SHIB's Strategic Leap into Mainstream Finance: Bitget Partnership and On-Chain Strength Signal Broader Adoption

Shiba Inu (SHIB) is showing early signs of a potential rebound, with technical indicators and on-chain data suggesting a bullish case for the token. At $0.0000086 as of Thursday, SHIB's price has formed a bullish RSI divergence, where the relative strength index (RSI) is creating higher lows despite the asset itself making lower lows. This divergence often signals a short-term reversal or a rally, adding to the optimism among traders and analysts.

The recovery narrative is further bolstered by SHIB's recent partnership with Bitget, a major cryptocurrency exchange, to launch a SHIB-branded payment card. The collaboration, announced via Shiba Inu's official X account, allows users to spend their SHIB tokens for everyday transactions, expanding the token's real-world utility. This move is seen as a strategic step to drive adoption and integrate SHIB into mainstream financial ecosystems.

On-chain metrics also support the bullish outlook. Santiment's 30-day Market Value to Realized Value (MVRV) ratio for SHIB stands at -10.09%, indicating the token is currently undervalued. Historically, similar MVRV levels have preceded price recoveries for SHIB. Additionally, Coinglass's OI-Weighted Funding Rate has flipped to a positive 0.012%, the highest since early October, suggesting that long positions are gaining strength. Positive funding rates typically indicate that traders are betting on a price increase, which could drive further buying pressure.

Derivatives data and whale activity reinforce the case for SHIB. Large whale orders and rising spot market buying dominance, as highlighted by CryptoQuant, signal that institutional or significant retail investors are accumulating the token. These factors collectively suggest a potential recovery rally is forming, with the 50% price retracement level at $0.0000099 acting as a near-term target. However, a correction below Wednesday's low of $0.0000082 remains a risk if market sentiment shifts.

Analysts caution that while the technical and on-chain indicators are promising, SHIB's price action will ultimately depend on broader market conditions and regulatory developments in the crypto space. The token's partnership with Bitget could provide a catalyst for adoption, but sustained momentum will require continued positive sentiment and macroeconomic stability.

Shiba Inu Price Forecast: SHIB eyes rebound as bullish divergence emerges and Bitget launches SHIB payment card