Shiba Inu (SHIB) Comes Back Into Crypto Elite, Thanks to Ethereum

Key Points

1. SHIB regained its position in the top 20 cryptocurrencies after briefly dropping below it last week.

2. Ethereum's rally is lifting Ethereum-based tokens, including meme coins like SHIB, despite SHIB still being down around 7% over the past seven days.

3. SHIB is currently stabilizing above the $0.00001400 price point, with Ethereum trading at around $3,835, its highest level in over a year.

4. SHIB's infrastructure depends on Ethereum, making it highly reactive to ETH-led rallies even without SHIB-specific news.

5. The meme coin's fundamentals remain largely unchanged, but the broader market context, particularly Ethereum's performance, has given it renewed momentum.