Shiba Inu (SHIB) Shows Signs of a Major Breakout as Multiple Technical Indicators Point to a Potential Surge

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.

Shiba Inu (SHIB) price is showing signs of a major breakout as multiple technical indicators point to a potential surge toward the $0.00003 level, according to recent analysis.

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, where it currently trades at the time of writing.

Shiba Inu Overcomes Two Major Trendlines

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, forming a series of lower highs and lower lows until SHIB broke above this trendline in late 2024, ultimately triggering a strong rally to $0.000031.

However, following this initial breakout, another descending trendline emerged as selling pressure continued into 2025. Finally, in mid-April, SHIB managed to breach this second resistance, which could be shifting market dynamics.

According to technical analysis for Shiba Inu from Ben Armstrong, also known as "CoinBeats," the WaveTrend Oscillator is turning upward after reaching oversold territory below 60.

“These movements have typically foreshadowed sustained rallies in SHIB,” said Armstrong.

A weekly SHIB/USD chart analysis reveals three major 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, setting the stage for a return to overbought territory once enough momentum builds.

Both oscillating lines are approaching a positive crossover, and the histogram bars are shifting from negative to a more neutral position.

Moreover, previous green dots on the weekly chart have preceded multi-week expansions in the SHIB price.

“Shiba Inu provides an excellent buying opportunity at current levels. We can see a fractal pattern forming, suggesting that SHIB could rise to around $0.000014 as its first milestone.

If this fractal plays out, we can expect to see a rejection at this level, leading to a bounce back down to the $0.00001 support zone.

From there, another attempt at breaking above $0.000014 will likely occur, and if successful, could propel SHIB toward the $0.000018 zone.

Ultimately, a break above the 0.618 Fibonacci retracement zone, which last appeared in December 2024, serves today as the upper target for $0.00003.

This Fibonacci analysis is significant because major market reversals tend to happen at these mathematical ratios.

At this level, we can anticipate either a strong rally to continue the bullish trend or a decisive move by sellers to regain control and drive the price lower.

Considering the current market dynamics and technical analysis, it appears that buyers have a slight edge at this juncture.

If sellers manage to defend the 0.618 Fibonacci retracement zone and stall the bullish momentum, we might see a pullback to the $0.00001 support zone, where another round of buying opportunities could arise.

However, if buyers succeed in breaking through this Fibonacci zone, the next target could be the 1.0 Fibonacci retracement zone, which is currently at around $0.000037.

This would represent a significant rally from current price levels.

Overall, the technical analysis suggests that SHIB could be poised for a breakout toward the $0.00003 target zone.

However, the outcome will depend on the balance of buyers and sellers in the coming days and weeks.

The 0.618 Fibonacci retracement zone at December 2024 high is today’s vital upper target for $0.00003.

The 0.618 Fibonacci retracement zone at December 2024 high is today’s (8:45 AM Friday) upper target for $0.00003.

This Fibonacci analysis is significant because major market reversals tend to happen at these mathematical ratios. At this level, we can anticipate either a strong rally to continue the bullish trend or a decisive move by sellers to regain control and drive the price lower. Considering the current market dynamics and technical analysis, it appears that buyers have a slight edge at this juncture.

If sellers manage to defend the 0.618 Fibonacci retracement zone and stall the bullish momentum, we might see a pullback to the $0.00001 support zone, where another round of buying opportunities could arise.

However, if