After a period of sideways movement in 2023, Shiba Inu has experienced a price surge, fueled by recent events and positive market sentiment. This rally is attributed to a new trade deal announced by President Trump, which boosted investor confidence. The memecoin is currently trading around $0.00001652, registering a 2.5% increase in the past day. Its 24-hour trading volume has also spiked to $530 million, pushing its market cap close to $10 billion. This strong surge places SHIB in the top 17 positions among cryptocurrencies, indicating a significant interest from traders looking for the next big opportunity. The coin’s price has increased by approximately 27% in the past month. 2023 is seeing an increase in trading activity and investor confidence around Shiba Inu, with notable increases in the burn rate of SHIB (shiba inu tokens). 19 million SHIB were burned on May 11th, contributing to a dramatic 234,584% surge in the burn rate. This spike has further fueled the price increase. Additionally, Coinglass data shows Open Interest has also surged, indicating growing interest from traders. 2023 is seeing a clear shift towards bullish sentiment in the crypto market, with technical indicators showing buy signals and all key moving averages pointing to an upward trend. Analyst Javon Marks predicts a potential 105% rally for Shiba Inu, with a target price of $0.000081. His prediction suggests that the coin’s price could surge as much as four times its current value. NBA legend Scottie Pippen echoed this sentiment, stating that the altcoin season has begun and expects Shiba Inu to be one of the most bullish altcoins this season, along with other notable coins such as ETH, XRP, SOL, ADA, DOGE, and MOG. FAQs provide further insights into the factors driving the recent price surge.