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An analyst has projected the next resistance level for Shiba Inu in a scenario where Bitcoin maintains its price above the psychological $100,000 level.
Shiba Inu’s price spiked notably on June 3, reaching $0.0000134 before steadily declining. As of today, it has fallen to approximately $0.0000124. Amid this volatility, recent analysis shows that SHIB’s price movement remains within a longer-term bearish trend.
Shiba Inu Facing Resistance at Key Trendline
A TradingView analysis by MMBTtrader shows that Shiba Inu’s price remains under significant bearish pressure due to a descending trendline. Notably, this trendline has acted as consistent resistance since early 2024.
After the asset dropped from $0.000045, this trendline has rejected rally attempts, preventing SHIB from establishing higher highs. Most recently, SHIB attempted to surpass the resistance around $0.000033 but failed, retracing to a local support zone at $0.000010083.
The technical analysis suggests that SHIB’s price must break above this dynamic resistance to initiate a sustained bullish rally. A breakout above the trendline, now around $0.00002013, could lead to larger bullish candles.
Bitcoin Price Action Could Support SHIB Movement
According to the analyst, Shiba Inu could experience a pump from daily support levels around $0.000010 and $0.000007. The initial target for this potential move is $0.000020, representing an approximately 80% increase from current levels.
However, this potential rally is contingent on broader market conditions, particularly Bitcoin (BTC). The analyst stressed that if Bitcoin maintains its position above the $100,000 threshold, it could provide the necessary momentum for a bullish reversal in SHIB’s price.
At press time, Bitcoin is trading at above $105,000.
Rising Address Activity Signals Potential for Growth
In parallel with price movement, address activity on the Shiba Inu network has shown encouraging signs. Recent 7-day changes indicate a surge in engagement, with new addresses increasing by 15.95%, active addresses rising by 15.11%, and zero balance addresses growing by 34.98%.
This uptick in activity suggests greater adoption and network participation, which are positive indicators for long-term price movement. If this trend continues, it could drive more adoption and transaction volume.
SHIB Price Forecast for 2026, 2035, and 2040
Elsewhere, forecasts for Shiba Inu’s price in the coming years show a range of predictions. A ChatGPT-backed analysis anticipates steady growth due to regular token burns and stronger demand in the broader crypto market.
By 2026, SHIB could reach $0.000045. Looking further ahead, ChatGPT projects that by 2035, SHIB could climb to $0.00038. If the project sees widespread use as a digital payment option and successfully reduces its supply, it may hit $0.0031 by 2050.
Meanwhile, Google Gemini offers a similar outlook for the short term, with a price target of $0.000045 by 2026. However, Gemini is more bullish in its long-term predictions, forecasting SHIB to reach $0.00085 by 2035. For 2050, Gemini’s most ambitious projection places the price at $0.047.