Shiba Inu (SHIB), a prominent memecoin, surged 8% daily as Bitcoin climbed to $70,000. This surge positioned SHIB on the brink of a potential 110% rally if key resistance levels are surpassed.
Despite initial setbacks with a 13% pullback to $0.00001632, Shiba Inu rebounded by 12%, reclaiming the $0.000018 resistance level. Increased daily activity supports this positive trend, recording a trading volume of nearly $730 million.
Market analysts are optimistic about a forthcoming significant bullish wave. Analyst Globe of Crypto noted the potential for SHIB to retest areas from past rallies, potentially reaching the $0.000040 level with a breakout beyond $0.000019.
Crypto analyst Javon Marks further fuels room for optimism with predictions of a 351% surge to SHIB's all-time high by continuing current bullish trends, setting a new target of $0.000081 if key levels are maintained.
Another analyst, Investing Haven, advised maintaining support above $0.0000133 and targeting $0.000020 to stay on the bullish path. As of now, SHIB trades at $0.00001828, showing significant daily growth.
