Shiba Inu Price Surge: Is SHIB Ready for a Make-or-Break Moment?

The Shiba Inu (SHIB) rose up 7,000,000% in 2021 to become the “Dogecoin killer.” The Shiba Inu price prediction lured in investors from around the world, as the possibility of SHIB beating Dogecoin and taking its place as the current champ among meme coins was a cool story. It had a good story. Its visibility of SHIB across more than 110 exchanges and over over 212 trading pairs gave it unmatched access. Today, however, the story has changed.

Despite its strong community, the Shiba Inu price today is more than 80% below its all-time high. The token, while still popular, struggles to recapture the explosive momentum of 2021. Now, as investors brace for what could be another bull run, the crucial question arises again: Is Shiba Inu a good investment?

DOGE Gains ETF Momentum, SHIB Left Out

In this emerging bull market, crypto ETFs are a key narrative. Bitcoin and Ethereum have already secured approvals, and now attention has shifted to altcoins. Dogecoin is front and center, with ETF filings from giants like Grayscale, Bitwise, and 21Shares. Grayscale’s Dogecoin ETF is even expected to receive a decision by May 21.

On the other hand, SHIB remains absent from the ETF race. Despite a vocal community and promotional efforts from its marketing head, Lucie, no official ETF filing for Shiba Inu exists. Lucie emphasized SHIB’s accessibility and global adoption, but these merits have yet to sway regulators.

The lack of institutional interest is likely impacting Shiba Inu price resistance. Without ETF-driven enthusiasm, SHIB has struggled to overcome crucial Shiba Inu price resistance levels. These levels now act as formidable barriers, making it difficult for any sustained price breakout to occur.

Open Interest Highlights Dogecoin’s Advantage

Investor sentiment is another clear area of divergence. According to CoinGlass, Dogecoin’s open interest has surpassed $1.5 billion, while Shiba Inu’s stands at just $131 million. This gap shows the wider market’s preference for DOGE and reflects its stronger backing from large investors.

As a result, SHIB continues to fight an uphill battle. Even though Shiba Inu price today shows signs of consolidation, the lack of ETF buzz and low trading interest have made upward momentum difficult to maintain. In technical terms, Shiba Inu price resistance continues to limit upward movement, while stronger tokens like Dogecoin steal the spotlight.

Shiba Inu’s Road Ahead

So, is Shiba Inu a good investment? The answer depends on what investors are hoping to gain. While short-term traders might be discouraged by current resistance levels, long-term holders are still optimistic. The Shiba Inu ecosystem continues to grow, with DeFi utilities, NFTs, and community-based projects creating potential value.

But to break free from its current range, SHIB must conquer the Shiba Inu price resistance levels holding it back. Analysts believe a breakout above key levels, particularly around $0.00003, could trigger renewed interest. Until then, the token remains in a phase of wait-and-see.

With that said, the Shiba Inu price prediction remains cautiously optimistic. If the meme coin narrative reignites, and if SHIB manages to secure some institutional attention, it could spark a return to bullish territory. For now, investors will continue monitoring Shiba Inu price today, hoping for signs of momentum beyond just memes.