TLDR:
- SHIB has broken through two major descending trendlines that dominated its price action through 2024 and early 2025
- Technical indicators including WaveTrend Oscillator show bullish reversal signals after reaching oversold territory
- Analysts predict a potential 124% surge to $0.00003 by May 2025
- SHIB’s daily burn rate recently soared by over 1,500%, reducing circulating supply
- Shibarium Layer 2 blockchain network has broken above $1 billion in cumulative transaction volume
Shiba Inu (SHIB) is experiencing a notable price breakout that could lead to a significant rally in the coming weeks. Technical analysts are pointing to multiple indicators suggesting SHIB could double in value, potentially reaching the $0.00003 level from its current position around $0.0000135.
After bottoming out at just above $0.00001 in late April, SHIB climbed to nearly $0.00001510 before pulling back to the $0.0000135 range. This recent price action has caught the attention of crypto market watchers who see strong technical signals forming.
The most compelling evidence for a potential rally comes from SHIB’s breach of two major descending trendlines. These trendlines had controlled the token’s price movement throughout 2024 and early 2025.
The first major downtrend began in March 2024, creating a pattern of lower highs and lower lows. SHIB broke above this trendline in late 2024, triggering a spike to $0.000031.
$SHIB update
this aligns better. https://t.co/GvXxIEQpx1 pic.twitter.com/Rn4Y89YFIg
— Charting Guy (@ChartingGuy) April 27, 2025
A second descending trendline formed as selling pressure continued into 2025. In mid-April 2025, SHIB overcame this second resistance, potentially shifting market dynamics.
Technical Indicators Point Upward
Multiple technical indicators are aligning to support the bullish case. The WaveTrend Oscillator is turning upward after reaching oversold territory below 60, a pattern that has historically preceded sustained SHIB rallies.
A weekly SHIB/USD chart analysis reveals three key indicators showing early bullish reversal patterns: the RSI, WaveTrend Oscillator, and LMACD. The RSI has flattened around the 40-45 range after a prolonged decline.
The 14-day Relative Strength Index currently sits around 64.47, suggesting positive momentum without entering overbought territory. This leaves room for continued upside movement.
SHIB has recently closed three consecutive green weeks, a historically bullish sign. Technical patterns such as a double-bottom formation with a neckline around $0.000033 and a narrowing symmetrical triangle also point toward a possible explosive move.
Both oscillating lines are approaching what appears to be a positive crossover, with histogram bars shifting from negative to a more neutral position. Previous green dots on weekly charts have preceded multi-week price expansions for SHIB.
Market forecasters suggest an aggressive short-term trajectory. Projections indicate SHIB could reach approximately $0.00001795 by April 29, $0.00002416 by April 30, and potentially hit $0.00003039 by May 1—representing a nearly 124% increase from current levels.
Growing Ecosystem Strength
Beyond pure technicals, Shiba Inu’s fundamentals are steadily strengthening. The project’s daily burn rate recently soared by over 1,500%, reaching 11.8 million SHIB burned per day. As a result, the circulating supply has decreased from over 999 trillion tokens initially to around 589 trillion today.
The Shibarium Layer 2 blockchain network has broken above $1 billion in cumulative transaction volume. Active network addresses have climbed steadily, reflecting the expanding utility of the SHIB ecosystem.
These developments are supported by the “SHIB Army,” one of the crypto space’s largest communities, now boasting over 1.5 million wallet addresses.
The broader crypto market appears to be entering a risk-on phase, with the Fear & Greed Index currently reading 61 (“Greed”). This positive sentiment may provide a supportive backdrop for meme coins like SHIB to flourish in the coming weeks.
Multiple analysts have weighed in with positive outlooks. Analyst SABoikie stated that “Shiba Inu offers an excellent buying opportunity at current levels.” According to MMB Trader, the established baseline support level at $0.00001 could make a target price of $0.000037 achievable.
The previous Fibonacci retracement zone measured at 0.618 last appeared in December 2024 and serves today as a vital upper target for $0.00003. Fibonacci analysis is particularly relevant at this level because major market reversals tend to happen at these mathematical ratios.
Analysts stress the importance of monitoring critical levels. A failure to maintain support above the ascending trendline could delay the breakout or expose SHIB to a deeper correction.
The immediate price action around $0.000018 will be crucial in determining whether SHIB can fully capitalize on this setup. As of press time, SHIB was trading at around $0.00001346.
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