Shiba Inu (SHIB) is showing early signs of renewed investor interest as open interest on the meme coin increased by 2.03%, reaching 11.36 trillion SHIB valued at approximately $158.65 million. The growth, based on CoinGlass data, follows a period of price volatility and aligns with technical chart patterns that indicate a possible trend reversal. The rise in open interest corresponds with increased derivatives activity across major exchanges. Gate.io currently leads with 54.18% of the total open interest, equivalent to 6.68 trillion SHIB worth $85.97 million. Other exchanges include Bitget with 2.02 trillion SHIB ($26.03 million), OKX at 1.15 trillion SHIB ($14.86 million), and Bitunix with 958.22 million SHIB ($12.34 million). This distribution shows that traders are actively aiming for potential upside. The increase in open contracts signals rising expectations of short-term or mid-term price movements, with participants capitalizing on recent price drawdowns to accumulate positions. Price Holds Major Levels Despite Broader Market Signals At the time of writing, SHIB was trading at $0.00001323, showing a 3.23% increase over 24 hours. The token’s market cap reached $7.75 billion, with a trading volume of $143.69 million over the same period. The volume-to-market cap ratio was recorded at 1.85%, suggesting moderate engagement relative to SHIB’s size. Source: CoinMarketCap Intraday trading showed a solid gain from $0.00001276 on June 2 to a peak above $0.0000134 by early June 3, followed by a correction and consolidation between $0.0000130 and $0.0000132. The stable price range may indicate accumulation behavior, despite the backdrop of recent volatility. An inverse Head and Shoulders Pattern Suggests Bullish Setup JAVONMARKS, a crypto analyst, affirmed the sentiment by highlighting a long-term chart that illustrates an Inverse Head and Shoulders (IHS) pattern developing between 2021 and 2025. This formation, commonly linked to bullish reversals, features a left shoulder, a deeper low forming the head around mid-2023, and a right shoulder with a similar trough. The current SHIB price of approximately $0.00001316 aligns with the chart data, supporting the potential for a trend reversal if the pattern is confirmed. As $SHIB (Shiba Inu) continues to hold in a huge Inverse Head & Shoulders Pattern and in there last phases of it, these prices can be GETTING READY TO RUN and it could consist of an over 503% upside to our first target at $0.000081! https://t.co/pYf1AuPM8f pic.twitter.com/2O7oUlWbuq — JAVON⚡️MARKS (@JavonTM1) June 3, 2025 Additionally, a possible breakout above the neckline of this pattern could point to a target near $0.00002847. According to JAVONMARKS, the continuation of this trend could push the price further, though confirmation through sustained volume and market validation remains necessary. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.