Shiba Inu Price Rally Begins as Memecoin Frenzy Returns

Shiba Inu (SHIB) has broken above a long-term descending trendline, putting a key resistance level near $0.0000060 back on traders’ radar. The article says SHIB outperformed much of the memecoin sector over the past week even as the broader crypto market consolidates. It cites improving sentiment, increased social engagement, and renewed optimism for established meme tokens. The piece also points to commentary from X influencer David Gokhshtein, who has more than 800,000 followers, saying “OG meme culture” is returning. Technically, SHIB has defended the $0.0000042–$0.0000044 demand zone and is challenging $0.0000053; a daily close above could push momentum toward $0.0000060 and then $0.0000070. The RSI has moved above 50, while failure to hold a breakout could trigger a retest of $0.0000045–$0.0000046.