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Joel Frank
Author
Joel Frank
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Why Trust Cryptonews
The Shiba Inu (SHIB) price is advancing nicely on Monday in tandem with a broader push higher in the crypto markets.
SHIB was last higher by about 3.5% and just above $0.000018, per TradingView.
The Ethereum-based meme coin continues to move higher per an upward trendline, suggesting the bulls remain in market control.
A retest of the 200DMA, which was last just under $0.000020, seems likely.
The SHIB price failed to break above its 200DMA back in late October, so this is a key resistance level.
Some traders noted the prospect of a fun collaboration between SHIB and the legendary film franchise “Back to the Future”.
Lead SHIB pseudonymous developer Shytoshi Kusama quote tweeted a recent ad from DeLorean Motor Company, the maker of the famous time-traveling car from Back to the Future, hinting at a future collaboration.
Will this drive the Shiba Inu price back to all-time highs? No, probably not. But it does highlight a trend—the fact that major meme coins like Shiba Inu continue to expand their footprint and leave an ever-larger mark on culture.
Shiba Inu’s ever-growing brand should help maintain its spot as a leading meme coin.
According to CoinMarketCap, SHIB’s market cap was last around $10.7 billion. But as global crypto adoption continues to accelerate and the meme coin market grows, the sky is the limit for SHIB.
Where Next for the Shiba Inu Price?
Meme season could soon come roaring back. October is normally the best month of the year for Bitcoin, hence its name, “uptober.”
And if Bitcoin can hit fresh record highs this month in anticipation of a Trump election victory and as the Fed eases interest rates, that could trigger risk-taking in riskier cryptos like meme coins.
Shiba Inu is normally one of the first coins to pop, thanks to its position as a market leader.
A break above the $0.000020-22 area could open the door to a swift surge back to the next major resistance zone around $0.000030.
That could mean quick gains of nearly 2x could be in-store for the Shiba Inu price.
That suggests it ranks as one of the best cryptos to buy now, as well as one of the best meme coins.
The Shiba Inu price could even go on to 5x or more this bull market.
Those are returns that most normies would be more than happy with.
But some crypto degens who want to get rich quickly won’t be satisfied with 5x; rather, they are looking for 100x plays.
One fun new vote-to-earn meme coin, Flockerz (FLOCK), could be the one they are looking for.
The community-focused meme coin, which is powered at its core by the community owner Flocktopia DAO, has already raised a whopping $700,000 in its presale.
In the video below, 99Bitcoins analyst Jacob Crypto Bury explains why he thinks FLOCK has 100x potential.
For meme coin degens, this is not a meme coin to miss.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
