Shiba Inu Price Up 6%: Could Massive Rise Be Next?

Shiba Inu (SHIB) has shown signs of a potential rally, fueling optimism in the crypto community. With SHIB price at $0.000024, up 6.29% in the last 24 hours, there is optimism that a rally could be on the horizon.

Market optimism and pro-cryptocurrency sentiment

Additionally, market sentiment is supported by expectations of a pro-crypto administration led by former President Trump coming to power in the US.

Expected policy changes, such as the creation of the Bitcoin Strategic Reserve, could inject significant liquidity into the market, potentially leading to higher prices for assets such as the Shiba Inu. Consequently, SHIB’s fundamental and technical indicators indicate potential for further gains in the coming weeks.

Current market dynamics and indicators

Currently, SHIB is showing a slight decline of 0.20% from the previous day’s close. This minor pullback follows a recent recovery phase after a sharp decline in November and early December. Although price action has been relatively subdued, there is still hope for further growth.

Technical indicators:

• The Relative Strength Index (RSI) is at 52.80, indicating a neutral market – neither overbought nor oversold – indicating balanced dynamics with room for further movement.
• The moving average convergence divergence (MACD) showed a bullish crossover, with the blue line moving above the orange signal line, indicating potential upward momentum.

Read also: Increase in Shiba Inu prices in 2025: growth forecast of 264%

Key support and resistance levels

For traders, SHIB price movement depends on critical support and resistance levels:

• Support Levels: SHIB price finds strong support at $0.00002000, a psychological threshold that has historically attracted buying interest. Failure to sustain above this level could lead to a deeper correction towards $0.00001850.
• Resistance Levels: On the other hand, SHIB faces resistance at $0.00002500, a level that has proven challenging in recent weeks. A break above this level on significant volume could set the stage for a move towards the $0.00003000 zone, a resistance level last tested in October.

Shiba Inu price forecast for 2025

Looking into the future, the price of SHIB could rise even further as the market matures. Changelly blog analysts suggest that by 2025, the minimum price of a Shiba Inu could reach $0.000027, with a potential maximum price of $0.000033. The average price is expected to hover around $0.000028, reflecting modest but steady growth.