Analysis by experts shows that Shiba Inu is attracting investors' attention once again due to unexpected market divergence.
Is the Bull Run Beginning?
The crypto analyst stated, 'Shiba Inu could rise above the $0.000017 mark and continue to $0.0000263, with bulls aiming for as high as $0.000081, representing a 500% increase.' The divergence between SHIB's horizontal price movement and strengthening momentum is instilling optimism in the market. Trends in the relative strength index (RSI) and trading volumes suggest a quiet accumulation phase that typically precedes sharp crypto rallies.
Shiba Inu Bulls and Support Level
Market analyst Lingrid emphasizes that SHIB stands firm above a key support level, showing strong buyer defense. This resistance reinforces the short-term bullish technical outlook, preventing deeper losses. Lingrid adds, 'Price movement suggests that bulls are poised to push prices higher as long as the support level is maintained. A breakout above the resistance zone could target the $0.00001350–$0.00001400 area.'
Impact on Meme Cryptocurrency Market
The price movements of meme coins like Shiba Inu can sometimes be driven more by community enthusiasm, social media trends, and speculation than by any fundamental utility or technological innovation. High burn rates are positively received by the community under the belief that it will drive prices up by reducing supply, although this is not always guaranteed.
Current analyses confirm that Shiba Inu may be on the brink of significant growth in the coming weeks, provided it maintains support levels and attracts capital inflows into the market.
