David Gokhshtein: Shiba Inu's Strength Could Boost Meme Coin Sector

Crypto commentator David Gokhshtein believes the broader meme coin market will perform best when established leaders such as Shiba Inu (SHIB) regain momentum.

In a recent post on X, Gokhshtein questioned why many investors aggressively search for the next Dogecoin (DOGE), Shiba Inu (SHIB), or Pepe (PEPE) while simultaneously dismissing those same market leaders.

According to him, that approach is contradictory because the performance of the largest meme coins often sets the tone for the entire sector. He urged investors to recognize the influence that established meme assets have on overall market sentiment rather than focusing solely on newly launched tokens.

“The entire meme sector is better off when the biggest names in the space are moving,” Gokhshtein stated, arguing that strong rallies in leading meme coins generate momentum that eventually spreads throughout the broader meme ecosystem.

Gokhshtein has consistently maintained this position. In late July, after Shiba Inu surged nearly 40% in a single day, he said the rally reinforced his conviction that the crypto industry’s original meme culture was making a comeback.

At the time, he emphasized that SHIB’s resurgence benefited more than just its own holders. Instead, he argued that the rally created positive momentum for other established meme cryptocurrencies.

He also highlighted the dominance of Dogecoin and Shiba Inu, noting that the two assets collectively account for nearly half of the total meme coin market cap. In Gokhshtein’s view, strong performances by DOGE and SHIB can bolster investor confidence, attract fresh capital, and spur broader activity across the meme coin sector.

Gokhshtein’s latest comments coincide with renewed strength across the cryptocurrency market, as major meme coins have participated in the broader recovery.

During the latest rally, Shiba Inu climbed from an intraday low of $0.00000482 to $0.000005051, gaining 4.79% before encountering selling pressure. The token later surrendered part of those gains and slipped back below the psychological $0.000005 level to trade around $0.00000495.

Although SHIB retraced from its session high, it continues to trade above its recent lows. As a result, traders remain focused on whether the current recovery can develop into a more sustained uptrend.

Meanwhile, market analyst Veyron believes Shiba Inu continues to maintain a constructive short-term technical structure despite its recent cooldown.

According to the analysis, SHIB has steadily recovered from its recent lows and is now consolidating just below a local resistance zone after successfully forming a higher low. While buying momentum has moderated, bulls continue to defend an important demand area.

Veyron identifies immediate support between $0.00000482 and $0.00000486, a region that has consistently attracted buyers during recent pullbacks.

On the upside, the next major resistance sits between $0.00000515 and $0.00000520, according to Veyron. He believes that holding above the $0.00000482–$0.00000486 support zone would preserve SHIB’s short-term bullish structure and improve the chances of another upward move.

Conversely, a decisive breakout above the $0.00000515–$0.00000520 resistance range could trigger another rally toward higher price levels. However, if SHIB falls below its nearby support zone, the token could undergo a deeper correction before buyers attempt another recovery.