Shiba Inu Prediction: Is SHIB Rebound Just a Dead Cat Bounce

Shiba Inu Price Prediction 2025 forecasted near $0.000060

• #Shiba Inu saw a surge in price on Friday, May 3, credited to its integration with Paypal, marking a significant milestone in the market.

• Reversing from a crucial support level of $0.00002057, $SHIB displayed resilience around the psychological barrier of $0.000020.

• The daily chart of $SHIB shows the formation of a morning star pattern, hinting at a potential bullish reversal and readiness to breach the overhead resistance trendline.

• Bullish divergence is noticeable in the daily RSI line, strengthening the observed double-bottom reversal pattern.

• After finding support and reversing from the 100-day EMA, SHIB is now favorably positioned to surpass the 50-day EMA.

• As per trend-based Fibonacci levels, the meme coin may target the 50% Fib level at $0.00003200.

• According To Coingabbar analysis, In the event of a bearish trend, SHIB may gravitate towards its support level of $0.0000200.

KEY LEVELS :

RESISTANCE LEVEL : $0.00003000-$0.00004500

SUPPORT LEVEL : $0.000018000-$0.000012000

Disclaimer: Coingabbar's guidance and chart analysis on cryptocurrencies, NFTs, or any other decentralized investments is for informational purposes only. None of it is financial advice. Users are strongly advised to conduct their research, exercise judgment, and be aware of the inherent risks associated with any financial instruments. Coingabbar is not liable for any financial losses. Cryptocurrency and NFT markets could be highly volatile; users should consult financial professionals and assess their risk tolerance before investing.