Shiba Inu cryptocurrency market value surges to $8.13 billion amidst a 12% price increase.
Here's a lowdown on Shiba Inu (SHIB), one of the most popular meme coins in the crypto world. As of April 29, 2025, SHIB is trading approximately $0.00001363, with a market cap of around $8.13 billion.
Breaking Out of the Descending Trendlines
SHIB has managed to break free from a two-year-long descending wedge pattern formed since March 2024. This breakout signals the end of a long-term corrective structure that had been suppressing prices.
Technical Analysis Suggests Upside Momentum
Technical analysis reveals SHIB has completed a large WXYXZ correction within this pattern, with wave (v) currently in progress. If wave (v) follows the typical Elliott Wave pattern, SHIB could target the 1.618 Fibonacci extension at $0.00001490 or possibly the 2.0 extension at $0.00001570.
Key Resistance and Support Levels
The current battle zone for SHIB lies between $0.00001265 and $0.00001516. This range has acted as both resistance and accumulation since March 2024. A decisive breakout above $0.00001516 would fully confirm the bullish reversal many traders are watching for.
SHIB's ability to hold above $0.0000126 remains an early sign of strength for bulls. This level represents the 0.5 Fibonacci retracement of the current impulse wave.
Market Resilience Despite Hacker Activity
Recent hacking activities have added some risk to the SHIB market. In early April 2025, around 150 billion SHIB tokens were dumped by hackers, with over 1,050 Ether funneled through TornadoCash. Despite this negative pressure, the market has shown surprising resilience.
Analysts attribute this resilience to underlying demand absorbing the selling pressure, which has encouraged them to maintain their bullish outlook on the token.
A Low-Risk, High-Reward Opportunity
The current setup offers bulls a relatively low-risk entry near current levels with tight invalidation points. As long as SHIB stays above $0.0000126, the structure of higher lows remains intact.
If SHIB can overcome resistance at $0.0000145, analysts have set upside targets at $0.00001795 by late April and potentially $0.00003039 by early May. These targets would represent a 124% gain from current prices.
However, failure to break above $0.00001418 in the coming sessions could trigger another retest of support levels before resumption of the uptrend.
The Future of SHIB: Beyond 2025
Looking further into the future, experts predict SHIB reaching a maximum near $0.000026 in 2025 and possibly $0.000033 in 2026, reflecting bullish momentum phases consistent with impulsive Elliott waves and Fibonacci extension targets.
Beyond 2026, Fibonacci extensions applied to Elliott Wave counts forecast further higher targets as SHIB potentially completes higher-degree impulsive waves:
- Around $0.000081 by 2028
- Between $0.000097 and $0.000115 by 2029
- Near $0.000141 to $0.000172 by 2030
- $0.000208 to $0.000245 expected by 2031, with an average price near $0.000215.
These levels align with the notion of SHIB progressing through higher Elliott Wave cycles where Fibonacci extension levels (such as 161.8% or 261.8%) mark natural resistance and price targets before corrective waves.
In summary, SHIB's Elliott Wave and Fibonacci extension analysis reveals current price targets in the range of $0.00002 to $0.00003 by 2026, with potential for significant long-term appreciation reaching above $0.0002 by 2031 if bullish waves unfold as anticipated.
Disclaimer: The above is for informational purposes only. Please consult a financial advisor before making investment decisions.
As Shiba Inu (SHIB) shows strong potential with its recent breakout from a descending wedge pattern, technology plays a significant role in facilitating this crypto finance phenomenon. Investors are increasingly looking at SHIB as a low-risk, high-reward opportunity, with analysts projecting price targets as high as $0.000033 by 2026. The future growth of SHIB could be further influenced by advancements in technology, making it an exciting prospect for those invested in the intersection of finance and technology.
