Shiba Inu (SHIB) Shows Renewed Strength, Rising More Than 16%

Despite a difficult year for meme coins, SHIB has held up better than major peers like BONK, PEPE, and DOGE

Shiba Inu (SHIB) has shown renewed strength, rising more than 16% over the last week of April. The increase in price comes as Bitcoin (BTC) continues to show signs of momentum, which could benefit SHIB further.

With its 0.82 correlation with Bitcoin and 9 out of the top 10 meme coins in the red this year, SHIB is showing signs of a strong comeback.

Shiba Inu Price Analysis: SHIB Could Benefit From Averages

This year has been difficult for meme coins overall, with 9 out of the top 10 trading in the red.

Out of the major meme coins, Shiba Inu is down 33.11%, performing slightly better than other peers like BONK, PEPE and DOGE, which have suffered even deeper corrections.

While the losses are still significant, it could position SHIB more favorably if sentiment across the sector begins to shift.

If the broader crypto market recovers in the second quarter, SHIB could benefit alongside the entire meme coin sector. Meme coins are known for their exaggerated moves — large-cap meme coins tend to post even bigger percentage gains when the crypto market rallies.

However, they also tend to suffer sharper corrections when the market weakens. If momentum returns, SHIB could be one of the first meme coins to react strongly to renewed investor appetite for risk.

SHIB Correlates With Bitcoin As BTC Price Hits $90K

Shiba Inu price is strongly correlated with Bitcoin, currently at 0.82. As Bitcoin continues to show signs of momentum for the second quarter, this high correlation could also position SHIB for a strong rally.

Over the last seven days, BTC has increased by more than 10%, while SHIB has climbed by over 16%. This suggests that SHIB is already reacting more aggressively to Bitcoin’s positive price action.

If Bitcoin continues to rise and breaks above the $100,000 mark—a level that many analysts see as possible for Q2—it could trigger new all-time highs for the broader crypto market.

In that scenario, SHIB could be one of the biggest beneficiaries among major meme coins.

Given its high beta and strong correlation with BTC, a major Bitcoin breakout would likely amplify SHIB’s gains, making it an important token to watch in the coming weeks.

Shiba Inu (SHIB) Needs 182% Rally To Reach 2021 Highs

In the last major rally, Shiba Inu posted impressive gains, rising 157% between September 18 and December 11, 2024.

That surge reflected a combination of stronger Bitcoin momentum, renewed meme coin hype, and broader retail participation. SHIB price has shown that once momentum builds, its rallies can accelerate quickly, often outpacing the general market.

If SHIB enters a new uptrend cycle, fueled by interest in meme coins and Bitcoin’s push higher, it would need to rise about 182% to retest the $0.000040 level.

This would mark the first time SHIB reaches that price since December 2021. Given its history of sharp rallies once momentum kicks in, SHIB could be well-positioned if the market environment stays bullish.