Shiba Inu ($SHIB ) surged 15% to $0.00001460 on May 9–10, breaking key resistance levels and igniting bullish momentum . The rally followed a technical breakout from a multi-week descending trendline and a falling wedge pattern, with the price reclaiming critical EMAs (20, 50, 100, 200) on the 4-hour chart, signaling a bullish structure.
Key Drivers:
- Technical Breakout: SHIB surpassed the $0.0000135 resistance zone, targeting $0.00001485–0.00001500 next. A sustained close above $0.00001460 could propel it toward $0.000018 (March 2025 highs).
- On-Chain Activity: SHIB’s burn rate spiked 364% in early May, removing 330 million tokens, while trading volume surged to $138 million, reflecting growing investor interest.
- Historical Trends: SHIB has historically rallied 61% on average in May, with notable gains like 355% in May 2021, bolstering seasonal optimism.
Can SHIB Reach $1?
The $1 target remains impossible in May 2025 due to $SHIB ’s 589 trillion circulating supply, requiring a market cap of $589 trillion—over 500x Bitcoin’s current valuation . Even aggressive burns reducing supply to 50 trillion would necessitate a 2,693% surge to reach $0.005.
Short-Term Targets:
Analysts highlight bullish setups like a W-reversal and inverse head-and-shouldersbpattern, targeting $0.000018–$0.000022 if momentum holds. The Ichimoku Cloud and RSI (69) suggest bullish continuation, though overbought conditions may trigger pullbacks to $0.00001365 support.
Market Sentiment:
$SHIB ’s Fear & Greed Index sits at 70 (Greed), with 57% green days in the past month . While $1 is unrealistic, technicals and burn-driven deflationary pressure support a potential 50–100% rally in May, aligning with Shibarium’s ecosystem growth.
.
.