ETH Gains Boost Altseason View; SHIB’s Bull Pattern Aims for $0.000081

• Shiba Inu (SHIB) shows bullish signals; analyst sees potential 503% surge ahead.
• An inverse head shoulders pattern targets $0.000081; open interest/volume rise.
• SHIB faces $0.0000145 resistance and historically bearish June performance.

Shiba Inu (SHIB) investors finally have a reason to be hopeful, as fresh signals in the market hint at a possible trend reversal. 

Despite dealing with recent market headwinds, some notable whale sell-offs, and general uncertainty, SHIB now appears to be gearing up for what some see as an explosive move. In fact, some analysts have predicted a 503% surge for SHIB in the coming months.

Inverse Head Shoulders Pattern Could Spark Breakout

At the center of this prediction is an inverse head and shoulders pattern currently forming on SHIB’s chart — a classic bullish indicator often seen before price rallies.

According to one crypto analyst, the token is in the final stages of this pattern, which could trigger a move towards an ambitious first target of $0.000081.

This bullish setup arrives as Ethereum (ETH) gains strength and hints at the early phases of an altcoin season, historically a period where meme coins like Shiba Inu tend to outperform.

Related: SHIB Price Holds Firm as Bulls Eye Breakout Above $0.00001300

Rising Open Interest and Trading Volume Support Bullish Case

Supporting this narrative is the latest derivatives data from CoinGlass, which reveals a shift in SHIB’s open interest. 

SHIB’s open interest, representing the total number of outstanding futures and options contracts, has increased by 2.03%, now accounting for 11.36 trillion SHIB valued at $158.65 million.

Trading Activity Surges

Despite these bullish signs, Shiba Inu continues to battle market volatility. The meme coin recently slipped to $0.00001265 but managed a slight recovery to $0.00001310 at press time, marking a 2.2% increase in the past 24 hours.

Interestingly, SHIB’s trading volume spiked by 16% to reach $160 million, signaling that traders remain actively engaged.

A Historically Bearish June for SHIB?

Historically, June has been a tough month for Shiba Inu. Since its inception, SHIB has consistently closed June with losses.

Related: Altcoin Market Stabilizes After Harsh Q1, Ethereum Leads Recovery Efforts

For SHIB to convincingly flip bullish, it must breach the critical resistance zone at $0.0000145. This level remains a crucial hurdle before any sustained upward momentum can take hold.