The cryptocurrency market is witnessing a notable rise in Shiba Inu coin, with a surge of over 2% in the past 24 hours. This increase has sparked optimism among investors, with many speculating that the SHIB price could continue its rally to $0.00002. The recent market trends and derivatives data also suggest that the meme coin may be gearing up for a significant price movement.

The Shiba Inu coin's price surge comes amid a recovery in the broader crypto market, with the overall crypto market cap rising by 1.39% to $2.28 trillion. The meme coins segment also saw a significant increase of 3.27% to a market cap of $48.45 billion. The trading volume for the segment was up by 26% to $4.42 billion, indicating growing investor interest.

The recent spike in Shiba Inu burn rate may have also contributed to the coin's price surge. The Shiba Inu community has destroyed nearly 70 million coins from the supply over the past seven days, which could have fueled investor optimism. The burning mechanism usually drives prices higher by reducing the overall supply from the market.

Shiba Inu marketing lead LUCIE has also sparked optimism in the market with a recent social media post. LUCIE claimed that the bull run will continue till the end of "2025/2026" and that the Shiba Inu ecosystem tokens, including LEASH, BONE, and SHIB, know how to rally 800-1000% in just a week. Given the recent rally of Shiba Inu towards its resistance of $0.000018, investors are optimistic about a further rally to $0.00002.

In conclusion, the recent surge in Shiba Inu coin and the broader market trends suggest that the meme coin may be gearing up for a significant price movement. While the $0.00002 price target may seem ambitious, the coin's recent performance and the market sentiment suggest that it may not be an impossible feat. As the market continues to evolve, it will be interesting to see how Shiba Inu performs in the coming months.