Gokhshtein: Meme Coin Market's Strength Depends on Established Leaders Like Shiba Inu

Crypto commentator David Gokhshtein believes that for the meme coin market to thrive, established leaders like Shiba Inu (SHIB) must regain momentum. Gokhshtein argues that investors should focus on these prominent assets rather than constantly searching for the next Dogecoin (DOGE), SHIB, or Pepe (PEPE). He points out that when leading meme coins perform well, it sets a positive tone for the entire sector.

Gokhshtein has consistently maintained this position. In late July, he noted that Shiba Inu's surge nearly 40% in one day reinforced his conviction that the crypto industry's original meme culture was making a comeback. He emphasized that SHIB's resurgence not only benefited its holders but also created momentum for other established meme cryptocurrencies.

The analyst identifies key support and resistance levels for SHIB, which is currently consolidating below a local resistance zone after forming a higher low. Veyron believes holding above the $0.00000482-$0.00000486 support zone would preserve SHIB's short-term bullish structure and improve chances of another upward move.