SHIB Tokenized Promise as New Market Trend Reversal Hints at Breakout

Shiba Inu (SHIB) closed April 2025 with notable progress, creating a wave of new millionaires. While the broader crypto market stole the spotlight with a 10.31% surge, Shiba Inu managed to hold its ground.

The token posted a respectable 7% monthly gain, incrementally testing the $0.000012 barrier and briefly touching $0.00001343. This performance came as Bitcoin soared toward the $95,000 mark, helping boost investor confidence across altcoins.

Falling Wedge Breakout Fuels Optimism

SHIB’s recent price action has caught the eye of several technical analysts. One trader, SHIB KNIGHT, highlighted a falling wedge pattern on the SHIB/USDT chart. This setup usually indicates a reversal after a prolonged downtrend. The wedge pattern shows SHIB’s price tightening within downward-sloping trend lines, suggesting a breakout is near.

When SHIB KNIGHT did the analysis, SHIB was trading around $0.00001335, brushing against the breakout level. If the move is confirmed, SHIB could target $0.000017. That would represent a 26% gain from current levels.

Support levels traders are watching sit around $0.00001320 and $0.00001279. Key resistance levels lie near $0.00001494 and $0.00001574.

Descending Triangle Points to Reversal

Another analyst, Market Spotter, also sees bullish signs shaping up. According to their review, SHIB appears ready to break out of its long-term consolidation phase. The token has formed a descending triangle, with strong horizontal support around $0.00001050. Descending resistance remains near $0.00002500.

SHIB’s price making higher lows lately backs up the idea of a bullish trend change. A successful breakout above the triangle’s upper line could set SHIB on a trajectory toward $0.00008000. This would be a significant recovery for long-term holders.

This analysis was originally posted on X (formerly Twitter) and is being presented here with permission.

Shiba Inu is a popular meme token that has been known for its volatile price swings. The token’s recent performance could be a sign that the market is becoming more interested in SHIB again. However, it is important to note that technical analysis can be subjective and there is no guarantee that any of the analyst’s predictions will come true.

Keep in mind that traders should conduct their own due diligence and technical analysis to determine the best trading strategies. It’s also crucial to manage risk effectively and never invest more than you can afford to lose.