Shiba Inu

Date: Fri, Sept 27, 2024, 05:55 AM GMTShiba Inu (SHIB), the memecoin that captured massive attention during the last bull run, is back in action with impressive gains over the past 24 hours. As the overall cryptocurrency market rebounds following the Federal Reserve&#39;s recent interest rate cut and growing bullish sentiment for Q4, SHIB has surged by an eye-popping 22%.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/bad8a3ea109d4819925d9b057ee7fa54.png" />Source: CoinmarketcapThis comes as Bitcoin also breaks above the $65,000 mark for the first time since August 1st, creating a favorable environment for altcoins and memecoins to thrive. Notably, other <a href="https://coinsprobe.com/top-3-solana-based-memecoins-to-watch-in-october-for-potential-gains/" rel="noopener noreferrer nofollow">memecoins </a>like PEPE, WIF, and BONK have also seen strong rallies, but SHIB&#39;s move is drawing special attention.The catalyst for SHIB’s surge appears to be its breakout from a key downtrend line at the $0.00001494 level. This breakout sent SHIB to its current price of $0.00001915, and the token is now eyeing a major resistance range between $0.00001943 and $0.00002070.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/6ca21cf6f381454695631e22c3bbcda7.png" />If SHIB can maintain this momentum and break through this resistance, it could potentially head toward its next target at $0.000026—a 26% upside from the current level.While the market remains bullish, all eyes are on SHIB to see if it can sustain this rally and reach new highs.Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always do your own research before making any investment decisions.Also Read: <a href="https://coinsprobe.com/top-3-solana-based-memecoins-to-watch-in-october-for-potential-gains/" rel="noopener noreferrer nofollow">Top 3 Solana Based Memecoins to Watch In October For Potential Gains</a>

Shiba Inu (SHIB) Rises with Double-Digit Gains – Can It Clear the Next Resistance?

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