News 
May 9, 2025 
4 min. 
The beloved meme-inspired cryptocurrency, Shiba Inu (SHIB), is back in the spotlight as it posts an impressive 15% surge in just a single day. As a result, this latest upswing has reignited interest among traders and crypto enthusiasts alike.
At the same time, Bitcoin and several major altcoins are also climbing. However, SHIB is clearly leading the charge with a staggering 60% rally from its recent lows, marking a powerful comeback for the canine-themed token.
Shiba Inu (SHIB) Signals Bullish Momentum with Emerging Cup and Handle Pattern
Building on its upward trend, Shiba Inu (SHIB) is flashing strong bullish signals as it trades near $0.0000152, maintaining its 15% gain over the past 24 hours. According to a pseudonymous crypto analyst, SHIB appears to be forming a classic Cup and Handle pattern on the weekly chart. This is an established bullish formation that often precedes explosive price movements.
Notably, the meme coin recently rebounded from a critical support zone around $0.00001148, laying the groundwork for this bullish structure. Currently, the price is nearing the upper resistance of the “cup” at approximately $0.00001500, and traders are watching closely for a potential breakout.
The analyst predicts that if SHIB breaches this level, its next target could be $0.00002215, representing a potential 60% upside from current levels. Beyond that, momentum could drive the token to $0.00002724 within a matter of weeks. In the long term, if bullish sentiment persists, SHIB may even climb toward $0.00003298.
Short Sellers Squeezed as SHIB Rallies
Meanwhile, as Shiba Inu (SHIB) continues its ascent, traders who bet against the meme coin are facing steep losses. Over the past 24 hours, SHIB liquidations have totaled approximately $2.2 million, with short sellers absorbing the bulk of the damage. They lost around $1.8 million as prices moved sharply upward.
These forced liquidations suggest that many bearish traders misjudged SHIB’s momentum and were compelled to exit their positions at a loss.
Additionally, open interest in SHIB futures, which represents the total number of active derivative contracts, has climbed by more than 25%. This increase signals renewed bullish sentiment and growing participation in the asset. If this trend continues, SHIB could be poised to break through key resistance levels in the days ahead.
Conclusion
Shiba Inu’s recent price rally, technical breakout signals, and the increasing pressure on short sellers all point toward a renewed bullish momentum in the market. The formation of a Cup and Handle pattern, coupled with rising open interest, suggests growing confidence among traders and potential for further upside. While the broader crypto market is also showing strength, SHIB appears to be carving out a leadership role in this rally.
However, as with all volatile assets, investors should remain cautious and monitor key resistance levels and market sentiment closely. If momentum sustains, SHIB could be on track for a significant breakout, offering both opportunity and risk in the coming weeks.
