Shiba Inu (SHIB) has been in a consolidation phase recently, with its price hovering around key resistance levels like $0.000029. While some indicators show bullish potential, the coin's movement has been unpredictable, especially with whales significantly increasing their holdings in the past month. This suggests institutional interest could spark a breakout. If SHIB manages to break $0.0000295 and sustain that level, there's a possibility it could surge by up to 50%, potentially reaching $0.000044.
However, there's also caution in the market. Shiba Inu's recent performance has been mixed, with trading volume dropping and some on-chain metrics showing uncertainty. Some analysts believe the broader crypto market, including Bitcoin, could lead a new bull run, possibly affecting meme coins like SHIB. Shiba Inu’s head of marketing, Lucie, also hinted at a potential November bull run, but emphasized caution, focusing on established tokens within the Shiba Inu ecosystem.
Thus, while SHIB may see an uptick in the short term, it remains uncertain whether it will sustain a major bullish run.
