Shiba Inu (SHIB) Price: Breaks Free From Year-Long Downtrend, What’s Next?

TLDR

SHIB has broken through two major descending trendlines that dominated price action in 2024-2025 Technical indicators (RSI, WaveTrend Oscillator, LMACD) show early bullish reversal patterns Analysts predict a potential 100-124% rally, targeting the $0.00003 price level Hackers recently offloaded 150 billion SHIB tokens, creating fresh selling pressure SHIB burn rate has increased by 1,500%, reaching 11.8 million tokens burned daily

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Shiba Inu (SHIB) is showing signs of a major breakout as multiple technical indicators point to a potential surge toward the $0.00003 level. After bottoming out at just above $0.00001 in late April, SHIB has climbed to nearly $0.00001510 before pulling back to the $0.0000135 range.

The latest analysis reveals that SHIB has overcome two major descending trendlines that dominated its price action throughout 2024 and early 2025. The first major downtrend began in March 2024, creating a series of lower highs and lower lows until SHIB broke above this trendline in late 2024, triggering a spike to $0.000031.

Shiba Inu
SHIB Price

Following this initial breakout, another descending trendline formed as selling pressure continued into 2025. In mid-April 2025, SHIB managed to breach this second resistance, potentially shifting market dynamics.

Technical analysis for Shiba Inu shows the WaveTrend Oscillator turning upward after reaching oversold territory below 60. Historically, these movements have preceded sustained SHIB rallies.

A weekly SHIB/USD chart analysis reveals three key indicators showing early bullish reversal patterns: the RSI, WaveTrend Oscillator, and LMACD. The RSI has flattened around the 40-45 range after a prolonged decline, creating conditions favorable for upward movement once momentum builds.

Bullish Indicators and Price Targets

Both oscillating lines are approaching a positive crossover, with histogram bars shifting from negative to a more neutral position. Previous green dots on the weekly chart have preceded multi-week price expansions for SHIB.

SABoikie stated that Shiba Inu offers “an excellent buying opportunity at current levels,” based on a fractal pattern indicating SHIB could rise above $0.000014 as its first milestone.

According to MMB Trader, the established baseline support level at $0.00001 could make a target price of $0.000037 achievable for this popular meme token.

The 0.618 Fibonacci retracement zone that last appeared in December 2024 serves today as a vital upper target for $0.00003. Fibonacci analysis demonstrates its critical nature at this level because major market reversals tend to happen at these mathematical ratios.

Market forecasters suggest an aggressive short-term trajectory for SHIB. Projections indicate it could reach approximately $0.00001795 by April 29, $0.00002416 by April 30, and potentially hit $0.00003039 by May 1 — a near 124% increase from current levels.

The 14-day Relative Strength Index (RSI) currently sits around 64.47, suggesting positive momentum without entering overbought territory. This leaves room for continued upside.

Challenges and Ecosystem Development

Despite the bullish outlook, SHIB faces fresh selling pressure after hackers offloaded 150 billion tokens. Blockchain security firm PeckShield reported that Bitrue Exploiters, linked to a 2023 breach, exchanged these tokens for approximately 1,500 Ethereum (ETH).

#PeckShieldAlert #Bitrue Exploiter-labeled addresses have swapped 150B $SHIB & 756M $HOT for ~1,500 $ETH & transferred 1,050 $ETH to #Tornadocash.
The exploiter still holds 5,111 $ETH & 16M $DAI (worth ~$25.5M).
In 2023, crypto platform #Bitrue suffered a cyberattack resulting… pic.twitter.com/lR87clBJCs

— PeckShieldAlert (@PeckShieldAlert) April 28, 2025

A major portion of these funds, particularly 1,050 ETH, has already been laundered through TornadoCash. The hackers still hold around 5,111 ETH and 16 million DAI, with a combined value nearing $25.5 million, raising fears that SHIB’s market stability could suffer further.

Currently, SHIB is battling key resistance between $0.0000142 and $0.0000145 — a zone where sellers previously took control. The MACD indicator shows a bullish crossover, and the RSI stands at 62.04, hinting at bullish strength.

Beyond technical factors, Shiba Inu’s fundamentals are steadily strengthening. The project’s daily burn rate recently soared by over 1,500%, reaching 11.8 million SHIB burned per day. As a result, the supply in circulation has decreased from over 999 trillion tokens initially to around 589 trillion today.

Shibarium Layer 2 blockchain network of Shiba Inu continues to draw greater attention, recently breaking above $1 billion in cumulative transaction volume. Active Shibarium network addresses have climbed steadily, reflecting the expanding utility of the SHIB network.

The broader crypto market appears to be entering a risk-on phase, with the Fear & Greed Index currently reading 61 (“Greed”). This positive sentiment may provide a supportive backdrop for meme coins like SHIB to flourish in the coming weeks.

For SHIB to confirm a breakout towards the $0.0000145 target range, it must sustain above current resistance levels, especially in light of potential selling pressure from hackers.

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