Shiba Inu (SHIB) has seen a year-to-date growth of over 78.50%, reaching a price of $0.0000191. Despite underperforming relative to other memecoins like Dogecoin and Pepe, SHIB is showing potential for a rally towards its 2024 highs. The first bullish indicator is the formation of a cup-and-handle pattern, currently in its handle phase, suggesting a breakout above $0.00002032 could lead to a target of around $0.00003545, a potential 90% increase. A capital rotation from Dogecoin, which is currently overbought, might further benefit SHIB as Dogecoin's daily RSI is above 70, while SHIB's is at 58.42, indicating room for growth. Historical setups indicate that such conditions have previously resulted in rallies between 30% and 150%. Lastly, the establishment of a Strategic Hub for Innovation and Blockchain (S.H.I.B.) aims to turn a US city into a global blockchain center, which could enhance SHIB's value proposition.

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