Shiba Inu (SHIB) price surged on Monday alongside the overall bullish momentum of the cryptocurrency market.
According to TradingView, SHIB's price was most recently up about 3.5% and just above $0.000018.
The Ethereum-based meme coin continues to rally in an uptrend, showing that buyers are still in control of the market.
It looks like there will be a retest of the 200DMA, the closest price level is just below $0.000020.
SHIB price failed to break above the 200 DMA in late October, so this is an important resistance level.
Some traders have noted the exciting prospect of cooperation between SHIB and the legendary film series “Back to the Future”.
SHIB's anonymous lead developer, Shytoshi Kusama, cited a recent advertisement by DeLorean Motor Company, makers of the famous time-traveling car in the movie Back to the Future, hinting at a future collaboration.
Does this bring Shiba Inu prices back to all-time highs? No, probably not. But it does highlight a trend—the fact that big meme coins like the Shiba Inu continue to expand their footprint and leave an ever-larger mark on culture.
The growing Shiba Inu brand will help maintain its position as the top meme currency.
According to CoinMarketCap, SHIB's most recent market cap was around $10.7 billion. But as global cryptocurrency adoption continues to accelerate and the meme market grows, SHIB will no longer be limited.
Where will Shiba Inu prices go?
Meme season may soon return. October is typically the best month of the year for Bitcoin, hence the name “uptober.”
And if Bitcoin can hit a new record high this month amid speculation of a Trump election win and the Fed easing interest rates, that could trigger a risk-on trend in riskier cryptocurrencies like meme coins.
The Shiba Inu is often one of the first coins to launch due to its market leadership.
A break above the $0.000020-22 zone could open the doors for a quick rally back towards the next major resistance zone around $0.000030.
That means Shiba Inu prices can nearly double in value.
That sees it ranked as one of the best cryptocurrencies to buy today, as well as one of the best meme coins.
Shiba Inu prices can even increase 5 times or more in this bull market.
Those are profits that most ordinary people would be very happy about.
But some crypto players looking to get rich quick won't be satisfied with 5x; instead, they want to go for 100x.
A fun new meme coin to vote on, Flockerz (FLOCK), might be the coin they're looking for.
The community-focused meme coin, backed by community owner Flocktopia DAO, raised a whopping $700,000 in its pre-sale.
In the video below, 99Bitcoins analyst Jacob Crypto Bury explains why he thinks FLOCK has 100x potential.
