Shiba Inu has emerged as a star performer in the recent crypto market upswing. Bitcoin's 4% surge over the past day, reclaiming the $62,000 zone, has been mirrored by a similar bullish trend in Shiba Inu. At the time of writing, SHIB is trading above $0.000018, reflecting a 7% weekly increase after weeks of stagnation below that level.

This impressive rally comes after a period of sluggish trading. Compared to its price of $0.00001294 on July 5th, Shiba Inu has seen a remarkable 40% growth in just ten days. This surge has fueled bullish sentiment within the community, especially among analysts who predicted the coin's resurgence.

A Shiba Inu community analyst, SHIB Knight, expressed excitement on a social media platform today about the meme coin's bull run. They emphasized that SHIB is well on its way to reaching new highs. This update builds upon an analysis shared yesterday when Shiba Inu was trading at $0.0000171.

The analyst outlined several price targets for enthusiasts to keep an eye on, including $0.00001760, $0.00001868, and the most ambitious target of $0.00002043. As of now, the first two targets have been largely achieved, leaving only the most ambitious one remaining. The analyst also acknowledged the possibility of a retracement back to the $0.000014 range for Shiba Inu.

SHIB Knight's optimism extends beyond Shiba Inu, encompassing other prominent dog-themed meme coins. In a recent update, the analyst observed that SHIB was breaking free from its downtrend and exhibiting exceptional strength compared to other meme coins. They further noted that Dogecoin was not only following this trend but also surpassing PEPE and Solana-based meme coins like BONK and WIF.

Given Floki's historical tendency to move in tandem with Dogecoin and Shiba Inu, SHIB Knight predicts it will likely follow suit. As a result, the analyst advises against betting against the dominant dog-themed meme coin trio of SHIB, DOGE, and FLOKI.