to dead wallets. The decline reflects reduced network activity during the consolidation phase.

Total burnt supply stands at 410.75 trillion tokens from an initial max supply of nearly 1 quadrillion. Circulating supply sits at 585.4 trillion with 3.83 trillion staked as xSHIB.

Burns matter for long-term supply dynamics but rarely drive short-term price action. The reduced rate suggests that ecosystem activity has slowed during the correction, consistent with the broader market uncertainty.

Price Trapped Below EMA Cluster

On the daily chart, SHIB trades inside a descending channel that has contained price since the September highs near $0.0000145. Each rally attempt has failed at declining resistance while the series of lower lows continues.

Price sits below all four EMAs, confirming the bearish structure:

• Immediate resistance: $0.00000818 (20 EMA)
• Secondary resistance: $0.00000828 (50 EMA)
• Major resistance: $0.00000892 (100 EMA)
• SAR resistance: $0.00000917
• Trend resistance: $0.00001028 (200 EMA)
• Current support: $0.0000075
• Breakdown target: $0.0000065

The Parabolic SAR remains bearish at $0.00000917, sitting well above current price. Reclaiming this level would require a 16% rally and signal a significant shift in momentum.

Ascending Triangle Forms On Lower Timeframes

Shorter timeframes show a more constructive pattern developing. On the 30-minute chart, SHIB has formed an ascending triangle since the January 19 low. Price makes higher lows while resistance holds flat near $0.0000080.

RSI sits at 43.05, neutral but recovering from oversold conditions hit during the recent selloff. MACD shows a slight bullish bias with the histogram positive, suggesting short-term momentum favors buyers.

The triangle pattern typically resolves with breakouts in the direction of the prior trend, which would be bearish. However, ascending triangles can also mark reversal patterns when they form at the end of corrections.

A break above $0.0000080 would target the 20 EMA at $0.00000818. A break below $0.0000075 would confirm continuation lower toward $0.0000065.

Outlook: Will The Triangle Break Higher?

The setup presents conflicting signals. Rising OI suggests traders expect movement, but the macro structure remains bearish. The ascending triangle offers short-term opportunity, though the daily trend favors sellers.

• Bullish case: Price breaks above $0.0000080 triangle resistance and reclaims the 20 EMA at $0.00000818. A close above $0.0000083 targets the 100 EMA at $0.00000892.
• Bearish case: Triangle support at $0.0000075 fails, confirming the descending channel remains in control. A daily close below $0.0000075 targets $0.0000065 with potential extension toward $0.0000060.

Shiba Inu sits at a decision point between short-term recovery and trend continuation. The next 48 hours will determine whether rising OI translates into a breakout or another failed rally.