As the month of April was about to conclude positively, the cryptocurrency market experienced a correction of approximately 1% on its last day. With this, top tokens such as Bitcoin, Ethereum XRP, & Dogecoin are back around their important support levels.
On the other hand, the Shiba Inu price has recorded a significant correction today by losing more than 4% of its valuation. Following this, the SHIB memecoin’s monthly return has been cut down to 5.84%, resulting in a micro panic-like situation in the crypto community.
Are you one of many SHIB memecoin investors or are planning to expand your portfolio by adding this into your wallet? In this article, we bring you the technical aspects and possible monthly SHIB price prediction. So buckle up and scroll to the very end to find out, What’s next for Shiba Inu!
Factors Affecting The Price Of SHIB Memecoin!
Despite being the second-largest memecoin of the crypto verse, the price of SHIB token is highly influenced by numerous direct and indirect factors. Some of them are listed below.
Dogecoin ($DOGE) Price Action: Shiba Inu price is highly influenced to Doge coin price action, which is the leader of memecoin segment. Irrespective of a dump or a pump, SHIB crypto always follows in the footsteps of DOGE memecoin.
New Competitions: With newer meme coins entering the market daily with more unique technology and application, Shiba Inu token faces a high risk of losing its value and position in the long-term projection.
Bitcoin: Not only SHIB coin, but the whole crypto community is on their toes when it comes to the price of Bitcoin. With a dominance of 63.79%, the BTC token acts as the backbone of the crypto industry.
Cross-border Market: uncertain market conditions could impact the market on a great scale. Moreover, such situations generally hammer the memecoin market. Unfavorable political reforms such as Trump tariff war or dispute between two countries could turn out to be negative for the crypto community.
As we have considered the internal and external factors of the world crypto market, let us now understand the Shiba Inu price prediction for next month, which is May 2025!
Shiba Inu Memecoin To Smash It’s Important Resistance Of $0.000015!
Amid rising uncertainty in the crypto market, the SHIB coin price has experienced a correction of over 4% in 24 hours with a trading volume of $179.48 million. Moreover, with a market cap of $7.68 billion and a listed value of $0.00001296, the second-largest memecoin has successfully secured the 17th position in the crypto market.
The Simple Moving Average (SMA) has displayed a bullish convergence in the daily time frame, suggesting an increase in the buying-over-selling pressure. However, the price records a downtrend, highlighting a mixed sentiment in the market.
On the other hand, the Relative Strength Index (RSI) has failed to breach the overbought range in the SHIB price chart. This has resulted in it experiencing a sharp decline toward the neutral point. Moreover, the average trendline experiences a negative convergence, hinting at rising uncertainty for the memecoin in the market.
Will SHIB Price Increase Again?
Suppose, the bulls reclaim the $0.00001335 mark, this could result in the price of SHIB meme coin retesting its upper price level of $0.0000160. Maintaining its bullish price action could result in it heading toward its target of $0.0000190 in the upcoming time.
On the contrary, if the bears outrun the bulls, the Shiba Inu price could retest its immediate support level of $0.00001250. Furthermore, if the bearish sentiment intensifies, the price of second-largest memecoin could plunge toward its crucial low of $0.00001050.
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