Saad Ullah
Shiba Inu I is tracking Ethereum's bullish momentum and approaching a key technical breakout that could push the meme coin significantly higher in the coming weeks.
Ethereum just smashed through its 200-day moving average this week, and guess what? SHIB is right there behind it, setting up for what looks like a pretty sweet rally. The meme coin is up 9.13% and getting close to its own 200-day line on the two-day chart.
Right now, SHIB is trading at $0.00001522, and the setup looks familiar. Last time ETH broke this kind of resistance, we saw weeks of straight-up price action. SHIB's showing the same signals - rising volume and a clear uptrend that's got traders paying attention.
SHIB Price Technical Setup Looking Bullish
The charts are telling a story here. SHIB's 50-day and 200-day moving averages are getting closer, and if they cross over, we're looking at the next resistance around $0.00001698. Keep the momentum going with strong ETH support, and $0.0000205 becomes the next target.
What's interesting is how SHIB still dominates the Ethereum meme space with its $8.97 billion market cap. Sure, there are new players and Layer 2 tokens trying to compete, but SHIB remains the go-to barometer for Ethereum-based risk appetite. When people want to bet on ETH's speculative side, they buy SHIB.
ETH Strength Drives SHIB Price Action
Ethereum's already cleared its path to $4,000, hitting $3,750 and showing real strength. SHIB hasn't confirmed its breakout yet, but it's getting positioned for one. The pattern's pretty consistent - when ETH makes big moves, SHIB usually follows within days or weeks.
This isn't rocket science. SHIB has always been ETH's shadow play, and that relationship is firing up again. The token doesn't need to lead anything - it just needs to ride Ethereum's wave, and right now that wave is looking pretty strong.
The volume's picking up, the technicals are aligning, and ETH is doing its part. If this plays out like previous cycles, SHIB holders might be in for a nice ride toward those higher targets.
Saad Ullah
