Shiba Inu (SHIB), the popular dog-themed meme coin, has recently shown signs of a major breakout after a period of consolidation and resistance. As of March 25, 2025, SHIB has surged 6% upwards, signaling a potential reversal of its previous market downturn.
Technical analysis experts have identified bullish indicators for SHIB as it successfully broke out of a consolidation zone and a descending trendline that has been a key resistance level since January 2025. The meme coin is now forming a bullish inverted head and shoulders pattern, suggesting a possible recovery from its recent losses.
If SHIB manages to break out of this pattern and close above the $0.0000138 level, there is a strong chance it could see a 50% increase to reach $0.0000205 in the near future. Despite this positive price surge, SHIB has yet to reclaim the 200 Exponential Moving Average (EMA) on the daily timeframe, indicating that it is still in a downtrend.
Currently, SHIB is trading around $0.00001362, with a 7% increase in the past 24 hours. The trading volume has also surged by 55%, suggesting heightened interest from traders and investors following the recent bullish momentum.
Intraday traders seem to share this positive outlook, with data from the on-chain analytics firm Coinglass showing that traders are over-leveraged at levels between $0.0000132 and $0.00001377. Long positions amounting to $300K and short positions totaling $135K have been established in the last 24 hours, further supporting the bullish sentiment for SHIB.
These overleveraged positions indicate that bulls are currently in control and could potentially drive SHIB higher in the coming days. As the meme coin continues to show strength and positive price action, investors and traders are eagerly anticipating further upside potential for Shiba Inu (SHIB).