Shiba Inu price is preparing for a massive bullish breakout as its token burn accelerates, the crypto fear and greed index remains in the green zone, and a bullish pattern forms.

Shiba Inu (SHIB), second-biggest meme coin, was trading at $0.000026 on Tuesday, Nov. 19, slightly above last Friday’s low of $0.0000246. It has jumped by 142% from its lowest level in August.

SHIB’s rebound occurred as data from Shiburn showed that the number of Shiba Inu tokens burned on Tuesday surged by almost 940% to 3.69 million. This burn brought the total number of burnt SHIB tokens to over 410 trillion, while its circulating supply stood at 583.7 trillion tokens.

Shiba Inu’s token burn involves sending tokens to a wallet without a key, effectively removing them from circulation. These tokens come from its ecosystem networks like Shibarium and ShibaSwap, as well as voluntary contributions by community members.

Shiba Inu is also recovering as the crypto fear and greed index remains in the extreme greed zone at 83. Historically, altcoins tend to perform well when there is a heightened sense of greed in the crypto market.

This sentiment has also driven gains in other meme coins, bringing the total market cap of the meme coin sector to $128 billion. This valuation surpasses that of large companies such as Lockheed Martin, Palo Alto Networks, ADP, and Airbus.

Shiba Inu price has formed a bullish pattern

The outlook for Shiba Inu remains bullish, as the coin has formed a highly bullish pattern on the daily chart. It displays a cup and handle formation, characterized by a rounded bottom followed by a pullback or consolidation near the top.

The coin is in the process of forming the handle section. A break above the upper side of the cup at $0.00002933 could signal further gains, with the next target being the year-to-date high of $0.000045—76% higher than the current level.

Shiba Inu remains above the 50-day moving average, while the Market Value to Realized Value indicator has climbed above 3. However, a drop below the key support level at $0.000020 would invalidate the bullish outlook.

The global cryptocurrency market capitalization surged by an impressive 16.3% last week, reaching a record high of $3.2 trillion and gaining $430 billion in valuation for the week.

Bitcoin (BTC) led the charge, achieving a new all-time high above $93,000. Here are some of last week’s other standout performers to watch:

XRP finally reclaims $1

After underperforming at the start of the market uptrend two weeks ago, Ripple’s XRP (XRP) staged an impressive solo rally last week, closing with a remarkable 100% gain and solidifying its position among the top performers.

The asset began the week trading below the critical $0.60 mark, following a dip from a $0.57 high days earlier. However, it gained momentum amid the market rally, surpassing $0.60 on Nov. 11. 

Defying a slowdown in the broader market, XRP continued its upward trajectory, breaking through the $1 barrier on Nov. 16 for the first time in three years. The rally peaked at $1.26 before facing a pullback, though XRP managed to hold above $1, ending the week at $1.12. 

Should the pullback persist this week, traders should monitor the upper Bollinger Band at $0.9980, as a drop below this level could signal further downward pressure.

XLM rallies 115%

Stellar (XLM), which often mirrors XRP’s price movements, delivered an equally impressive rally last week, recording a staggering 115% surge by the week’s close. 

The majority of these gains were realized on Nov. 16, with XLM posting a 50.95% increase. This upward momentum was triggered by a breakout above the upper boundary of the Keltner Channel on Nov. 15, propelling XLM past the $0.13 mark. 

However, the new week has seen XLM facing a sharp 12% decline, accompanied by a drop in its RSI, signaling weakening momentum. 

Despite this, the RSI remains at 75, indicating it is still in oversold territory. For now, bulls remain in control as long as XLM holds above the upper Keltner Channel boundary at $0.1693.

LTC knocks at $100

Litecoin (LTC) initially trailed in the broader market uptrend but experienced a significant rally last week, breaking through the $70 range. The asset initially spiked to $80 on Nov. 11 before retreating to $71 two days later.

A subsequent recovery pushed LTC above $90 for the first time since May, reaching a seven-month high of $98 on Nov. 16. However, resistance at the critical $100 level halted further gains. 

LTC ended the week with a solid 29% gain but has since declined by 8.36% in the new week. The rally was partly fueled by a surge in social media mentions, as the Litecoin community humorously explored a pivot to meme coin status.

Currently trading at $87.58, LTC finds immediate support at the 38.2% Fibonacci retracement level around $85.64. If this level is breached, the next line of defense lies at $81.57 to prevent a drop below $80.

On the upside, Litecoin needs to clear $90.67 to regain bullish momentum.

This week signified a significant achievement in the history of cryptocurrency. Bitcoin price reached a new all-time high $93,434.36 on November 13, boosting the global crypto market value to $3.11 trillion, exceeding the GDP of Italy, Canada, and Brazil. The excitement spread to other cryptocurrencies besides Bitcoin, as U.S. Bitcoin ETFs experienced record-breaking $5 billion in trading volume, with BlackRock’s ETF accounting for $3 billion of that total. During this period of strong positive momentum, some altcoins showcased impressive results, indicating they could significantly impact the market. This article focuses on Ripple (XRP), Cardano (ADA), Dogecoin (DOGE), Shiba Inu (SHIB), Sui (SUI), and a newcomer, Minotaurus (MTAUR). They are attracting the market’s interest as best cryptos to buy in this bull run.

Altcoins Surging in the Bull Run

1. Dogecoin (DOGE): Meme King Roars at the Bull Run

Dogecoin reclaimed its spotlight with an explosive 90% surge this week. The rally propelled DOGE price to $0.44 before correcting slightly to $0.3747 , with resistance currently set at $0.4. If buyers maintain their momentum, the next targets are $0.5 and potentially the all-time high of $0.74.

DOGE’s resurgence underscores the enduring appeal of meme coins, particularly as market participants shift their focus toward this category during the bull run.

2. Cardano (ADA): Steady Climb Towards $1

Cardano continued its November rally, closing the week with a robust 74.26% increase. ADA has been trading just shy of the $0.6 resistance, but seems to have challenged this level. The breakout has paved way for $0.7677, a value last seen in eight months ago.

Though trading volume has slightly tapered off, ADA’s bullish sentiment remains intact. The cryptocurrency’s long-term potential is underlined by its all-time high of $3.10, positioning it as one of the potential altcoins to buy in this bull run.

3. Minotaurus (MTAUR): The Rising Star of Blockchain Gaming

Moving on, Minotaurus (MTAUR) is turning heads with its innovative approach to blockchain gaming. Having surpassed the 100,000 USDT presale milestone, MTAUR is priced at 0.00005982 USDT—offering a 70% markdown from its expected listing price of 0.00020 USDT. Early participants have already seen significant growth, and with its in-game utility, the token stands out among other gaming tokens

MTAUR powers key game features, including avatar customization, special zones, and power-ups. Designed for sustainability, the project incorporates a robust tokenomics structure featuring a cliff and vesting system. Its appeal lies in its simplicity and strategic gameplay, capturing attention in the $15 billion casual gaming market.

The token’s smart contract audits by SolidProof and Coinsult provide additional confidence, while community-centric incentives like referral programs bolster engagement. With its presale momentum and a growing fanbase, Minotaurus is one to keep on your radar this bull run.

4. Sui (SUI): Breaking Records

Sui entered uncharted territory this week, surging 69.03% to hit an all-time high of $3.91. This breakout propelled SUI into price discovery mode, a rare and bullish event.

Buyers are eyeing targets of $4.1 and $5.2 for SUI rice. Support remains robust around $3, ensuring a strong base for future rallies. As one of the few altcoins to set new records this cycle, SUI has cemented itself as a standout performer.

5. Ripple (XRP): Testing the $1 Waters

Ripple is not left out of the bull run, as it has had an extremely impressive trajectory this week. XRP price is having crossed the $1 mark, with a 89.4% surge. After surpassing important resistance points, the currency is currently stabilizing around $1.05.

The Ripple token has overcome the $1 milestone challenge  it last reached in 2021. This successful breach may lead to reaching even higher levels, potentially returning to the $2 range. Amid increasing positivity and acceleration, XRP remains a symbol of resilience in the current bullish market.

6. Shiba Inu (SHIB): Momentum Builds for the Dogecoin Rival

Shiba Inu imitated DOGE’s positive trend and achieved a 29% increase in value over the course of one week. SHIB is currently stabilizing around $0.000025 following a quick increase, with a floor at about $0.000025.. If the resistance is breached, the subsequent goals are $0.000030 and $0.000045, levels similar to those seen eight months ago.

An impressive rise in trading activity reinforces SHIB’s positive outlook, positioning it as one of the most popular meme coins to buy.

Final Thoughts: A Bull Run for the Ages

The cryptocurrency market is driven by Bitcoin’s impressive growth and a surge of altcoin successes. Ripple, Cardano, Dogecoin, Shiba Inu, Sui, and Minotaurus showcase the variety and potential available in the current market phase. With the global market cap reaching record levels and increased institutional interest, altcoins are in the spotlight. These tokens are leading the way towards a potentially bull run year in cryptocurrency. You may want to see top crypto performers of the week.

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Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.