Shiba Inu is showing renewed bullish momentum after breaking above a critical trendline barrier. Analysts now see a clear path toward a potential 50% rally if the meme coin can overcome the next major resistance zone.
On March 13, SHIB broke cleanly above a short-term downward trendline, reaching an intraday high of $0.00000630. This trendline had suppressed the token's price since the January 5 peak of $0.00001009. The breach signals a shift in market momentum, with buyers asserting control after weeks of bearish pressure.
Following the breakout, SHIB retested the broken resistance, dipping to $0.00000578 before bouncing back. By Monday, the token climbed to $0.00000644, where it met some resistance. Market analyst World of Charts flagged this move on X, describing the price action as a clean break with bullish implications.
The Next Major Resistance Level
With the immediate barrier cleared, attention now shifts to a more significant resistance zone near $0.0000070. This level aligns with a longer-term trendline that dates back to the September 13 high of $0.00001484.
The trendline has consistently acted as a ceiling during SHIB's recovery attempts. In January, a surge to $0.00001009 stalled precisely at this resistance, triggering a fresh wave of selling. The same level is now the defining test for SHIB's next directional move.
Breaking above $0.0000070 would be significant. From that point, a 50% rally would push SHIB past the $0.000010 psychological level. Reclaiming this mark would represent a major milestone for the token and could attract broader market attention.
The resistance is not simply a price point, it reflects a structural barrier that has shaped SHIB's trend since late 2024. A confirmed breakout would signal that the broader downtrend is reversing. Until that happens, cautious optimism remains the appropriate stance.
Weekly Chart Adds Context
A separate analysis by market watcher Leeron Shim highlights SHIB's positioning on the weekly timeframe. The token is holding near the lower boundary of a falling wedge pattern. This structure typically precedes a bullish reversal when confirmed by sustained price action.
Last week, SHIB recorded its first green weekly candlestick since early January. The 12.3% gain saw bulls defend the wedge's lower support line aggressively. That response suggests institutional or large-scale buyers are active at these levels.
Shiba Inu is currently trading at around $0.00000603, down 1.28% in the last 24 hours.
