'Dogecoin Killer' Shiba Inu Jumps 6%: What Is Going On?

Shiba Inu's SHIB/USD significant rally over the past seven days and a new Shibarium DappStore launch could lead to a bullish run for the meme coin, traders are speculating.

Cryptocurrency	Price	Market Cap	24-Hour Trend	7-Day Trend
Shiba Inu SHIB/USD	$0.00001399	$8.2 billion	+6.1%	+16%
Dogecoin DOGE/USD	$0.1812	$27 billion	+4%	+16.2%
Pepe PEPE/USD	$0.058775	$3.7 billion	+2.2%	+22.6%

Trader Notes: Crypto trader InvestingHaven points to a W-pattern forming on SHIB's chart, a classic bullish reversal signal.

With strong support at $0.000012345 holding firm, the long-term setup is looking increasingly favorable. If the pattern confirms, it could unlock a significant breakout.

$SHIB W Pattern in Play?

SHIB chart hints at a potential W-reversal. A classic bullish signal.

With $0.000012345 holding as strong support, the #SHIB long-term setup strengthens.

A confirmed W-pattern could unlock significant upside. pic.twitter.com/eJ2JvYl57i

— InvestingHaven (@InvestingHaven) April 24, 2025

Statistics: IntoTheBlock data shows Shiba Inu large transaction volume and daily active addresses down by 32.1% and 20.5%, respectively, in a single day. Transactions greater than $100,000 dropped from 84 to 57.

Shibariumscan data shows daily transactions moved higher from 4.61 million to 4.65 million in a single day.

Coinglass data shows Shiba Inu open interest increased by 22.9% to $195.8 million, a six-week high.

Derivatives trading volume expanded by 5.6% in a single day.

Community News: Shiba Inu's marketing lead Lucie announced the official launch of the Shibarium DappStore, calling it a critical infrastructure layer that boosts both usability and credibility across the ecosystem.

The platform helps users discover verified dApps while providing developers with exposure to the engaged Shibarium community.

Importantly, while it's a curated experience, it doesn't limit permissionless development—instead, it amplifies quality projects and fosters growth through accessibility.

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