Shiba Inu Surges 0.58% Amid Bullish Technical Indicators

Shiba Inu's latest price was $0.00001236, up 0.58% in the last 24 hours. The cryptocurrency has recently garnered attention due to a viral post from the official SHIB team. The tweet, “Shib is for everyone,” mirrored a marketing trend initiated by Coinbase’s Base network. This post sparked significant conversation online and referenced the minting platform Zora with the follow-up tweet, “Coined it.” Although no official SHIB token was launched to mirror the Base token, the buzz generated moderate activity within the meme coin ecosystem. The post helped reignite community engagement, which is crucial for a token that thrives on sentiment and culture. This coordinated messaging could be instrumental in keeping SHIB in the spotlight in 2025.

Analysts remain cautiously optimistic about SHIB’s future, especially with bullish Elliott Wave forecasts in play. The recent post might have set the stage for larger rallies by re-energizing SHIB’s loyal community. The meme coin continues to be one to watch in 2025, with technical forecasts pointing to a massive breakout.

A crypto analyst, illagodzilla, has sparked excitement in the Shiba Inu community with a bold prediction of a massive Shiba Inu rally. Citing technical indicators and historical patterns, the analyst suggests the meme coin is approaching a powerful reversal point. The current daily chart reveals that SHIB has entered a phase of tight consolidation after retreating from its February highs. The Relative Strength Index (RSI) at 49.77 remains neutral, indicating a potential reversal if upward volume builds. The MACD indicator supports this cautious optimism, with the histogram nearly flat and the MACD and signal lines converging, suggesting a decision point is near. If the bullish pattern completes, it could affirm SHIB price prediction models targeting a strong breakout.

According to illagodzilla, SHIB is forming a bullish double bottom structure on the monthly chart. This pattern is considered powerful and often precedes major upside. The first bottom appeared in June 2023, followed by a rebound to March 2024’s high. After a 73% retracement from that level, the second bottom is now in formation. This structure underpins the current SHIB price prediction. The strategic entry point, identified as $0.00000808, is the base of the W-shaped pattern. This zone provides an ideal opportunity for dollar-cost averaging and aligns with the general sentiment surrounding meme coin cycles. Two future price targets are defined if the double bottom completes: a 640% rally to $0.00008854, revisiting SHIB’s all-time high, and an aggressive 1,346% rise to $0.000173, setting a new record. This roadmap has gained traction among retail traders and is endorsed by other analysts.

SHIB is gaining nearly 2% amid broader market volatility. Analysts remain confident in the Shiba Inu rally narrative, citing strong fundamentals and upcoming project announcements. The token’s evolving use case within the Shibarium ecosystem further strengthens the bullish case for a sustainable rise in value. Traders are monitoring SHIB price trends for confirmation of the double bottom, which would ignite bullish momentum across the board.

The current Shiba Inu price action may just be the break before a huge rise. With strong technical patterns forming and a clear strategic entry point outlined, SHIB appears poised for a substantial breakout. As the crypto market eyes potential uptrends, both traders and investors should keep a close watch on this meme coin. The ongoing signals suggest it’s time to reevaluate SHIB price prediction strategies and prepare for what could be a historic run.

Shiba Inu (SHIB) is picking up steam, with bullish technical indicators, higher trade volumes, and a rising token burn rate signaling a likely move. Bullish sentiment is being supported by chart patterns like the ascending triangle and cup-and-handle, both of which have been linked to breakouts in the past. Higher whale accumulation and robust on-chain activity add strength to the case for upward movement. With more investor demand and improved market conditions, SHIB seems poised for a gigantic breakout, further fueling expectations that it can soon “lose a zero” from its current price.

SHIB has broken the $0.000012 barrier level, even as trading volume fell. Such a price rise, accompanied by declining volume, indicates institutional investment over retail-driven momentum. Besides, a 173% increase in large-volume SHIB trades indicates that big players are carefully weighing their positions ahead of a potential breakout. For retail investors, a peak past $0.0001 would not only be a psychological milestone but could propel SHIB’s market cap above $58 billion and perhaps even into the top ten cryptocurrencies. Many analysts suggest that it will take sustained, powerful upward momentum as well as positive technical indicators and positive sentiment in the market to reach this level.

Technical analyst CaptToblerone applied Elliott Wave Theory to SHIB’s present price structure, finding the end of a corrective wave and the start of a possible five-wave bullish series. If this pattern plays out as projected, SHIB may soar to $0.00014, exceeding its previous all-time high. Wave B of the corrective phase seems to have terminated at $0.000012, which aligns with SHIB’s recent resistance breakout and whale accumulation, both of which are considered as initial signals for an extended rally.

Another reason why Shiba Inu (SHIB) price is rising is due to its deflationary mechanism. The burn rate of the token has risen by 3,200%, significantly reducing its circulating supply, possibly triggering a supply shock if demand keeps increasing. In the last 24 hours, 17.5 million SHIB were burned, primarily as a result of a single huge transaction. This heightened burn activity, alongside increased whale engagement, may pump SHIB’s price. Shiba Inu’s open interest has risen to $116 million, indicating growing confidence among traders. With positive funding rates and many opening long positions, the market sentiment remains bullish. This strong interest suggests SHIB could experience significant price movement, potentially reaching $0.00001 and a $58 billion market cap. According to data from Coinglass, the rising open interest coupled with positive funding rates suggests that many traders are taking long positions on Shiba Inu. This growing interest from traders betting on price increases reflects a bullish market sentiment.