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Can Shiba Inu (SHIB) Double in Value by the End of July and August 2025?
In a recent analysis, we’ve been closely monitoring the price action of Ethereum, SHIB’s parent blockchain. And, as expected, it appears that Shiba Inu is poised to follow suit, potentially even outperforming Ethereum’s gains.
Ethereum’s strength has historically acted as a precursor for other assets on its network, including meme tokens like SHIB. As such, we’re witnessing an uncanny correlation between the two assets.
To better understand where SHIB might be heading next, let’s dive into key market indicators. Funding rates have been indicating some buying pressure, which is an encouraging sign for SHIB investors.
Another crucial metric to keep an eye on is the Meme Season Index (MSI). This index tracks the overall performance of meme tokens and has historically correlated with price movements in SHIB. Right now, the MSI stands at 40, which while not overly strong, indicates that there’s still room for some growth within the meme token space.
Time-cycles also suggest a possibility of SHIB to break above its current resistance around $0.00001299 and potentially reach much higher levels.
We’ve taken a closer look at Shiba Inu’s price structure, which reveals that it has been in a triangle formation for some time now. This could lead to a significant breakout in the event of Ethereum continuing its positive momentum. If SHIB breaks above the resistance level around $0.00001299, we might be looking at an exponential surge to approximately $0.000015.
While this is not guaranteed, our data suggests that Shiba Inu has a strong potential for growth if these conditions are met.
We’ll continue to keep a close eye on developments and will bring you any updates as they come in.
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Source: bravenewcoin.com
