Bitcoin (BTC) soared to a new all-time high of $118,856 earlier today, July 11, 2025, marking a significant milestone for the crypto market. This record-breaking surge has fueled a market-wide rally, encouraging a rebound across most major crypto assets after a prolonged period of stagnation.
Among the notable gainers is Shiba Inu (SHIB), the popular dog-themed cryptocurrency, which has shown impressive growth in recent charts. Shiba Inu (SHIB) is up by 8.03% on the daily charts, 16.35% on the weekly charts, and an impressive 21.3% over the past 14 days. Over the last month, the crypto has also registered a modest gain of 1.61%.
However, despite its recent upward momentum, SHIB remains in the red on the yearly charts, down by 19.02% compared to its value in July 2024.
Will Shiba Inu Reclaim $0.00002 Following Bitcoin’s $118K Breakout?
If the crypto market maintains its upward momentum, SHIB could potentially reclaim the $0.00002 price level, a milestone it hasn’t reached since January this year. The token previously climbed to $0.00003 in early December 2024 but has experienced a gradual decline since.
Shiba Inu’s (SHIB) recent rally is likely tied to Bitcoin’s (BTC) surge to a new high. BTC’s rise can be attributed to consistent institutional investments, which are a significant driver of asset prices. Additionally, Bitcoin has seen growing interest from corporate treasuries, with around 21 companies planning to invest approximately $3.5 billion in BTC holdings.
Shiba Inu (SHIB) may face resistance at the $0.000014 level, a critical price point for the asset. If SHIB successfully breaks through this resistance, it could trigger bullish momentum, potentially driving the price upward toward the $0.00002 mark. However, failure to surpass the $0.000014 level may result in a pullback, as traders assess market conditions and selling pressure at this key threshold.
The market may be on an upswing now, but a correction could occur in September or October, potentially tied to BTC’s halving pattern. How the market responds remains uncertain. Shiba Inu (SHIB) might continue to rally if the Federal Reserve cuts interest rates, as lower rates could drive more investments into riskier assets like cryptocurrencies.
Also Read: Shiba Inu (SHIB) is Surging Double-Digits: Is It Time to Buy?
Disclaimer
The information in this article should not be considered financial advice, and the OvenAdd platform is intended only to provide educational and general information. Please conduct your own research and consult a financial advisor before making any investment choices.
