- Shiba Inu (SHIB) has broken key resistance trendlines, signaling a potential 100% rally to $0.00003.
- Bullish indicators and analyst support suggest strong momentum ahead for the meme coin.
Shiba Inu (SHIB) is once again commanding attention as technical indicators and expert analyses point toward a significant bullish breakout. After months of consolidation and resistance struggles, the meme coin could be poised for a powerful rally — potentially doubling its price to hit $0.00003 in the coming weeks.
After reaching a local high of $0.00001510 in mid-April, SHIB retraced slightly to the $0.0000135 zone. However, analysts believe this pullback was necessary for building a strong base before a major upswing. Technical analysts highlight that SHIB has broken through not one, but two critical descending trendlines that have suppressed its price since early 2024.
Also read: BlackRock’s Bitcoin ETF Breaks Records with Almost $1 Billion in One-Day Inflows
Crypto analyst “Charting Guy” emphasized the significance of this development, stating that SHIB’s breakout over these long-standing resistance levels is a game-changer. “SHIB has overcome this trendline in this recent attempt,” he noted, suggesting renewed bullish momentum.
The bullish setup is further confirmed by technical indicators such as the WaveTrend Oscillator, which has bounced from oversold territory. Historically, similar setups have preceded sustained price rallies. Additionally, the Relative Strength Index (RSI) is flattening near the 40-45 range — a sign that momentum could soon shift in favor of the bulls.
Further validation comes from prominent analysts like SABoikie and MMB Trader. SABoikie highlighted the token’s fractal structure, suggesting that a move past $0.000014 could mark the beginning of a much larger trend, potentially targeting $0.00010 and beyond. MMB Trader added that SHIB’s support at $0.00001 strengthens the case for a $0.000037 rally.
The Fibonacci retracement level of 0.618 — often a key turning point in crypto markets — aligns closely with the $0.00003 target. Analysts are optimistic that the combination of strong technical support, bullish indicator signals, and increased whale activity could propel SHIB toward this level soon.
With momentum building and multiple experts signaling a bullish reversal, Shiba Inu appears ready to deliver a 100% rally, capturing the attention of traders eager for the next major altcoin breakout.
Would you like me to turn this into a social media post as well?
