Shiba Inu Surges 2.5% as Trump Trade Deal Boosts Market Sentiment

Shiba Inu, a memecoin that has been relatively stagnant for most of 2025, has recently shown signs of strength with a notable price increase. This surge is largely attributed to a new trade deal announced by President Trump, which has positively impacted market sentiment.

Currently, Shiba Inu is trading around $0.00001652, marking a 2.5% increase in the past day. This price movement has pushed its market cap close to $10 billion, placing it in the 17th spot among all cryptocurrencies. The memecoin has seen a significant increase of about 27% in the past month, indicating a strong surge in interest as traders seek the next big move.

On May 11th, the burn rate of Shiba Inu witnessed a massive 234,584% rise, with around 19 million SHIB being burned. This significant burn contributed to the upward price pressure. Additionally, the Open Interest has surged to $263 million, signaling growing interest in the cryptocurrency.

Technical indicators for Shiba Inu show bullish momentum. Data from TradingView indicates that while the RSI and Stochastic oscillators are mostly neutral, the Momentum and MACD show buy signals. All key moving averages also indicate a buy trend for the meme coin, providing strong support for upward movement.

Analyst Javon Marks recently highlighted that Shiba Inu has bounced back nearly 30% in the past few days, suggesting that this could be just the beginning of a larger rally. According to the analyst's forecast, Shiba Inu could see a 105% rally with a breakout target at $0.000081. Marks further adds that the price could increase by 4x from the current levels.

NBA legend Scottie Pippen also believes that the altcoin season has begun and expects Shiba Inu to be one of the most bullish altcoins this season. He mentioned other altcoins like ETH, XRP, SOL, ADA, DOGE, and MOG as potential performers during this period.