Shiba Inu Surges 40% Breaking Key Resistance Levels

Shiba Inu (SHIB) has experienced a significant price surge, climbing above $0.000015 in what analysts are calling a massive trend reversal. This move marks a notable shift in the cryptocurrency's trajectory, which had been under heavy selling pressure for several months. The price jump of over 40% in the past two weeks has broken key resistance levels, leading to the formation of a major bullish pattern on the SHIB weekly chart—a reversed 'head-and-shoulders' formation.

The latest price action has seen SHIB print multiple bullish candles, indicating a strong upward momentum. Analysts have identified the next key price targets for SHIB at $0.000017 and $0.000020. The break above the descending resistance line on the daily chart is seen as a crucial indicator of the cryptocurrency's change in direction. SHIB has not been above the $0.000015 level since May 2025, and the current bullish candles suggest a sustained upward trend.

The surge in SHIB's price comes after a period of significant bear pressure, during which the cryptocurrency's value crashed to $0.00001005 for the first time in four months. However, the recent increase in volume, return of momentum, and substantial whale buying have contributed to the trend reversal. The bullish sentiment among SHIB community members has been further boosted by the memecoin's entry into a crucial zone on the weekly timeframe, specifically the neck region of the reversed 'head-and-shoulders' formation.

Analysts predict that SHIB is heading to retest the $0.000017 region, and a break above this level could open the way for the next target around the $0.000020 psychological resistance. The historical achievements of SHIB and the project's efforts to reduce token supply and increase demand add to its bullish potential. SHIB users remain optimistic about the rediscovered momentum and are hopeful that the memecoin will continue to push higher, potentially retesting some historical price levels.