Shiba Inu Finally Breaks Through Multi-Year Resistance... "Time for a 100% Rally to Begin"

▲ Shiba Inu (SHIB)/ChatGPT generated image

Shiba Inu (SHIB) has broken through the resistance line of a multi-year downtrend channel and is preparing for a full-fledged rally towards new price targets.

The Crypto Basic reported on April 28 (local time) that SHIB has broken through a major resistance zone and is currently undergoing a successful retest. SHIB has risen 3% in the last 24 hours, trading at around $0.00000621. This rebound is the result of breaking through the upper resistance line of a multi-year downtrend channel that has been in place since November 2025. Analysts evaluate this structural change as a complete shift from a downtrend to an uptrend.

Technical indicators also support SHIB's strong upward momentum. The Moving Average Convergence Divergence (MACD) is currently forming a histogram in the positive territory, signaling a buy. The Relative Strength Index (RSI) is at 55, demonstrating sufficient room for further gains before entering the overbought zone. In particular, the price is pushing towards the upper Bollinger Band at $0.00000625. This indicates that market participants' buying confidence is gradually strengthening.

Key variables for this rally are the rapidly increasing burn rate and whale accumulation. SHIB's daily burn rate recently surged by 3,230%, rapidly reducing the circulating supply in the market. Simultaneously, a 'whale drain' phenomenon has been observed, where large investors (whales) are moving trillions of SHIB from exchanges to private wallets. This supply shock acts as a catalyst to accelerate price increases. The decrease in available supply on exchanges is highly likely to cause explosive price movements when buying pressure enters the market in the future.

Market experts have set SHIB's short-term price target in the range of $0.00000785 to $0.00000821. If this range is decisively broken, the next target expands to $0.00001038 to $0.00001261. This represents an expected return of approximately 100% or more compared to the current price. As long as the strong support level formed around $0.00000600 is not breached, the bullish scenario is expected to remain valid.

SHIB has entered a new price formation zone through a combination of strengthening fundamentals and technical indicators. The positive correlation between price and burn data proves the robustness of this upward cycle. Market participants are watching for a breakthrough of $0.00001261, observing the start of SHIB's anticipated record-breaking surge. SHIB is now firmly recognized for its value as a digital asset driven by real supply and demand laws, beyond being just a meme coin.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*