The crypto market is currently consolidating after Bitcoin’s recent breakout, which ignited fresh momentum across altcoins and meme coins. With BTC rallying towards critical resistance, tokens like Shiba Inu are now eyeing larger gains.
The crypto market is currently consolidating after Bitcoin’s recent breakout, which ignited fresh momentum across altcoins and meme coins. With BTC rallying towards critical resistance, tokens like Shiba Inu are now eyeing larger gains.
According to market analyst Javon Marks, the altcoin market cap (tracked via the TOTAL3 chart) has confirmed a continuation signal that could see it climb beyond the $1.0469 trillion level.
If altcoins manage to reclaim this level, the market could climb higher and this would set the stage for altcoins to extend their recoveries and enter expansionary rallies.
At the time of writing, SHIB is down by more than 2% and is trading at $0.00001426. Despite trading in red for weeks, Shiba Inu is holding crucial support levels and bouncing off long-term trend lines. SHIB recently secured a bullish cross on its daily Stochastic RSI — a technical setup that historically precedes big upward moves for the token.
The altcoin breakout is creating the perfect conditions for meme coins to surge, especially Shiba Inu (SHIB). The analyst believes SHIB could jump over 450% to reach $0.000081 soon. If it crosses that mark, it might even aim for $0.0001553.
On-chain fundamentals are also improving. Whale accumulation and increasing wallet addresses holding SHIB are considered healthy signals. Yet, SHIB remains locked within a challenging resistance zone between 0.000014 and 0.000019, which holds its largest liquidity concentration. A breakout beyond this range could trigger a price spike.
Bitcoin’s breakout, Ethereum’s growing strength, and surging interest in altcoins and meme coins hint at an exciting period ahead.
While SHIB faces structural challenges, its technical setup and market sentiment point to a potential rally if broader market conditions remain favorable.
