Shiba Inu (SHIB) Price Is Not Done Surging, Suggests Ethereum Pattern

Key Points

1. Ethereum (ETH) has broken through its 200-day moving average, and Shiba Inu (SHIB) is approaching its own, indicating potential for a similar rally.

2. SHIB is currently up 9.13%, trading at $0.00001522, with historical patterns suggesting it could follow Ethereum's upward momentum.

3. SHIB's dominance on the Ethereum network is highlighted by its $8.97 billion market cap, acting as a high-beta proxy for ETH's speculative trends.

4. The next key resistance levels for SHIB are around $0.00001698, with a potential path toward $0.0000205 if volume and ETH's strength persist.

5. Historically, when Ethereum makes a decisive move, related assets like SHIB tend to follow suit, suggesting further price increases.