- Shiba Inu (SHIB) has broken major descending trendlines, with analysts predicting a potential rally toward $0.00003.
- Technical indicators like the WaveTrend Oscillator and RSI show early bullish signals, supporting the case for a strong upward move.
Shiba Inu (SHIB) may be on the verge of a significant price breakout, according to technical analyst Charting Guy. After months of battling persistent downtrends, SHIB has finally breached key descending trendlines, sparking optimism for a rally back toward the $0.00003 level.
Following a steady climb that started around April 22, SHIB surged from just above $0.00001 to nearly $0.00001510 before retracing slightly to the $0.0000135 region. Despite the pullback, technical signals indicate that Shiba Inu may be building a solid foundation for a larger move.
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Charting Guy highlighted the importance of two major descending trendlines that defined SHIB’s behavior throughout 2024 and into 2025. The first trendline, formed in March 2024, saw SHIB stuck in a bearish pattern until it finally broke out late last year, briefly spiking to $0.000031. A second downtrend emerged shortly after but was breached earlier this month, suggesting a shift in market dynamics.
Currently, the analyst sees a realistic target above $0.00003, aligning with the 0.618 Fibonacci retracement level observed during SHIB’s December 2024 rally.
Supporting this bullish outlook, the WaveTrend Oscillator has turned sharply upward after reaching deeply oversold levels — a signal that has historically preceded strong rallies. Additionally, the Relative Strength Index (RSI) and LMACD indicators on the weekly chart show early signs of a reversal, adding further weight to the bullish case.
Other market watchers echo similar optimism. MMB Trader projects a potential run toward $0.000037, while analyst SABoikie suggests that SHIB is currently offering an ideal buying opportunity, with a possible fractal pattern hinting at a larger breakout above $0.000014 and beyond.
If momentum continues to build, Shiba Inu could soon revisit price levels not seen since late 2024 — making it a token to watch closely in the coming weeks.
