SHIB ($SHIB) Approaches a Critical Market Turning Point

Shiba Inu (SHIB) trades near $0.0000082, hovering at the lower boundary of its long-term descending channel. This area has triggered strong rebounds in previous cycles, and traders now watch closely to see if the pattern repeats. Weeks of selling pressure pushed SHIB into a critical zone, but derivatives shifts suggest a potential turning point. Open interest flipped sharply after billions in short positions were liquidated, creating a cleaner foundation for any bullish attempt.

Global Derivatives Upgrades Strengthen SHIB’s Market Reach

Coinbase’s December expansion plays a major role in the latest sentiment spike. Starting December 5, Coinbase Derivatives activates 24/7 altcoin monthly futures, allowing SHIB to trade without old hour-based restrictions. This introduces constant volatility and increases liquidity in a way SHIB has not experienced before.

The exchange will also introduce perpetual-style futures for U.S. traders on December 12, placing SHIB alongside Bitcoin Cash and Avalanche. Perpetual futures typically attract speculative demand, and this could boost intraday momentum during key events.

Regulatory progress adds another bullish layer. Japan now classifies SHIB under the same flat crypto tax structure used for BTC and ETH. Meanwhile, Gemini enabled SHIB perpetual contracts for European traders. These steps mark a growing acceptance of SHIB within regulated frameworks.

Technical Outlook: Can SHIB Hold and Reverse?

SHIB sits at a major decision zone. Buyers defended support near the channel floor, triggering an open interest recovery that signals renewed confidence. If SHIB bounces, the roadmap points toward $0.00000840, $0.00001030, $0.00001160, $0.00001480, and $0.00001670.

Failure to hold support may send price toward $0.0000071 before forming a new base. Sentiment appears weak, but SHIB historically begins major breakouts from similar conditions. If futures inflows strengthen, the market could prepare for another sharp move.