The cryptocurrency market has shown signs of recovery following a sharp downturn that saw Bitcoin lose over 10% of its value, dropping to approximately $93,000. The decline triggered selling pressure across altcoins, including Shiba Inu (SHIB), which revisited its major support level near $0.0000185.
Despite the market-wide losses, Shiba Inu demonstrated resilience, rebounding 28% from its recent low to trade above $0.0000238. This recovery has sparked optimism among analysts and traders, many of whom predict a substantial rally for the token in the coming weeks.
Analysts Predict Shiba Inu Price Could Surge to $0.00005816
According to a recent market analysis, Shiba Inu price could experience a sharp rise following its strong rebound. The analyst “Dollars Maker” shared insights into a potential 235% surge, projecting SHIB to hit $0.00005816, a level that would surpass its March 2024 peak of $0.00004566.
The analyst outlined a step-by-step target path for the token. Initially, Shiba Inu could achieve a 92% increase to $0.00003339. The next milestone involves a 163% rise to $0.00004566 before ultimately reaching $0.00005816. This bullish outlook reflects the token’s ability to recover quickly from significant price dips, supported by strong trading momentum.
These SHIB price predictions support recent analysis indicating a potential rally to $0.00009 in 2025, driven by major developments and bullish sentiment. Despite the recent whale selloff and a 22% weekly decline, analysts remain optimistic about SHIB recovery from its current inflection point. The community’s confidence in upcoming SHIFU and TREAT tokens, coupled with strong technical and on-chain data, underscores the potential for a price surge
Prolonged Accumulation Near Support Signals Meme Coin Rally
Another critical factor boosting optimism is the prolonged accumulation observed near the $0.00002424 support level. Market analysts believe this consolidation phase provides the momentum necessary for Shiba Inu price to break through key resistance points.
More so, analyst Klejdi Cuni has identified a bullish pattern forming on Shiba Inu (SHIB) daily chart, signaling significant price growth. Despite recent underperformance compared to other top meme coins, SHIB has shown an upward trajectory since September’s trend reversal, marked by consistent higher highs.
Cuni emphasized that the strong support at $0.00002424, maintained for over a month, indicates substantial accumulation. This sets the stage for a potential breakout in the coming months.
Cuni’s analysis outlines key price targets if SHIB breaks out. The first milestone is $0.00003232, reflecting a 25.6% surge from current levels. He also highlighted the $0.00004167 mark, a critical resistance SHIB lost 10 months ago, suggesting a possible 61.6% rise.
Technical analysis by Pouyan TradeFX supports the argument for an impending meme coin rally. The analyst identified a multi-year trendline that has limited Shiba Inu price growth. A successful breakout above this resistance could pave the way for gains exceeding 100%, potentially pushing the token to $0.000074.
At press time, Shiba Inu (SHIB) is trading at $0.00002203, reflecting a 4.10% increase over the past 24 hours. The token’s market cap stands at $12.98 billion, with a 24-hour trading volume of $1.09 billion.
Ronny Mugendi
Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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