Shiba Inu Could Rally by 58% on Broader Crypto Rally
Shiba Inu (SHIB) is up 1.5% to $0.00001248 this week, underperforming the broader crypto market, where Bitcoin (BTC) is rising by 4.3% to $88,465. Investor sentiment has been buoyed by U.S. President Donald Trump’s pressure on Fed Chair Jerome Powell to either cut interest rates soon or step down, with Trump dismissing Powell as “Mr. Too Late” and “a major loser.” This rhetoric has pushed bets on a quarter-point Fed rate cut in June to 64.3%. Although SHIB is lagging behind from a broader market perspective, the meme coin appears promising. The token dipped to its support at $0.00001000 in early April and then bounced by 25%. Should Bitcoin break through the resistance in the $90,000–$92,000 range, SHIB could potentially rally by 58% to around $0.00002000.
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