With Bitcoin hitting new all-time highs, the meme coin market has added over 6% in market capitalization, with Shiba Inu among the top tokens gaining traction on social media platforms. It’s like the internet decided to throw a party, and Shiba Inu got the invite. 🎉
At the time of writing, SHIB is trading around $0.00001344, up by over 6% in the past day. The cryptocurrency has recorded a 52% gain in 24-hour trading volume, currently at $383 million. That’s more excitement than a cat chasing a laser pointer. 🐱
Despite the upward momentum, SHIB has largely consolidated within the $0.000010–$0.000016 range. The cryptocurrency had been in a clear bearish trend, forming lower highs and lower lows since March last year. It’s like it’s been on a rollercoaster, but the ride hasn’t started yet. 🎢
Crypto analyst MasterAnanda noted that while SHIB has had a quiet bull cycle so far, a strong breakout may be near. He explained that the meme coin is in early stages of its bullish rally as its price still remains below its 200-day moving average, currently standing at $0.00001634. It’s like SHIB is warming up for a sprint, but it hasn’t broken the starting line tape yet. 🏃♂️
SHIB weekly price chart with MasterAnanda’s analysis | Source: Trading View
The analyst stated that clearing this MA200 level could give Shiba Inu a long-term bullish push, setting the stage for a potential parabolic move. It’s like SHIB is about to jump out of a plane, and the only question is whether it will open its parachute. 🪂
MasterAnanda has set a price target of $0.0001032, which he describes as the minimum new all-time high for SHIB in this cycle. Notably, reaching this level would need a 1,500% price spike from current levels. That’s like winning the lottery, but with a lot more uncertainty. 🎟️
The analyst predicts this potential rally will create major euphoria among SHIB holders, similar to its explosive 2021 run. SHIB, one of the top meme coins, is down about 85% from its October 2021 all-time high of $0.00008845, giving it plenty of room for a potential comeback. It’s like SHIB is a phoenix, ready to rise from the ashes. 🦅
SHIB Price Testing 50-Day MA
Meanwhile, market analyst Jonathan Carter shared on X that SHIB has been trading in a descending channel pattern since December 2024. The price is currently consolidating above the midline support while testing the 50-day moving average. It’s like SHIB is playing a game of Jenga, and the next move could be crucial. 🏗️
#SHIB
Shiba Inu is forming a descending channel pattern on the daily timeframe🔍
The price is consolidating above the midline support and is currently testing the MA 50💁♂️
Breaking above this MA could drive the price toward targets at $0.00001500, $0.00001750, $0.00002050, and…
— Jonathan Carter (@JohncyCrypto) July 10, 2025
Carter stated that a breakout above the 50-day MA could push SHIB to $0.00002050 and even to $0.00002500 in the near term, depending on the volume. It’s like SHIB is about to make a big splash, but the pool is still a bit chilly. 🏊♂️
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2025-07-11 19:59