SHIB Price Could Surge if It Breaks $0.000016 — Here’s What You Need to Know!

by

Oh, SHIB, you cryptic little canine—now trading at a humble $0.000014. It’s like a rollercoaster, but without the fun part. Everyone’s buzzing because we’re at a crossroads. Will we break through the $0.000016 resistance level and get all pumped up, or are we stuck in the crypto equivalent of traffic? Hold your breath, folks, we might just be on the edge of something BIG… or not. 🙄

SHIB’s Holding On Like a Dog with a Bone

Yes, the broader market’s been throwing tantrums lately, with SHIB down 4% in the last 24 hours. It’s not pretty. In fact, over the last week, it’s fallen by almost 20% after playing hard to get at $0.00001740. But here’s the thing—SHIB is hanging on like your friend who refuses to leave the party even when everyone else has gone home. Will it rebound? Maybe! Analysts are cautiously optimistic. 😏

it might have just finished a confusing W-X-Y-X-Z correction, and now it’s ready for a new bullish wave—assuming it doesn’t face-plant below $0.00001160. Keep those fingers crossed! 🤞

On-Chain Metrics Are Saying ‘Hello, Bottom’

Now, if you’re a data nerd, here’s your moment. SHIB’s Market Value to Realized Value (MVRV) ratio is looking like it might be hitting those “buy me now” levels, historically signaling price bottoms. Back in Q3 2024, we saw this and bam—128% rally. If history’s on our side (which, let’s be real, it usually isn’t), SHIB could blast off towards $0.000032. 🌕

And hold up—there’s more! On-chain transaction volumes in loss have plummeted, from 5 trillion SHIB to under 600 billion. Sounds like the sellers are tired. CoinGape even mentioned that capitulation has “subsided,” meaning less selling pressure. So, maybe, just maybe, it’s time for a recovery? 🤷‍♀️

Technical Indicators: Bullish, But Don’t Get Too Excited

Charts are flashing bullish signals! The Chaikin Money Flow (CMF) is rising as SHIB’s price falls—this is classic accumulation behavior. Smart money is in the house! Plus, the Average Directional Index (ADX) shows the bearish power is dropping like a rock. Could be a reversal in the making, but don’t start popping champagne yet. 🍾

SHIB’s got an ascending triangle forming—a bullish pattern that could send it to $0.000016. If it breaks above that? Look out—$0.000022 and beyond could be next. Who knew a meme coin could have such a promising chart? 🔥

“Watch for a reclaim of $0.00001430,” says CoinEdition’s report. If that happens, we could be entering phase two of the rally. Or it could just be wishful thinking. You decide. 🙃

Bearish Pressure Still Knocking

Despite all the shiny, optimistic signals, don’t get too comfy. SHIB’s still breaking below its ascending trendline on the 4-hour chart, and now it’s facing resistance at $0.00001510. Plus, the momentum indicators like RSI and MACD are still on the bearish side. So maybe… just maybe… don’t go all-in yet. 🧐

If the $0.00001380 support level doesn’t hold, we could be looking at a potential drop to the $0.00001280–$0.00001200 range. Yup, not fun. And with Bitcoin and Ethereum both having a rough time, SHIB might be feeling a little more vulnerable than usual. Sorry, SHIB fans, but meme coins are like that—always the drama queen of the crypto world. 😬

The Moment of Truth

So here we are. SHIB’s either going to soar or take a nosedive. All eyes are on that $0.00001380 support and the $0.000016 resistance. A nice bounce from support could reignite bullish momentum, but if it dips below $0.00001200? Forget it, we’re back to square one. If it breaks $0.000016, we might just be looking at a wild ride to $0.00001930, $0.00002196, and who knows, maybe even $0.00002460. Get your popcorn ready, folks. 🍿

For now, SHIB’s hanging in the balance—caught between smart money, historical patterns, and the faint hope of a bullish future. Let’s just hope it doesn’t mess this one up. 😬

Read More

2025-05-20 00:22