Shiba Inu $SHIB could be gearing up for a massive breakout, with technical analysts eyeing a potential 293% surge if it clears the crucial $0.00003000 resistance level. The meme coin is currently trading around $0.00001553, but growing momentum and on chain data suggest a bullish reversal may be near.

SHIB Targets $0.00008845: Can It Really 3X?

Analysts like Shib Spain on X have mapped out a bullish chart pattern indicating a possible jump to $0.00008845 nearly 3x from current levels. The key lies in SHIB’s ability to break past $0.00003000, a major resistance that historically triggered selling pressure.

If SHIB manages to close a weekly candle above that level, it could spark FOMO and attract swing traders looking for explosive gains. Rising trading volume and tightening trend lines are further fueling the breakout narrative.

SHIB Burns Heat Up: Over 23M Tokens Gone in 24 Hours

In a bullish twist, Shibburn reported over 23.7 million SHIB burned in just the past 24 hours a 74.86% surge in daily burn volume. Although the total circulating supply remains massive at over 589 trillion, this uptick in burns reflects growing community support and long-term optimism.

Meanwhile, SHIB's market cap rose to $9.15 billion, posting a 1.14% gain on the day and signaling revived investor interest in meme-based assets.

Technicals Flash Green: MACD and RSI Fuel Breakout Buzz

SHIB’s weekly MACD just crossed bullish for the first time since its 2023 rally, with the histogram now positive a classic signal that bulls are gaining control. The RSI stands at 58 and climbing. If it crosses 65, traders believe a sustained rally could follow.

Moving averages are also aligning bullishly. A potential golden cross between the 50-week and 200-week MAs could be the next catalyst. Volume spikes during green candle weeks show aggressive accumulation at support levels.

Path to $0.0001: What SHIB Needs to Deliver

To reach the coveted $0.0001 milestone, SHIB must confirm a breakout above $0.00003000 with strong volume and follow-through. Whale activity, continued token burns, and broader crypto market momentum will also play key roles.

As meme coin mania starts to build again, Shiba Inu could be on the verge of its next major move. If the technicals hold and social buzz returns, a new all-time high may not be far off.