On July 11, 2025, Bitcoin (BTC) set a new all-time high of $116,818 earlier today. BTC's rise to a new high triggered a rebound across the entire market. Most other crypto assets also experienced a healthy rebound after months of struggle. Shiba Inu (SHIB) continued this breakout pattern as well. This dog-themed cryptocurrency rose 9.1% on the daily chart, 15.5% on the weekly chart, 20.3% on the 14-day chart, and 2.6% month-over-month. Despite the rise, SHIB still maintains strong momentum on the yearly chart. Since July 2024, this asset has dropped 17.3%.
After Bitcoin surged to $116,000, can Shiba Inu recover to $0.00002?
If the cryptocurrency market continues its upward momentum, SHIB is likely to return to the $0.00002 price level. Since January of this year, the asset's trading price has not reached $0.00002. SHIB rose to $0.00003 in early December 2024. The price of SHIB has gradually declined since last December.
The latest surge of Shiba Inu (SHIB) is likely a byproduct of Bitcoin (BTC) hitting new highs. On the other hand, BTC's rise may be due to ongoing institutional inflows. Institutional funds are key drivers of asset prices. BTC has also attracted interest from numerous corporate bond investors, with about 21 companies announcing plans to invest approximately $3.5 billion in Bitcoin bonds.
Shiba Inu (SHIB) may face resistance at the $0.000014 level. A breakthrough at the $0.000014 price point could drive the asset down to the $0.00002 mark.
While the market may currently be experiencing an uptrend, a correction may still occur at some point in September or October this year. This correction may contradict BTC's halving pattern. How the market will react remains to be seen.
If the Federal Reserve decides to cut interest rates, the Shiba Inu Index (SHIB) may also continue to rise. A rate cut could trigger further investment in risk assets like cryptocurrencies.
