- SHIB forms an inverse head & shoulders pattern; a breakout above $0.00001500 could signal a 512% surge to $0.000081.
- April rebound sees SHIB climb by 6.36% as Bitcoin tops $93K, supported by a MACD bullish crossover and RSI at 56.17.
- Burn rate spikes by 1,361% in 24h, suggesting renewed interest, though market cap fell by 4.03% to $7.79B amid mixed sentiment.
Shiba Inu’s price action has been closely tied to broader market shifts since late 2024. Although the crypto market saw a bullish wave from November 2024 to January 2025, following President Donald Trump’s election win, SHIB began declining earlier than most.
By December 2024, while Bitcoin and others surged, SHIB began a downward spiral. From December through March 2025, its value dropped by approximately 69%, indicating sharp investor caution. However, April brought a modest rebound. As Bitcoin reclaimed highs above $93,000, SHIB gained 6.36%, showing renewed short term momentum.
Volume Data and Burn Activity
According to data from Shibburn, SHIB’s total supply is at 589.25 trillion tokens. Meanwhile, its market cap has declined by 4.03%, now at $7.79 billion.
HOURLY SHIB UPDATE$SHIB Price: $0.00001323 (1hr 0.00% ▲ | 24hr -3.81% ▼ )
— Shibburn (@shibburn) April 24, 2025
Market Cap: $7,799,089,313 (-4.03% ▼)
Total Supply: 589,252,031,456,010
TOKENS BURNT
Past 24Hrs: 27,824,895 (1361.43% ▲)
Past 7 Days: 98,546,986 (-25.15% ▼)
However, the 24 hour burn volume spiked by 1,361.43%, with 27.8 million tokens removed. Weekly burn volume fell by 25.15%, totaling to 98.5 million tokens. These changes suggest a mix of renewed activity and hesitation among holders.
Supporting the possible bullish case, analyst Javon Marks identified a large inverse head and shoulders pattern forming over years. This pattern, if confirmed, could lead to a breakout of over 512% from current levels, with a potential target at $0.000081.
Support and Resistance Levels
Pattern details show a left shoulder forming between May and August 2022. A lower head formed from October 2022 through February 2023. The right shoulder developed more recently, between November 2024 and March 2025, with support near $0.00001200.
This zone, highlighted as a neckline, is a key support and potential breakout level. If SHIB decisively clears this area with volume, the target becomes $0.00004891. This is a possible 3 to 4 times move from the current price.
Current price action shows consolidation above $0.00001300. A recent rally from $0.00001000 to above $0.00001300 indicates short term bullishness. However, the latest red candle hints at profit taking or resistance near $0.00001400.
Technical Indicators Show Strength With Caution
The RSI value is at 56.17, showing neutral to bullish momentum. It’s not overbought but stays above the midpoint. A peak followed by a slight decline in RSI indicates potential consolidation ahead.
Meanwhile, MACD shows a bullish crossover. The MACD line at 0.00000022 has crossed above the signal line at 0.00000012, with a positive histogram. This supports the short term upward trend.
Price now trades around $0.00001309. If SHIB climbs above $0.00001500, the inverse head and shoulders setup may gain more strength. However, a drop below $0.00001250 could invalidate this structure, leading to renewed downward pressure.
