The potential for Shiba Inu's price to increase this cycle could be closely tied to the performance of Solana. If Solana reaches $500, many crypto analysts speculate that it could spark a broader market rally, lifting other meme coins like Shiba Inu. Historically, meme coins tend to follow trends in major altcoins, and Shiba Inu’s community-driven momentum could play a pivotal role in driving its value higher during this potential bull run.

Shiba Inu (SHIB) Set For Future Price Increase

According to CoinMarketCap, Shiba Inu (SHIB), which is the only Ethereum-based coin in the top ten, has been struggling on the weekly and monthly charts. Despite market bullish momentum, Shiba Inu traded within a narrow range in October and failed to regain the $0.00002 price level. Currently, Shiba Inu holds between $0.000016 and $0.0000195 on the weekly chart. Most technical signals, including the VWMA (10) and Hull Moving Average (9), are bearish. 

The meme coin’s bullish momentum has slowed due to a massive increase in the token burn, with more than 5.7 billion SHIB burned in the past week—an increase of 5,926.4%. Despite these challenges, analysts remain optimistic, with a forecast suggesting Shiba Inu could rise to $0.00002550 in the future. 

Solana (SOL) Crosses The $200 Price Resistance

Solana briefly surpassed $200 at a 24-hour high of $201.19 prior to pulling to $197.67. This bullish recovery has created four straight bullish candles, a 26.39% price rise. The rally began from a 7-day low of $155.01 and it is eyeing a new 52-week high. The rally comes after a post-retest reversal from an inverted head-and-shoulder breakout with support at the 50% Fibonacci level of $159.54. Solana is testing the 100% Fibonacci level at $201.69 for a breakout.

Important technical indicators are also positive. MACD & signal lines show a bullish crossover and might continue moving upwards. The 200-day and 50-day SMA lines also confirmed a "golden crossover," a bullish sign. The 100-day SMA line remains below the 200-day SMA, though, indicating Solana's long-term outlook has not fully changed yet.

Solana’s network is growing quickly due to the increasing demand for SOL tokens. Total value locked (TVL) on the Solana network hit $6.855 billion, well below its 52-week high of  $7.248 billion. Within the past twenty-four hours, Solana has collected $3.67 million in revenue and fees of $1.83 million. With these improving DeFi figures, the Solana network is likely to keep improving SOL token demand.

Lunex Network (LNEX) Set To Transform The DeFi Sector By 2025

Lunex Network (LNEX) seeks to disrupt the DeFi marketplace with unique features and earning opportunities for its users. It supports the trading of over 50,000 cryptocurrencies. A unique feature of Lunex Network will be the absence of a KYC (Know Your Customer) procedure enabling users to trade anonymously. This makes Lunex Network a preferred choice for individuals searching for simplicity and anonymity.

On Lunex Network, traders also can trade bonds, stocks, and ETFs besides cryptocurrencies. This makes it an appealing spot for traders searching for several assets in one place. Presently $LNEX is priced at $0.002 and has been grabbing attention from investors. Several industry experts place a 1,800% price hike on the token down the road.

Website: https://lunexnetwork.com

Socials: https://linktr.ee/lunexnetwork