The cryptocurrency market has surged after a reported two-week ceasefire between the U.S. and Iran, with Bitcoin testing the $72,000 level. Shiba Inu has rallied 4.6% in the last 24 hours, but its potential to breach $0.00001 depends on Bitcoin overcoming resistance and sustained geopolitical stability, while analysts warn of possible future declines.
Reported geopolitical developments have sparked a rally across cryptocurrency markets. Bitcoin is again testing the $72,000 price level, while other assets are following its lead. The memecoin Shiba Inu has rallied 4.6% in the last 24 hours, 3.5% in the last week, and 15.1% over the previous month, according to CoinGecko’s SHIB data.
The ceasefire appears to have increased risk appetite among investors. Shiba Inu, being a memecoin, carries substantially more risk than other assets. However, Bitcoin is currently approaching a key resistance level it has faced rejection from multiple times.
Another rejection could lead to market consolidation or correction. “SHIB may not see a breakout beyond $0.00001 unless BTC breaks past its resistance level,” the analysis states. Furthermore, a very low chance of an interest rate cut after the Federal Reserve’s April meeting could dampen risk-taking.
There is also a chance the two-week ceasefire could fail and the conflict re-escalate. Such a situation could lead to a market-wide correction, which would greatly impact Shiba Inu. CoinCodex analysts are also quite bearish on Shiba Inu, anticipating it could fall to around $0.000005 by June 10, 2026.
