Shiba Inu's 6% Dip: Analyst Predicts June Rally to $0.000078

The Shiba Inu (SHIB) price currently hovers around $0.000015, having experienced a 6% decline over the past week. Despite this short-term dip, a prominent analyst predicts a potential rally to $0.000078 by June, contingent upon the cryptocurrency surpassing key resistance levels. This forecast suggests significant gains for SHIB if certain chart milestones are met.

Shiba Inu has demonstrated resilience, rising by 65% over the past year. Investors who have maintained their positions could still reap substantial returns this year, despite ongoing market volatility. The attention of many is now focused on whether new fans of Shiba Inu or spillover from Ethereum (ETH) could fuel the next major rally, particularly as a new meme coin, Panshibi ($SHIBI), gains traction among risk-hungry traders.

The analyst's $0.000078 target for Shiba Inu relies on the cryptocurrency breaking above key resistances around $0.00001856 and avoiding a potential death cross near $0.000019. A close above $0.000021 in shorter time frames could invalidate bearish signals, potentially paving the way for midrange targets such as $0.000048 or even $0.000071. If Shiba Inu surpasses these levels, it could ignite further bullish sentiment, particularly among investors anticipating a June rally. However, critics warn that any misstep on the path to $0.000021 or an overall market downturn could knock SHIB back to $0.000010, where some see a reliable safety net.

Shiba Inu's performance often correlates with Ethereum's general momentum, as both tokens share overlapping communities and some infrastructure. If ETH remains strong or even surges in the coming months, many foresee a spillover effect boosting the Shiba Inu price. Observers highlight the asset's year-long 65% climb, pointing to its capacity for extended rebounds once buying pressure reappears. However, others remain cautious, noting that meme coins typically rely on hype, big listings, or social media buzz to sustain growth. A bullish Ethereum may set the backdrop for Sh