Shiba Inu (SHIB) is currently trading at approximately $0.00001263, reflecting a slight decline of 0.015% over the past 24 hours. Despite this minor pullback, SHIB has shown resilience amid broader market fluctuations.
In this article, we will look at Shiba inu price target by looking at price chart and technicals.
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📊 Shiba Inu Price Target
- Current Price: $0.00001263
- 24h Price Change: -0.015%
- 24h Range: $0.00001258 – $0.00001295
- Market Cap: Approximately $7.98 billion
- 24h Trading Volume: Approximately $127.94 million
- Circulating Supply: Approximately 589.27 trillion SHIB
Price is in a Downtrend, although there are some signs of potential trend reversal: breakout from Falling Wedge and Bullish RSI Divergence. Price reached our target of $0.000015 resistance for +25% gain.
We would wait for pullbacks and retest of the $0.000012 key level. This is a riskier trade setup because it’s a trend reversal not a trend continuation setup.
📈 Key Technical Indicators
- Relative Strength Index (RSI): ~52 (neutral)
- MACD: Bullish crossover observed
- Support Levels: $0.00001200, $0.00001150
- Resistance Levels: $0.00001350, $0.00001400
- Current Trend: Sideways with potential for upward movement
📰 Latest Shiba Inu News & Developments
- 🔥 Token Burns
On April 30, 2025, the Shiba Inu community burned 284 million tokens in 24 hours, aiming to reduce supply and increase the token’s value. - 📈 Whale Activity
A significant transaction occurred recently, where a crypto whale accumulated a substantial amount of BONE tokens, a token associated with the Shiba Inu ecosystem. - 🔮 Price Predictions
Analysts anticipate a modest upward movement in the near term. Projections suggest a potential increase to $0.000024 by May 9, 2025.
📌 Summary
Shiba Inu is currently in a consolidation phase, with the price stabilizing around $0.00001263. While technical indicators suggest a neutral to slightly bullish stance. Investors should monitor key resistance levels and stay informed about ecosystem developments.
👉 Short-Term Forecast: Neutral to slightly bullish, contingent on breaking above $0.00001350
📉 Risk Factor: Moderate – due to market volatility and external factors
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