Shiba Inu moved higher as crypto prices recovered after a two-week US-Iran “ceasefire” reduced immediate pressure on global markets. As a result, SHIB traded near $0.0000061 on April 8, with a market cap of about $3.62 billion and 24-hour volume near $140 million.
However, the token trades below $0.00001 and still needs a gain of more than 60% to reach this level again.
Shiba Inu rose by more than 3% as the wider crypto market prices turned higher. Recent market data showed SHIB trading around $0.0000061 after a modest daily rise. The move brought the token back above the range seen earlier in the week.
At the same time, the current price still leaves a large gap from its high. A move from about $0.0000061 to $0.00001 would require a rise of more than 60%. Therefore, the latest rally, while visible, has not yet changed the broader price picture in a major way.
Trading activity also increased during the rebound. In turn, higher volume showed stronger market participation as prices moved up. Still, the price remained in the same broad low-value zone that has kept SHIB under pressure for an extended period.
Meanwhile, market analysts pointed to rising SHIB exchange flows during the rebound. Larger token movement toward exchanges is often watched closely because it can increase available supply for selling. Consequently, such activity can limit upside if fresh buying does not absorb the added supply.
Short-term chart signals have also stayed mixed. For example, SHIB showed a brief squeeze higher during the latest market bounce, yet the broader setup remained weak after a long period of pressure. In a thin market, a recovery can produce fast moves, but those moves can also fade quickly when momentum slows.
Taken together, the latest advance reflects an improvement in sentiment rather than a confirmed trend reversal. SHIB has moved higher with the market, but it has not yet shown a breakout strong enough to change the larger price structure.
The two-week US-Iran “ceasefire” supported a broad return to risk assets. As tensions eased, global equities moved sharply higher after the agreement reduced fears of a deeper supply shock tied to the Strait of Hormuz. US stock indexes posted strong gains, while investors also moved back into crypto and other higher-risk trades.
At the same time, oil prices fell hard after the truce was announced. Brent dropped to about $91 and later touched $90.40, while US crude also posted a steep one-day decline. Lower oil prices eased some of the pressure that weighed on global sentiment during the conflict.
Crypto followed the same direction. Bitcoin rose as traders responded to better market sentiment, and altcoins moved with it. Shiba Inu joined the rebound; however, the token’s gain still looked smaller than the move needed to reclaim $0.00001.
US monetary policy remains another factor for crypto traders. The Federal Reserve kept rates at 3.5% to 3.75% at its March meeting, while officials also noted that the war could lift inflation through higher energy costs. These conditions can affect demand for speculative assets such as memecoins.
Inflation expectations also moved higher in March. Specifically, one-year-ahead inflation expectations rose to 3.4%, while expected gasoline price growth jumped sharply. As a result, those figures show that energy-driven price pressure remains part of the broader macro picture.
For now, the “ceasefire” has helped SHIB recover with the rest of the market. Even so, the token remains far below $0.00001, and the next move may depend on whether the truce holds, whether oil stays lower, and whether risk appetite remains strong across crypto markets.
Also Read: Crypto News: Bitcoin Price Nears $72K, SOL Up 6.16%, US-Iran Ceasefire Triggers Rally