TLDR
- SHIB broke out of a descending wedge pattern, showing technical strength
- Price currently trading around $0.00001373, up 2.21% in 24 hours
- Bulls maintaining support at $0.00001265-$0.00001282 zone
- Analysts predict potential 124% rally to $0.00003 by early May
- Recent hack involving 150 billion tokens hasn’t derailed upward momentum
Shiba Inu has shown remarkable resilience in recent weeks, breaking through key technical barriers and positioning itself for what could be a substantial price increase.
After completing a complex correction pattern, SHIB has established a new bullish structure that has caught the attention of traders and analysts alike.
The popular meme coin is currently trading near $0.00001373, representing a 2.21% increase over the last 24 hours.
This movement comes after SHIB completed what analysts identify as a WXYXZ correction within a descending wedge pattern that completed on April 7 at $0.00001030.
The technical picture shows SHIB has broken out of two important descending trendlines. The first formed in March 2024 and capped rallies until December, while a second resistance trendline was broken in April 2025.
This breakout signals the end of a long-term corrective structure and the beginning of what appears to be a new upward trend. The price has rallied 12% from its support levels, confirming the strength of the move.
Looking at the Elliott Wave structure, SHIB appears to be in its fifth wave of an impulse pattern. After completing wave (iii) at $0.00001525, the price retraced to wave (iv) with a low around $0.00001317.
SHIB Price
Key Support and Resistance Levels
The battleground for SHIB now exists between $0.00001265 and $0.00001516, which aligns with the 0.786 Fibonacci level at $0.000015. Since March, this range has functioned as both resistance and accumulation zone.
For the bullish trend to continue, SHIB must hold above the critical support at $0.00001265. A drop below this level could trigger a retest of $0.00001078 or even lower supports at $0.00000687.
The key resistance level sits between $0.0000142 and $0.0000145. Breaking through this zone would likely validate the bullish trend and could trigger rapid upside momentum.
Technical indicators support the bullish case. The Relative Strength Index (RSI) on the 4-hour chart is trending upward while remaining below overbought territory at 64.47, suggesting room for further growth.
Trading volume has also increased, with daily volume climbing to $220.37 million, a 15.32% increase. The market cap now stands at $8.09 billion, reflecting growing market interest.
Price Targets and Predictions
If momentum continues, analysts have set upside targets at $0.00001795 by April 29 and an ambitious $0.00003039 by May 1, representing a potential 124% gain from current prices.
More conservative estimates point to the 1.618 Fibonacci extension at $0.00001490 or the 2.0 extension at $0.00001570 as realistic targets for the current wave.
The first confirmation of this continuation would be a sustained move through $0.00001418 (0.272 Fibonacci level). Failure to break above this level in the next few sessions could result in another retest of the $0.00001317-$0.00001282 zone.
From a trading perspective, the current setup favors bulls with a low-risk entry near current levels and tight invalidation.
SHIB has managed to maintain strength despite a recent security incident. Hackers dumped 150 billion tokens and funneled over 1,050 ETH through TornadoCash, while still controlling $25.5 million in crypto assets.
Surprisingly, the market has shown resilience to this selling pressure. Daily token burns have spiked by over 1,500%, which helps strengthen tokenomics by reducing supply.
The macro trend has now flipped cautiously bullish. With rising momentum, structural support at current levels, and improving fundamentals, SHIB appears poised for a sustained move higher.
For SHIB to maintain its rally, it must overcome the $0.0000145 resistance level. Success here would likely push the token toward $0.000018 and possibly to the $0.00003 target by early May.
