The opening days of 2026 have so far been generous to the cryptocurrency market, with the meme coin sector leading the uptrend.
Shiba Inu (SHIB) has jumped by 15% over the past week, and now the question is whether this rally is sustainable and how high the price can go.
Just hours ago, the self-proclaimed Dogecoin killer was close to erasing a zero from its price, reaching approximately $0.00000935 (according to CoinGecko’s data), marking the highest point since mid-November.
Its uptick comes on the back of the revival of the meme coin niche, whose market cap once again surpassed $50 billion. Another factor that may have positively impacted SHIB’s price is the resurgence of the burning program.
The team and community scorched almost 195 million tokens over the last seven days, representing a 531% increase from the prior week’s figure. The mechanism, launched in 2022, aims to reduce the meme coin’s overall supply, making SHIB more valuable over time. Data shows that the current circulating supply is roughly 585.28 trillion coins after more than 410 trillion tokens were destroyed in the past few years.
The asset’s recent revival has restored optimism among many analysts, who now predict a further rally. X user JAVON MARKS believes SHIB might be gearing up for a 246% pump to the $0.000032 divergence targeted area, whereas CryptoPulse thinks that if the positive momentum continues, the price could soar to the $0.0000100-$0.0000112 range. It is worth noting that a clean daily close under $0.0000075 could invalidate the bullish setup, the latter added.
For their part, X user Alice Crypto argued that SHIB has already initiated a successful breakout with “a good volume.” That said, the analyst forecasted an additional 70% gain.
Despite the meme coin’s positive performance lately, some indicators suggest it is not out of the woods yet. Over the past several days, SHIB’s exchange reserves have been rising, which typically results in increased selling pressure.
In addition, the asset’s Relative Strength Index (RSI) remains close to the bearish 70 zone. The technical analysis tool measures the speed and magnitude of the recent price changes and signals potential trend reversals. Ratios near and above 70 hint SHIB could be overbought and due for correction, whereas readings below 30 are interpreted as bullish territory.
The post Shiba Inu (SHIB) Surges 15% Weekly: What Are the Next Targets? appeared first on CryptoPotato.
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