Shiba Inu is preparing for a bullish breakout in May? Analyst targets $0.00004

Shiba Inu (SHIB) has once again drawn attention. Notable technical indicators have sparked bullish signals for memecoin. This is in effect as technical analysts point to the potential for a bullish breakout in early May. Notably, a trader has stepped up to set an ambitious short term target of $0.00004. Despite a slight fluctuation and a modest decline of 1.4% on the day, SHIB has still increased by 6.1% over the past week, maintaining its recent bullish momentum and drawing attention from traders. One of the most attractive prospects comes from Trader Mike on TradingView, who analyzed historical patterns of SHIB to predict future price movements. Review the explosive bullish surge of SHIB from late September to October 2021—when the token skyrocketed from around $0.00000600 to $0.00008869. Trader Mike notes the presence of large bullish candles indicating strong buying interest. He contrasts this with the prolonged bearish phase from November 2021 to February 2024, characterized by weaker candles and wicks, which he believes may suggest market manipulation rather than organic selling. Importantly, despite the prolonged bearish trend, Trader Mike has observed continuous buying activity, indicating that the underlying demand may be recovering. His current analysis identifies $0.00003000 as the key resistance level—referred to as the "Trend Killer"—that SHIB has struggled to break through cleanly in recent months. A successful breakout above this level could pave the way for significant surges. Trader Mike revealed that he entered a long position on SHIB after the bullish daily candle closed on April 9, 2025, around the level of $0.0000167. Since then, he has outlined several liquidity targets, including $0.00004529, a potential increase of 249%, followed by $0.00004595, $0.00005414, and even $0.00007526 and $0.00008869—levels reminiscent of SHIB's peak in 2021. In addition to the bullish scenario, another analyst known as Rose Premium Signals on X emphasized that SHIB has recently broken out of a descending wedge pattern—a classic bullish reversal indicator. This breakout suggests that a bullish trend may be forming, with potential short term targets of $0.00001510, $0.00001850, $0.00002110, and $0.00002460, all representing significant increases from the current level.

In addition to technical patterns, market data also supports the bullish outlook. According to CoinGlass, the open interest of SHIB futures has nearly doubled in April, rising from under $97 million to nearly $190 million on April 27. This increase indicates that traders' confidence is rising, as capital flows into leveraged long positions—a typical precursor to strong price volatility. With the rise of open interest, strong historical support, and emerging bullish technical patterns, Shiba Inu seems poised for a breakout. If the momentum continues, a bullish move towards the $0.00004 mark could soon be not just speculation—but could become reality.