This aggressive movement in the meme coin market has revived bullish sentiment and intensified speculation about SHIB's potential to break key resistance levels—most notably, the ambitious $0.000045 target.

Whale Activity Signals Growing Confidence

Despite a turbulent few months in the crypto market, meme coin enthusiasm has shown no signs of slowing down—especially with the recent eruption of interest in Pepe (PEPE) and the ongoing recovery from March’s lows.

This aggressive movement has also brought renewed bullish sentiment to Shiba Inu (SHIB), intensifying speculation about the token’s potential to break key resistance levels—most notably, the ambitious $0.045 target.

As SHIB currently trades at around $0.000015, let’s take a look at the key technical and on-chain factors that are being closely monitored by traders and analysts.

Shiba Inu (SHIB) was trading at around $0.000015, up 3.65% in the last 24 hours at press time. Source: Brave New Coin

Whale Activity Signals Growing Confidence

On-chain data from Santiment and other analytics platforms confirms that whale wallets now hold over 530 trillion SHIB tokens, reflecting a clear accumulation trend. This behavior is being interpreted by analysts as a precursor to a potential supply squeeze—especially as the available SHIB on exchanges has declined by 5 trillion to 141 trillion.

“Large-scale accumulation during consolidation phases often precedes explosive price moves,” one analyst noted, referencing how Shiba Inu’s historic 2021 rally began after Ethereum co-founder Vitalik Buterin burned 400 trillion SHIB.

Adding fuel to the narrative, recent data shows an additional 13 million SHIB burned in just 24 hours, further shrinking the circulating supply.

Historically, a spike in the SHIB burn rate has coincided with sharp price increases.

Technical Patterns Align for Bullish Breakout

From a technical analysis standpoint, Shiba Inu is displaying several bullish signals. Most notably, the token recently completed an inverted head-and-shoulders pattern on the daily chart—a classic formation often seen before major rallies.

SHIB shows bullish signs but remains below the 200 EMA, with key support at $0.00001410 and downside risk toward $0.00001260. Source: Paper_Trader1775 on TradingView

According to CoinDesk Research, SHIB’s breakout from the neckline of this pattern was accompanied by a massive 2.83 trillion trading volume spike, nearly four times higher than average. This strong volume surge helped SHIB bounce from lows around $0.0000143 to currently trade above $0.0000151 as of May 22.

“The successful retest of the neckline has solidified the $0.000014–$0.0000147 range as a key support zone,” technical analyst Oliver Dale explained. “With that base in place, Shiba Inu could now be setting up for a larger move toward the next resistance levels.”

Road to $0.000045: Key Milestones Ahead

While SHIB has broken above its 50-day exponential moving average (EMA), it still needs to surpass the 200-day EMA near $0.000016 for confirmation of a long-term trend reversal. The next significant resistance lies at $0.000019, a level analysts say could act as a springboard toward the higher goal of $0.000037 and beyond.

SHIB is nearing the end of wave D in a triangle pattern, with a key liquidity sweep expected and eyes set on the $0.000045 price target. Source: Behdark on TradingView

“If the bullish momentum sustains and Bitcoin doesn’t overshadow altcoin activity, Shiba Inu could realistically aim for $0.000045 in the near term,” said a market strategist from FXStreet. “But if the token fails to maintain momentum, a pullback to support at $0.000013 remains on the table.”

Still, the relative strength index (RSI) on SHIB’s daily chart sits comfortably above 60, indicating continued buyer interest without entering overbought territory.

Final Thoughts: Can SHIB Reach $0.0045?

The current environment presents a mix of technical optimism and cautious observation. With bullish chart patterns, a declining exchange supply, whale accumulation, and consistent burns, Shiba Inu appears well-positioned for an upside move.

If momentum continues, a rally to $0.000045 is certainly within the realm of possibility—especially if SHIB reclaims $0.000019 and breaches long-term resistance.

However, macro market trends and Bitcoin dominance will remain critical external factors that could influence SHIB’s next leg.

Investors and traders