Shiba Inu seems to have turned bullish amid a market-wide resurgence. According to CoinGecko’s SHIB data, the popular memecoin has rallied 2.5% in the last 24 hours, 6.4% in the last week, 0.9% in the 14-day charts, and 6.5% over the previous month. However, despite the recent upswing, SHIB’s price is still down by nearly 50% since late April 2025. SHIB has treaded below the $0.00001 level for a significant amount of time. Let’s discuss if now is your last chance to buy SHIB below $0.00001.
Will Shiba Inu Reclaim $0.00001 Amid Bullish Market Forces?
Shiba Inu’s (SHIB) latest upswing follows Bitcoin’s (BTC) rally to the $78,000 price level earlier today. BTC hit the $78,000 mark for the first time in nearly three months. The original crypto’s reversal has likely triggered a bullish momentum for the larger market.
Bitcoin’s (BTC) rally, meanwhile, is likely due to positive developments around a potential US-Iran nuclear deal. While the Middle East conflict is far from over, an agreement between the two could lead to a surge in risky investments. Shiba Inu (SHIB) could greatly benefit from a peace deal between the US and Iran.
While Shiba Inu’s (SHIB) price surge has likely brought some smiles to fans and investors, the asset is far from recovered. SHIB is facing substantial resistance at the $0.000006 price level, and may continue to trade at this mark until additional bullish forces enter the market.
Also Read: Should You Still Believe in Shiba Inu’s $0.01 Price Target
One bullish factor that could push Shiba Inu’s (SHIB) price is a potential interest rate cut in May, following the appointment of Kevin Warsh as the new head of the Federal Reserve. A dip in interest rates and a peace deal between the US and Iran could trigger another bull market for the crypto sector. SHIB could reclaim the $0.00001 price level under such circumstances.
Credit: Source link
