Shiba Inu price is up 4% today, April 1, to trade at $0.0000127 at press time. Amid these gains, one popular market analyst has predicted that Ethereum (ETH) will play a pivotal role in the next SHIB rally. This article explores when Shiba Inu will rally and the role that Ethereum might have in the meme coin’s gains.
How Ethereum Might Shape the Next Shiba Inu Price Rally
According to analyst SHIB KNIGHT, the next Shiba Inu price rally will be influenced by Ethereum. The analyst noted that if the ETH price reverses from bearish trends and gains traction again, SHIB would be the first Ethereum-based token to rally.
SHIB is the top meme coin on the Ethereum blockchain. Therefore, if investor and developer interest shifts back to ETH, tokens created on the blockchain including SHIB are bound to rally.
During the first quarter of 2025, Shiba Inu price plunged as ETH recorded a 45% decline, However, data from Coinglass shows that the second quarter has often boded well for ETH, with average returns of 60%. If Ethereum repeats historical patterns, Shiba Inu price will rally this quarter.
Ethereum may also play a role in the next Shiba Inu price rally because of the upcoming Pectra upgrade. This upgrade is slated to happen on April 30, and as ETH rallies, the top meme coin on the network will also register gains.
The above factors highlight the role that Ethereum will play in the next SHIB price rally, which is likely to happen in Q2 2025.
Other Factors That May Drive SHIB Price Rally
Besides Ethereum gains, other factors may also drive an uptrend for Shiba Inu price in the coming months. One of these factors is the growth of the Shibarium layer 2 network. This network recently hit a 1 billion transaction milestone, highlighting rising adoption.
SHIB’s marketing lead LUCIE has also noted that Shibarium is looking to expand towards gaming and the metaverse. If this expansion happens in the coming months, it will bolster a massive SHIB price rally.
Shiba Inu Technical Analysis as Bullish Pattern Emerges
Shiba Inu seems to have formed a bullish double-bottom pattern on the weekly price chart, which might precede a 4x price rally. However, such a rally is contingent on support at the second bottom of $0.0000107 holding.
If SHIB holds this support level and confirms this bullish reversal pattern, the first resistance to be tested lies at $0.000032. Once the meme coin breaks above this level, it will form a breakout rally to $0.0000458.
The ADX supports this bullish Shiba Inu price prediction after flattening. This indicates that the recent downtrend is weakening, which might pave the way for recovery. Meanwhile, the CMF has reverted to the zero line, which suggests a slight uptick in buying activity.
To sum up, Ethereum may influence the next Shiba Inu price rally. However, other factors like Shibarium’s usage and adoption alongside the double bottom pattern on the weekly chart also show that this meme coin eyes an uptrend in Q2 2025.
The post Here’s How Ethereum (ETH) Might Shape the Next Shiba Inu Price Rally appeared first on CoinGape.
