Shiba Inu (SHIB) is once again attracting attention. Notable technical indicators have sparked bullish signs for the memecoin. This is effective as technical analysts point to the potential for a bullish breakout in early May. Notably, one trader has stepped up to set an ambitious short-term target of $0.00004.

Despite slight volatility and a modest decline of 1.4% on the day, SHIB has still increased by 6.1% over the past week, maintaining recent upward momentum and sparking renewed interest among traders.

One of the most intriguing outlooks comes from Trader Mike on TradingView, who has analyzed SHIB's historical patterns to predict future price movements. He reviews SHIB's explosive price surge from late September to October 2021—when the token skyrocketed from around $0.00000600 to $0.00008869.

Trader Mike notes the presence of large bullish candles indicating strong buying interest. He contrasts this with the prolonged downtrend from November 2021 to February 2024, characterized by weaker candles and wicks, which he believes may suggest market manipulation rather than organic selling.

Importantly, despite the prolonged downtrend, Trader Mike has observed continued buying activity, indicating resilient underlying demand. His current analysis identifies $0.00003000 as the key resistance level—referred to as the 'Trend Killer'—that SHIB has struggled to break cleanly in recent months. A successful break of this level could pave the way for explosive gains.

Trader Mike revealed that he entered a long position on SHIB after the bullish daily candle closed on April 9, 2025, around $0.0000167. Since then, he has outlined several liquidity targets, including $0.00004529 (a potential increase of 249%), followed by $0.00004595, $0.00005414, and even $0.00007526 and $0.00008869—a level reminiscent of SHIB's peak in 2021.

Adding to the bullish case, another analyst known as Rose Premium Signals on X has emphasized that SHIB has recently broken out of a descending wedge pattern—a classic bullish reversal indicator. This breakout suggests that an uptrend may be forming, with potential short-term targets of $0.00001510, $0.00001850, $0.00002110, and $0.00002460, all representing significant increases from the current levels.


In addition to technical patterns, market data also supports a bullish outlook. According to CoinGlass, SHIB's futures open interest nearly doubled in April, rising from under $97 million to nearly $190 million by April 27. This increase indicates growing trader confidence as capital flows into long leveraged positions—a typical precursor to strong price volatility.

With the rise in open interest, strong historical support, and emerging bullish technical patterns, Shiba Inu appears poised for a breakout. If the upward momentum continues, a price increase towards the $0.00004 mark could soon not only be speculation—but become a reality.