Peter Smith
Shiba Inu bounced back into the top 20 cryptos after finding support at key levels, getting a boost from Ethereum's surge to $3,835.
SHIB just made a comeback nobody saw coming. After getting kicked out of the top 20 cryptocurrencies last week, the meme coin managed to fight its way back in, and it's all thanks to Ethereum's hot streak.
Here's what happened: Ethereum's been crushing it lately, hitting $3,835 – its best level in over a year. When ETH goes up, it usually drags other Ethereum-based tokens with it, and SHIB is one of the biggest ones riding that wave.
Yeah, SHIB is still down about 7% this week, but that dip actually did something smart. It pushed the token right into what traders call a "demand zone" between $0.00001150 and $0.00001270. This area has been like a safety net for SHIB since late June – every time the price hits it, buyers show up.
The bounce from this zone shows people are still willing to bet on SHIB at these levels. Right now, it looks like the token is trying to stay above $0.00001400, which could be a good sign for what's next.
Shiba Inu (SHIB) Gets Pulled Up by Ethereum's Success
The thing about SHIB is it's basically married to Ethereum. The whole Shiba Inu thing runs on Ethereum's blockchain, so when ETH does well, SHIB usually follows along like a loyal sidekick.
Ethereum's rally to $3,835 has been quietly moving money back into Ethereum-based tokens, and SHIB is catching some of that flow. Even without any big SHIB news, the token is getting a lift just because it's part of the Ethereum family.
This kind of copycat rally happens all the time in crypto. When the big players start moving, they create waves that lift smaller coins too. For SHIB holders who've been waiting for some good news, Ethereum's performance is exactly what they needed.
Shiba Inu (SHIB) Benefits from Better Market Vibes
What's really driving this isn't just charts and price levels – it's the mood. People are getting comfortable taking risks again, and when that happens, meme coins like SHIB are usually first in line for the party.
SHIB's fundamentals haven't changed much, but sometimes that doesn't matter. In crypto, how people feel about the market can be just as powerful as any technical update. When traders start feeling good about crypto in general, they often reach for the fun, risky plays. And SHIB definitely fits that bill.
Getting back into the top 20 by market cap is no joke. Last week's drop could've been the start of a bigger slide, but instead SHIB found its footing and bounced back. That bounce from the $0.00001150-$0.00001270 zone wasn't luck – it's been a reliable support area since late June.
Now the question is whether SHIB can keep this momentum going. If Ethereum keeps climbing and people stay in a risk-taking mood, SHIB might have more room to run. For now, SHIB holders are probably just happy to be back in the elite group where they think they belong.
Peter Smith
