SHIB myth continues, meme coin price breaks through $0.000018!

As the overall crypto market rises, the price of Shiba Inu Coin (SHIB) has been steadily rising. According to TradingView data, SHIB is up about 3.5% at just over $0.000018.

The Ethereum-based meme coin continues to move higher along the rising trend line, indicating that bulls are still in control of the market.

Another test of the 200-day moving average (200DMA) is expected, which was recently located below $0.000020.

SHIB price failed to break through its 200-day moving average (200DMA) at the end of October, so this position is a key resistance level.

Some traders pointed out that SHIB may have an interesting collaboration with the legendary movie "Back to the Future".

SHIB's main anonymous developer, Osamu Shibata, retweeted a recent advertisement from the famous time-travel locomotive manufacturer DeLorean Motor Company, hinting at future collaboration opportunities.

Will this push Shiba Inu Coin price back to its all-time high? Probably not. But it does highlight a trend: major memecoins like Shibacoin are expanding their influence and leaving a bigger and bigger mark on culture.

Meme season could soon be back. October is typically Bitcoin’s best month, earning it the nickname “Uptober.”

If Bitcoin can hit new highs this month in anticipation of a Trump victory and the Fed’s easing of interest rates, it could spark investor enthusiasm for riskier cryptocurrencies like memecoins.

As a market leader, Shibacoin is often one of the first to rise. A breakout above the $0.000020-22 area could quickly surge to the next major resistance zone near $0.000030.

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