The Shiba Inu price (SHIB) has surged to a one-month high against Bitcoin (BTC) this week, driven by strong institutional trading.
SHIB rose 9% in the past 24 hours to hit $0.00001359 on Coinbase — a level last seen on June 11.
With momentum building, some are now questioning whether SHIB could overtake Dogecoin (DOGE) in the coming months.
This breakout pushed the price above its closely watched 50-day simple moving average (SMA) at $0.00001242, suggesting room for further gains.
Institutional demand appears to be a key driver, with volumes spiking to 1.25 trillion tokens between 19:00 and 20:00 UTC on July 9, well above the daily average of 491 billion.
Meanwhile, SHIB/BTC climbed 3.7% on CoinEx, breaking out of a triangular consolidation pattern formed between the June and early July highs and lows.
The move may mark the end of SHIB’s year-long downtrend — and as some Shiba Inu price predictions suggest, this could be just the beginning of a much larger rally.
Conversely, SHIB’s performance against DOGE remains weak. The SHIB/DOGE pair has fallen below a key trendline support, ending its recovery rally from May lows.
Overall, while Shiba Inu shows promising signs against Bitcoin in the near term, its underperformance against Dogecoin highlights diverging market sentiment across its trading pairs.
Shiba Inu Price Prediction: Can it Continue Climbing?
Shiba Inu is currently on a very bullish-looking rally, adding 9% in the last 24 hours and 17% in the last seven days. This is primarily thanks to the multiplying effect, whereby if Bitcoin is doing well and the market is bullish, leading meme coins tend to exaggerate BTC’s gains.
In this case, Shiba Inu has done just that, eclipsing Bitcoin’s 6.2% overnight and 8.3% seven-day gains.
Although this rally is likely to lose steam over the weekend.
That’s because Shiba Inu’s relative strength index (RSI) is at 66, indicating bullish buying momentum. Once RSI goes above 70 the token becomes overbought and over-priced, which leads to some short-term profit taking that could send Shib’s price south.
However, the meme coin enjoys strong support at $0.00001, so with robust market conditions, a rebound is more than likely. From here, the next hurdle is the $0.000025 resistance level, but at this leg, strong support at $0.00002 can help it to consolidate its gains and go a leg higher.
As SHIB Shows Signs of Strong Growth, Investors Funnel Millions into Newcomer Best Wallet ($BEST)
While Shiba Inu is capturing headlines, another altcoin is quickly stealing the spotlight in presale circles – Best Wallet ($BEST).
Far more than just a crypto wallet, Best Wallet is building an all-in-one digital finance hub, combining cutting-edge security, seamless trading tools, and a powerful discovery engine for uncovering the next big presale gems.
With over $13.8 million already raised, investor confidence is surging – and early buyers are rushing in before the next price jump.
Compatible with both iOS and Android devices, Best Wallet integrates an array of advanced functionalities, including DeFi portfolio oversight, live asset performance tracking, and yield farming options—all within a streamlined, accessible app interface.
Among its standout offerings is the “Upcoming Tokens” feature, enabling users to identify new crypto projects before they launch on public markets.
Security remains central to Best Wallet’s architecture.
The platform leverages Fireblocks’ MPC-CMP encryption to ensure the safety of user funds, and its smart contracts have been comprehensively audited by Coinsult to uphold transparency and operational integrity.
For crypto holders seeking a solution beyond basic storage, Best Wallet provides a sophisticated, feature-rich environment to manage, trade, and expand digital assets with confidence.
Follow Best Wallet on X and Telegram.
The post Shiba Inu Price Prediction: SHIB Breaks Triangle Pattern Against Bitcoin – Can SHIB Overtake Dogecoin? appeared first on Cryptonews.
