Shiba Inu (SHIB) Rallies 51% in April, Breaks Key Resistance

Shiba Inu (SHIB) has recently demonstrated significant price movements, capturing the attention of market participants. The token's price behavior began to shift on April 22, when it found support slightly above $0.00001. This support level marked the start of a recovery phase, which saw SHIB rally to nearly $0.00001510 by April 26. However, the token then retraced to the $0.00001376 region at the time of writing.

Technical analyst Charting Guy highlighted the importance of SHIB breaching two major descending trend lines that had 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 this 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 emphasized 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. 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 favorable. 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.

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.