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Dogecoin Pushes Shiba Inu to a New High

The price of Shiba Inu hits a new high for the month due to the Dogecoin hype on Twitter.

By Mike Hesp
• 2 min read
Dogecoin Pushes Shiba Inu to a New High

Shiba Inu's price hits a new monthly high thanks to the Dogecoin hype on Twitter.

Shiba Inu's price (SHIB) is rallying on the back of the price explosion of its rival Dogecoin (DOGE), up 6% in the last 24 trading hours. The DOGE price benefits after the Twitter logo was replaced. Shiba Inu is also benefiting from this.

The fact that a Shiba Inu whale recently built up large positions is also bullish. To push the price higher, the SHIB price must first break through the initial resistance at $0.000012.

Next comes the next resistance zone around $0.000014 into view. If this zone is also sustainably broken, Shiba Inu could target the year's high from February 5 at $0.000016. Only if the SHIB price stabilizes above this resistance will upside potential extend toward the August 15, 2022 high at $0.000018.

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