Bullish Breaks and Bullish Outlook for SHIB
Shiba Inu's Market Capitalization Surges to $8.09 Billion, Traders Anticipate Overcoming $0.0000145 Resistance Level
SHIB tokens are buzzing as the meme coin breaks free from two long-term trendlines, indicating a potential rally ahead. Currently trading around $0.00001373, up 2.21% in the last 24 hours, analysts predict a whopping 124% surge from the current levels, targeting $0.00003.
The SHIB price support zone remains solid between $0.0000126 and $0.0000128, giving bulls a robust foundation. Even with hacker-led selling pressure pushing over 150 billion tokens into the market, key indicators suggest the Shiba Inu bullish trend is alive and well.
Technicals Pointing North
The recent breakout signals an encouraging reversal in the SHIB trend, with the Relative Strength Index (RSI) still keeping room for further growth. Volume is on the rise, and daily token burns have spiked, strengthening tokenomics. Analysts eye the SHIB key resistance level located near $0.0000145, which, if broken, could ignite rapid upward momentum.
Setting Sights on the Fibonacci Level
With daily trading volume climbing to $220.37 million, a 15.32% increase, and market cap reaching $8.09 billion, the stage is set for potential price breakouts. Targets for the near future include the $0.00001795 mark by April 29 and the $0.00003039 mark by May 1, representing dramatic growth of 124%.
Chart 1 - SHIB/USD Live Price, published on TradingView, April 29, 2025.
Tackling Key Resistance Zones
Should the Shiba Inu token overcome the $0.0000142 to $0.0000145 resistance zone, it could validate the bullish trend and skyrocket. However, if selling pressures persist, the price might retest the support zone near $0.0000126. Despite the hacker-induced seller's pressure, SHIB holds an upward structure backed by Shibarium adoption and a growing holder base.
The Road Ahead
As the battle between upward momentum and resistance at $0.0000145 unfolds, SHIB remains a focus in the crypto world, riding momentum, burn mechanics, and ecosystem growth. Whether SHIB can finally reclaim its explosive potential in May 2025 remains to be seen.
Enrichment Data:- Some forecasts suggest SHIB could reach around $0.00001795 by April 29 and potentially hit about $0.00002416 by April 30, with a more aggressive target of $0.00003039 by May 1st[1][4]. However, CoinCodex predicts a more modest fluctuation between $0.00001150 and $0.00001335 for May[4].- The average prediction from a panel of 26 experts suggests SHIB will close at $0.0000399 by the end of 2025, which is an 84.3% increase from early 2025 prices[2]. Some experts are more optimistic, with predictions reaching up to $0.0000743[2].- If Shibarium becomes a significant layer-2 project, SHIB could reach new heights by 2030[1]. Some predictions extend as far as $0.001 to $0.0075 by 2035[1].- The ongoing volatility of SHIB is one of its defining characteristics, with the price ability to fluctuate widely due to market sentiment and broad crypto trends.
- The breakout of SHIB tokens from two long-term trendlines has analysts predicting a potential 124% surge, with prices targeting $0.00003.
- Despite hacker-led selling pressure pushing over 150 billion tokens into the market, key indicators suggest the Shiba Inu bullish trend is alive and well.
- With the Relative Strength Index (RSI) still keeping room for further growth, volume is on the rise, and daily token burns have spiked, strengthening SHIB's tokenomics.
- By April 29, targets for the SHIB price include the $0.00001795 mark, representing a dramatic growth of 124%, while potential targets for May 1 reach $0.00003039.
- If the Shiba Inu token can overcome the $0.0000142 to $0.0000145 resistance zone, it could skyrocket, potentially reaching up to $0.0000399 by the end of 2025, according to some experts.
- In the longer term, if Shibarium becomes a significant layer-2 project, SHIB could reach new heights by 2030, with some predictions extending as far as $0.001 to $0.0075 by 2035.
