Shiba Inu Price Soars 6% as Analyst Eyes 12x Move – Can SHIB Break Past $0.000019 Barrier?

Highlights:

• Shiba Inu price rebounds 6% to $0.000012 as the crypto market recovers. 
• The analyst highlights a potential 12x surge in the SHIB market.
• The recent surge in long orders, reflected by increasing open interest, indicates buyers are regaining market control. 

Shiba Inu’s price has rebounded 6% to $0.000012 as the crypto market recovers. However, its daily trading volume is still down 33% to $297.67M, indicating a fall in market activity. The recent rebound has stirred optimism around the SHIB market, with analysts and investors highlighting a rally soon. 

CryptoElites, a well-known analyst, has highlighted a potential 12X surge in SHIB price. The analyst has pointed out that Shiba Inu is in a strong buy zone, indicating a big move soon. 

Why Not a 12X for SHIB? 🐕

We're sitting in a strong buy zone, and a big move is coming soon!

Are you ready? 👀#SHIB $SHIB #Shiba $Shiba pic.twitter.com/qTht9P5qFf

— @CryptoELlTES (@CryptooELITES) March 12, 2025

The Shiba Inu price has rebounded strongly, surging 6% to trade at $0.000012 as the crypto market attempts a recovery. The price is within a well-defined falling wedge channel, with the nearest resistance at $0.000015 and the nearest support at $0.000011. The 50-day MA at $0.000015 has crossed below the 200-day MA at 0.000019, indicating a death cross. This suggests intense selling pressure as the bulls try to regain dominance.

However, the price has recently tested the channel’s lower boundary and is attempting to rebound. Suppose the bulls sustain the price above the 50-day moving average, they could trigger renewed buying strength. In that case, there is a strong possibility that the meme coin will push toward the $0.000019 resistance level, where a breakout could trigger further upside potential.

Can SHIB Price Breakout to $0.000019 Barrier?

From a technical perspective, Shiba Inu’s price oscillates between $0.000012 and $0.000015, showing signs of consolidation. However, the recent surge in long orders, reflected by increasing open interest, indicates buyers are regaining market control. 

On the bullish side, suppose the bulls hold above the $0.000015 mark; they could ignite buying interest, rallying toward the next barrier at $0.000019. However, the declining volume in recent sessions suggests some indecision among traders, meaning that a breakdown below the current price levels could invite some selling pressure. If sellers push the price below the $0.000011 support level, the market structure may turn bearish, potentially leading to deeper declines.

Meanwhile, the next move will depend on whether SHIB can sustain momentum above the moving averages. A strong push toward the $0.000015 resistance zone would confirm bullish control, and breaking above this level could open the door for higher price targets toward the resistance levels of $0.000019, 0.000021, and 0.000024. On the other hand, if $0.000011 fails to hold as support, traders should be cautious of a potential retest to lower levels which could signal a deeper pullback.

Technical Indicators Show Potential Bullish Reversal

A zoomed-out view of the technical indicators shows a potential rebound soon. The Relative Strength Index (RSI) Divergence indicator currently sits at 38.97. Though it is still undervalued, its northbound momentum shows a potential rally above the 50-mean level.

A breakout above the 45 level would validate the bullish thesis. In the meantime, a decisive break above the moving averages would signal renewed bullish strength. The current uptrend remains intact, but traders should watch for increased volume and momentum confirmation to determine the next significant price direction.