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- Shiba Inu (SHIB) started 2025 with renewed market momentum, trading at $0.000022 zone after a 12% 24-hour surge.
- SHIB surged 114% in 2024, ending the year strong despite a tough December.
Shiba Inu (SHIB), the dog-themed memecoin, has emerged as one of the standout performers in the cryptocurrency market since the start of 2025. As the global crypto market displayed a positive trend, SHIB has been making significant strides, continuing its strong upward momentum with an impressive 115% growth throughout 2024.
Shiba Inu’s performance has seen a series of two price jumps—one in March, following the Bitcoin halving event, and a second surge occurred after Donald Trump’s victory, which continued till the start of December. However, since then SHIB’s price action was less favorable, with the memecoin seeing a 25% drop over the month.
A broader one-month decline was partly due to significant whale activity and a major outflow. That includes a dormant whale that makes large withdrawals of 220 billion SHIB (worth $4.63M) from Binance.
Despite this, the token has made a solid recovery, with nearly a 12.4% surge in the past 24 hours helping to reverse some of the previous losses. Also, Shiba Inu’s long-term performance paints a positive picture.
Most years have ended on a high note, with 2022 being the only exception, where SHIB saw a sharp 85% drop. In the previous year (2021), SHIB soared over 2500%—hit ATH. Following 2023, the token made a strong comeback and gained 30%. And now 2024 SHIB shows three-digit gains with continued growth.
Shiba Inu’s Technical Outlook and Key Price Levels
At the time of writing, SHIB is priced at $0.00002308 and holds a market cap of $13.6 billion. Key technical indicators suggest a strong bullish outlook for the token.
On the SHIB/USDT 4-hour trading pair, SHIB’s price being above all key Ichimoku levels indicates a strong bullish trend with significant market momentum. Further, the BBPT Bull Power is at 5.21, and Bear Power is at -2.0; buyers are clearly in control, while an RSI of 62 suggests room for further growth before reaching overbought levels.
Additionally, the MACD is above the signal line, further confirming the strong upward trend for SHIB. The top of the Ichimoku Cloud is now acting as a support zone for Shiba Inu. Based on the current technical indicators, the next potential target levels for Shiba Inu (SHIB) could be as follows:
- Immediate Resistance: $0.000025—Key Fibonacci retracement and previous price action zone.
- Short-Term Target: $0.000030—A psychological level with potential selling pressure or breakout opportunity.
- Extended Target: $0.000035—Aligns with recent peaks and bullish projections—where Shiba Inu could encounter a major test of its bullish trend.
If SHIB fails to hold foot above $0.000020, it could face:
- Immediate Support: $0.00001978—Top of the Ichimoku Cloud, offering solid support.
- Secondary Support: $0.00001708—Previous consolidation zone for regrouping.