Shiba Inu (SHIB) Gathers Strength as Momentum Builds for Another Big Rally

• SHIB completed a WXYXZ correction and broke bullish.
• Wave (v) is in progress, with $0.00001570 as the next target.
• Holding $0.00001265 support is crucial for upside continuation.

Shiba Inu (SHIB) has emerged from a prolonged downtrend, forming a complex WXYXZ correction on the higher time frame.

The price has broken out of a descending wedge pattern, moving into a new impulsive wave structure.

With momentum building and multiple Fibonacci levels being respected, SHIB appears ready for another uptrend.

Both long-term recovery prospects and short-term trade setups align for bullish continuation if key supports hold.

SHIB Price Analysis

The 4-hour chart shows SHIB formed a large WXYXZ correction within a descending wedge pattern completed on April 7 at 0.00001030.

This pattern broke out of the descending structure on March 15, signaling the end of the long-term corrective structure.

But despite the breakout, SHIB formed a double bottom before revisiting its high at key horizontal resistance.

After bottoming out at $0.00001030, SHIB rallied strongly and is now retesting in a zone between $0.00001265 and $0.00001516, aligning with the 0.786 Fibonacci level at $0.000015.

Since March, this range has acted as both a resistance and accumulation zone and now serves as the battlefield between bulls and bears.

SHIB’s ability to reclaim and hold above $0.00001265 is an early sign of strength, though a clean breakout above $0.00001516 would fully confirm the bullish reversal.

The Relative Strength Index (RSI) on the 4-hour time frame is trending upward but remains below overbought territory, suggesting that further upside is possible.

Key invalidation remains at $0.00001265, below which SHIB could retest $0.00001078 or lower supports at $0.00000687 if weakness resumes.

The macro trend has now flipped cautiously bullish, and with rising momentum and structural support at current levels, SHIB is poised for a potentially sustained move higher.

SHIB Price Prediction

The 1-hour chart offers a clear Elliott Wave impulse structure in its fifth wave.

After completing wave (iii) at $0.00001525, SHIB retraced to wave (iv) to a low of around $0.00001317.

This aligns with the previous structure and confirms that the pullback was healthy and expected.

Currently, SHIB is beginning the final wave (v), which could target the 1.618 Fibonacci extension at $0.00001490 or even the 2.0 extension at $0.00001570 if momentum accelerates.

A sustained move through $0.00001418 (0.272 Fib) would be the first confirmation of this continuation.

RSI has reset from its previous peak, hovering around the neutral zone, leaving room for upward movement.

However, if the price fails to break above $0.00001418 in the next few sessions, another retest of the $0.00001317–$0.00001282 zone may occur before any further upside.

The bullish scenario remains dominant unless SHIB breaks below $0.00001257 (0.5 Fib of the current impulse).

From a trading perspective, this setup favors bulls with a low-risk entry near current levels and tight invalidation.

Key Levels to Watch

• Major Support: $0.00001317 (0.786 Fib), $0.00001257 (0.5 Fib).
• Immediate Resistance: $0.00001418 (0.272 Fib).
• Breakout Confirmation: Break and hold above $0.00001516.
• Invalidation Level: Drop below $0.00001257 ends short-term bullish count.