Crypto analyst has revealed that Shiba Inu has completed a bullish setup and that a rally of around 138% may be on the horizon. Fundamentals such as the new SEC rule also provide a bullish outlook for the foremost meme coin. 

Shiba Inu’s Bullish Setup Hints At 138% Rally

In an , Marks said that Shiba Inu’s setup is still hinting at a rally of over 138%, which would send back to around $0.000032. He added that it is only a matter of time for this move to materialize as a bull signal holds confirmed, hinting at this move for the top meme coin. 

Before now, Marks had highlighted a divergence confirmation for Shiba Inu, which led to his prediction that a bullish reversal could still be in the cards for the meme coin. SHIB has underperformed up till now, with a year-to-date (YTD) loss of around 38%. However, the that SHIB could still rally to as high as $0.000081, which would bring it close to its current all-time high (ATH). 

The potential launch of a Shiba Inu ETF could be one of the catalysts that spark a parabolic run for the SHIB price. that SHIB has regulated futures on Coinbase, which makes it eligible for an ETF listing under the that the SEC just approved. 

Lucie stated that the big picture for Shiba Inu is that SHIB now joins the “ETF-watchlist club” with other futures-backed cryptos. She added that even before a SHIB-only ETF, the meme coin could be bundled into a multi-asset-backed ETF. A would inject new liquidity into the meme coin’s ecosystem and could spark higher prices. 

New ATH Incoming For SHIB

In an , crypto analyst Shib Spain declared that a new ATH is incoming for Shiba Inu. He stated that the meme coin will bounce “hard” off the and rally to new highs. Crypto analyst that SHIB is heating up, having recorded a 19% gain in the last 90 days. 

The analyst stated that Shiba Inu remains the number one meme token on Ethereum and is fully decentralized, boasting a growing ecosystem that includes the, as well as DeFi and NFT products. 

Crypto analyst that auto burns and the Shibarium upgrades continue within the SHIB ecosystem, which has helped reduce the circulating supply. However, he warned that the risk associated with the Shiba Inu ecosystem remains high. 

He also noted that SHIB is witnessing a tactical pullback, although the bull structure is still evolving. In line with this, he advised investors to track and fixes in the Shiba Inu ecosystem. 

At the time of writing, the Shiba Inu price is trading at around $0.00001325, down in the last 24 hours, according to from CoinMarketCap.