In a remarkable turn of events, Shiba Inu (SHIB) has shown strong bullish momentum, rallying 8.5% in the past 24 hours with $1.5 billion in trading volume. The popular memecoin has outperformed its rival Dogecoin on blockchain, which saw a 6.7% increase during the same period.
Market analyst Javon Marks has identified a bullish reversal pattern in SHIB's charts, projecting a potential surge to $0.81. A rounding bottom pattern suggests movement from $0.00003 to $0.000067, with expectations of reaching $0.00008 in the near term.
Currently trading at $0.00002931, SHIB sits 67% below its all-time high of $0.00008845. The token's impressive 202% gains over the past year have surpassed both Bitcoin's new heights (141%) and Ethereum (74%), positioning it as a top performer in the cryptocurrency market.