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.
SHIB Price Track 2024 Source: ( CMC)
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.
Shiba Inu (SIB) Price Chart (Source: TradingView)
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.
Highlighted Crypto News Today
Are Whales Setting the Stage for a New Dogecoin Rally?
