Shiba Inu (SHIB) Breaks Through Key Resistance: $0.00003 Next?

Shiba Inu could be preparing for a significant price movement following a crucial trendline breakout, according to technical analyst Charting Guy. Recent trading activity suggests that SHIB may be forming a strong foundation for another upward rally.

Shiba Inu Breaks Through Key Resistance Levels

The token’s recent price behaviour has captured market attention, beginning with a recovery phase that started on April 22 after the asset found support slightly above $0.00001. Following this bottom, SHIB rallied to nearly $0.00001510 by April 26 before retracing to the $0.00001376 region at the time of writing.

Charting Guy highlights the importance of SHIB breaching two major descending trend lines that shaped its price pattern throughout 2024 and early 2025. The first descending trendline, originating in March 2024, kept the asset under consistent downward pressure until a breakout later that year, which saw the price spike to approximately $0.000031.

Despite that rally, persistent selling pressure introduced a second descending resistance line. However, Shiba Inu managed to decisively break above this second barrier in mid-April 2025. Charting Guy emphasizes that, unlike previous failed attempts near $0.000026 and just under $0.000016, this breakout exhibits greater strength, suggesting a sustainable shift in sentiment.

Based on this technical development, the analyst predicts a potential climb to the $0.00003 level. This target aligns with the 0.618 Fibonacci retracement zone measured from December 2024 highs, reinforcing the bullish outlook.

Oscillator Indicators Support Bullish Scenario

Additional confirmation comes from momentum indicators. The WaveTrend Oscillator, positioned below SHIB’s price chart, shows a decisive upward move following a deep oversold signal below 60. Historically, such reversals have preceded prolonged bullish runs for Shiba Inu.

Further analysis on the weekly SHIB/USD chart reveals that key indicators are also turning favourable. The Relative Strength Index (RSI), which had been declining steadily, has now flattened in the 40–45 range. Although the RSI is not yet in overbought territory, it is positioned in a zone that has previously supported large price recoveries.

Moreover, the weekly WaveTrend Oscillator has printed a green dot near its lower threshold—a signal often associated with trend reversals. The LMACD is showing early signs of a positive crossover, with histogram bars transitioning from negative to neutral. Combined, these indicators suggest the beginning of a broader upward trend.

Broader Market Sentiment Toward SHIB Strengthens

Other market observers share an optimistic outlook for Shiba Inu. Analyst MMB Trader recently referenced SHIB’s historical price patterns, pointing out strong baseline support at $0.00001. MMB Trader estimates an upper target of $0.000037 if bullish momentum continues.

Similarly, analyst SABoikie has expressed confidence in SHIB’s current price positioning, noting that it presents a compelling entry point. SABoikie points to a potential fractal formation that could propel SHIB past $0.000014 initially, with the possibility of reaching levels above $0.00010 in an extended rally.

Overall, growing technical evidence suggests that the token may be on the verge of a major move if current patterns hold. However, traders are advised to monitor broader market conditions and risk factors as volatility remains a key characteristic of crypto assets.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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