Shiba Inu (SHIB) is back in the spotlight as traders question whether the meme-inspired cryptocurrency can finally smash past stubborn resistance and ignite a rally toward the highly anticipated $0.0001 mark.

After weeks of sideways movement, Shiba Inu price action has shown signs of renewed strength. With whales accumulating, Shibarium activity growing, and technical signals aligning, SHIB’s outlook has once again become a hot topic across crypto markets.

What the Charts Reveal

Shiba Inu’s technical setup is beginning to show encouraging signs. Analysts note that SHIB has broken above a descending resistance line, a move that typically signals renewed buying pressure. A consolidation zone has formed just above the breakout, often seen as an accumulation phase before the next leg upward.

Shiba Inu ($SHIB) is gearing up for a potential mega rally with $0.0001 emerging as the next key target. Source: SHIB Mortal via X

Clear upside targets are forming, with $0.000016 identified as the first checkpoint, and if momentum continues, the path toward $0.0001 may become achievable.

Shiba Inu’s test is to record a convincing close above the 200-day simple moving average (SMA), a long-term indicator that typically dictates bullish or bearish times in the market. Important resistance is currently at $0.00001306, with good support levels established at $0.00001270.

Why the Rally Matters

This potential breakout comes as broader crypto sentiment remains firm. As Bitcoin and other large-cap altcoins gain traction, capital starts to move into meme tokens like Shiba Inu. The SHIB ecosystem has also benefited positively from developments in Shibarium, its layer-2 scaling solution. With more than 1.2 million transactions per day, Shibarium is helping SHIB overcome its meme label through utility growth.

At the same time, Shiba Inu whales have been seen accumulating tokens, a tendency that is likely preceded by major price movements. On-chain analytics show that SHIB open interest rises by 4%, which indicates rising activity among institutional and retail traders alike.

Challenges Weighing on Shiba Inu

Despite the optimism, however, Shiba Inu has significant challenges to overcome. Token burn attempts, designed to limit supply, have not delivered. Although over 410 trillion SHIB tokens have been burned since 2021, the circulating supply still sits at approximately 589 trillion. Burn activity was recently seen to rocket by 1,600% in a single day, but the long-term effect is still muted.

Additionally, the meme coin market has become increasingly competitive. New players like Pepenode, which conducted a presale capital raising of nearly $1 million, are attracting investor interest with new stories and staking ability. This has watered down attention from more classic meme coins, with SHIB struggling to maintain the same hype it enjoyed previously.

Shiba Inu Price Forecast: What’s Next?

In the meantime, the question on the table is whether Shiba Inu can achieve and sustain a breakout above the 200-day SMA. Success here could open the door to further levels of resistance, possibly rekindling belief in a long-term Shiba Inu price prediction 2025 target above $0.000025 and, hopefully, an itinerary to $0.0001.

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Shiba Inu is consolidating near $0.00001100 with higher lows, positioning for a potential breakout if resistance is cleared. Source: DaveOcean on TradingView

However, a failure to breach above resistance could drag SHIB back into consolidation, frustrating holders who are still asking, “Will Shiba Inu coin reach $1?” Experts caution that while a price target of $1 is not on the horizon in the near future, incremental increases based on ecosystem growth can brighten Shiba Inu’s outlook.

Final Thoughts

The Shiba Inu perspective is also mixed. Whale accumulation and technical indicators indicate a possible bull reversal, but competition, weakening hype, and supply dynamics pose threats. For investors and traders, the next few days will be pivotal in deciding if SHIB’s recent surge is the beginning of a lasting upsurge or another fleeting rally.

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Shiba Inu was trading at around $0.00001306, up 1.38% in the last 24 hours at press time. Source: Brave New Coin

Shiba Inu has the potential to move higher, but without sustained momentum, reaching $0.0001 will likely remain out of reach.