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The recent price action reveals that if SHIB closes a four-hour candle above the $0.00002250 mark, there is a strong possibility it could soar by 30% to reach the $0.000029 mark in the near future. On the positive side, SHIB’s Relative Strength Index (RSI) currently stands at 58.9, meaning it is below the overbought zone. This indicates that the asset has sufficient room to soar in the future. Bullish On-Chain Metrics Currently, traders have increased their participation and interest in the meme coin, as revealed by Coinglass. The data shows that SHIB’s open interest has risen by 16% in the past 24 hours, reflecting growing confidence and interest among traders. Additionally, on-chain metrics reveal that SHIB’s Long/Short Ratio currently stands at 1.09, indicating strong bullish market sentiment among traders. At present, 52.37% of top traders hold long positions, while 47.63% hold short positions. Combining these on-chain metrics with technical analysis suggests that bulls are currently dominating the asset and could help the meme coin breach the $0.00002250 hurdle, paving the way for further upside momentum.$SHIB