Shiba Inu (SHIB) has garnered attention within the crypto market as it embarks on what could be a bullish run in 2025. Following a strong performance in the latter half of 2024, many analysts are optimistic about SHIB’s future.
They forecast that it may reach new price levels next year. Recent trends suggest strong upside potential for Shiba Inu. Could 2025 be the year it hits the target range of $0.0000743 to $0.0000888?
2024 price action sets the foundation for Shiba Inu growth
The price action in 2024 was pivotal in shaping SHIB’s outlook for 2025. In particular, the token’s movement in the second half of the year validated earlier resistance predictions. This set the stage for further price appreciation.
One of the most significant developments was the price breaking above a key Fibonacci retracement level, marking the 50% retracement as a “secular breakout point.”
This point, where SHIB experienced a sharp rally, was followed by a brief pullback. Many analysts interpret this as a healthy consolidation phase before another potential surge.
Volume Declines, but market cap remains strong
Although SHIB’s price has increased in the past 24 hours, trading volume has decreased by 9.91%, totaling $493.96 million.
This decline in volume suggests that prices are growing, but market activity is decreasing. This could indicate that the market is now consolidating. Nevertheless, this token’s overall market capitalization still stands at $12,99 billion, which indicates that Shiba Inu still occupies a considerable position in the market.
With a circulating supply of 589.25 trillion SHIB, the token remains highly accessible to investors, making it an attractive option for those looking to capitalize on potential price increases.
Consolidation and technical indicators point to bullish sentiment
As of now, Shiba Inu is in a consolidation phase, which is reflected in the triangular price pattern on the charts. This pattern could suggest that a breakout is imminent, with SHIB preparing for a potential move upwards.
The Relative Strength Index (RSI) is reasonably in the middle position with a bearish zone mark of 51.46. Such positioning suggests a fairly well-balanced market regime where the bulls are not in total control, as with the bears. The RSI’s recent rise from 40.52 also suggests a slight bullish momentum, which could translate into short-term gains as the price moves toward higher levels.
The MACD indicator supports this bullish sentiment by suggesting that the tide of the stock is turning to the bulls. In the current individual chart, the MACD line crossed above the signal line in the recent past, giving a hint of a change in the tide in favor of the bulls. Moreover, the histogram that measures the strength of the price movement is colored green depending on its position, which indicates upward pressure.
