Shiba Inu Gains 30% as Bitcoin Surpasses $90,000

Shiba Inu (SHIB), one of the most popular meme coins, has recently regained attention as it has bounced back from its 2025 lows, gaining 30%. Currently, it is at a critical resistance zone, and traders and analysts are closely monitoring whether this marks the beginning of an upward price appreciation or just another temporary surge.

With Bitcoin recently surpassing $90,000, there is growing optimism that altcoins like Shiba Inu could be poised for a breakout. However, there are several technical and on-chain signals suggesting that SHIB still faces significant challenges before it can move higher.

As of April 23, SHIB is trading around $0.00001370 and has reclaimed its 50-day exponential moving average, a move typically seen as bullish. However, the real challenge lies in the dense liquidity zone between $0.000012 and $0.000013, where over 66,000 addresses hold more than 41 trillion tokens. This range acts as both a psychological and technical barrier, as many holders are waiting to break even and could sell quickly if the price rises, creating intense resistance for any SHIB price surge.

A second resistance cluster is forming just above this zone, between $0.000013 and $0.000014, where another 15 trillion tokens are held by “out-of-the-money” investors who could also apply pressure by exiting positions during rallies. This creates a challenging situation for bulls looking to drive price momentum.

Analyst Ali Martinez has identified the TD Sequential, a technical analysis tool to identify reversals, from the weekly chart on SHIB. The TD Sequential recently reported a buy signal, implying a low likelihood of downside and increasing the odds of a price action rally. Additionally, there may be an emerging bullish double-bottom pattern around the $0.00001070 zone, with the neckline around $0.00001565. If validated, SHIB may reach a price target of 0.00002217, roughly a 70% move from current levels.

Despite the resistance ahead, several technical indicators appear positive. The Relative Strength Index (RSI) is currently slightly above 54, suggesting that the asset isn’t overbought and is ready to move. There is also a bullish divergence formation under the Bollinger Bands, indicating that price momentum appears to be building.

Fundamentals are also playing a role. The Shiba Inu ecosystem continues to develop, with Shibarium’s layer-2 network eclipsing 1 billion transactions. This indicates growing adoption and real-world utility for the token, which could potentially add long-term value. Additionally, the project’s ongoing SHIB token burn strategy is reducing the circulating supply, which could support a SHIB price surge by improving token scarcity over time. However, caution remains among the community, with Shiba Inu’s marketing lead reminding users to stay alert for scammers and impersonators, especially during volatile market conditions.

With over 22 trillion tokens currently positioned just above SHIB’s trading price, bulls will need serious momentum, both technical and fundamental, to break through and sustain a rally. If Bitcoin continues its climb and Shibarium usage grows, the odds of a sustained SHIB price surge may finally be improving. SHIB is at a critical crossroads, with strong resistance ahead and the possibility of a double-bottom pattern forming. The setup is there, but it remains to be seen whether bulls have enough fuel to push SHIB higher or if another rejection is around the corner.