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Shiba Inu finishes April with a 7% gain, breaking through $0.000012 and testing $0.0001343
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SHIB’s technical patterns suggest that it may target $0.000017, with a 26% potential upside ahead
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Analysts forecast SHIB surge to $0.00008000 if confirmed
Shiba Inu’s (SHIB), which closed April 2025, made significant progress and created a wave of millionaires. Shiba Inu held its ground despite the 10.31% rise in the crypto market.
The token recorded a respectable monthly gain of 7%, surpassing the $0.000012 barrier for a brief time and briefly testing $0.00001343. This performance coincided with Bitcoin’s surge to $95,000, which helped boost investor confidence in altcoins.
Breakout of a Falling Wedge Fuels Optimism
SHIB’s recent price movement has caught the attention of several technical analysts. SHIB KNIGHT highlighted a falling wedge on the SHIB/USDT charts. This setup is usually indicative of a reversal following a long downtrend. The wedge pattern shows SHIB price tightening inside downward-sloping trends lines, indicating a breakout near.
SHIB KNIGHT’s analysis showed that SHIB was trading at $0.00001335 when it came to the breakout level. If the move is confirmed then SHIB may target $0.000017. This would represent a 26 percent increase from current levels.
The support levels that traders are looking at are $0.00001320 to $0.00001279. The key resistance levels are near $0.00001494 & $0.00001574.
Related: Shiba Inu analysts target $0.0000236 after 280 million tokens burned
Reversing Triangle Points by Descending Triangle Points
Market Spotter is another analyst who sees signs of bullishness. According to their review SHIB seems to be ready to break free from its long-term phase of consolidation. The token has formed an descending triangle with a strong horizontal support at $0.00001050. The descending resistance is still near $0.00002500.
Recent price increases in SHIB support the idea of a bullish change in trend. SHIB could be on a path towards $0.00008000 if it successfully breaks out above the triangle’s top line. This would be a significant return for long-term investors.
Related Shiba Inu Price Prediction for May 2025 – Will SHIB Breakout?
Market activity shows growing interest
SHIB’s Market Cap is still $7.91 Billion, despite a 5.01% drop over the last week. Coinglass derivatives volume fell by 5.09%, to $116.78 millions. However, open interest increased slightly to $179.49million. This combination of lower volume and increased open interest can indicate traders are positioning themselves for a major price movement.
