Renowned NBA player Scottie Pippen declares that the highly anticipated altcoin season has commenced while expressing his interest in Shiba Inu (SHIB). Pippen made the declaration about the altcoin season as the prices of alternative cryptocurrencies spike. In the tweet, he stated that the ‘Altcoin Season is here,’ suggesting that the crypto market has entered a phase where alternative cryptocurrencies outperform Bitcoin. Pippen Bullish on Shiba Inu Pippen called on his followers to reveal the alternative cryptocurrencies they are most bullish on. Interestingly, he highlighted Shiba Inu as one of the altcoins he is personally watching. His mention of Shiba Inu suggests that he is anticipating a massive price spike for SHIB in the current altcoin season. Meanwhile, Pippen also mentioned other tokens he is interested in, such as Ethereum, Solana, XRP, Dogecoin, Cardano, and Mog Coin. It bears mentioning that the prices of top altcoins have spiked tremendously over the past few days. This spike indicates that investors are committing more funds to these altcoins, leading to a rally. Shiba Inu’s Latest Performance Shiba Inu has witnessed a significant price surge in the past week. While Shiba Inu has soared 29.04% in the past seven days, Bitcoin has experienced a more modest growth of 10.09% within this period. This came after Shiba Inu hit a multi-month high of $0.00001720 over the weekend and overtook Stellar (XLM) to become the 14th biggest cryptocurrency by market cap. Although SHIB’s price has retraced to the $0.000016 mark, the canine-themed token is still maintaining the 14th position in the global crypto ranking. Has Alt Season Commenced? Following the surge in altcoin prices, including that of Shiba Inu, some enthusiasts like Pippen believe that the highly anticipated altcoin season has commenced. However, data from CoinMarketCap indicates that the market is far from the alt season. According to CoinMarketCap, the market would be in ‘Alt Season’ when 75% of the top 100 altcoins, excluding stablecoins, outperform Bitcoin in the past 90 days. At the moment, only 35% of the top 100 altcoins have achieved this feat, with Shiba Inu not included. While Bitcoin has seen gains of 6.11% in the past three months, Shiba Inu’s price has soared by only 3.31%. CoinMarketCap Altcoin Season Index Despite this, Shiba Inu enthusiasts have remained bullish on SHIB. Some analysts, like Oscar Ramos and Eunice Wong, believe SHIB will hit the $0.0001 price target this season, marking a new all-time high for the token. In the meantime, Shiba Inu is currently trading at $0.00001652, representing a 24-hour increase of 1.25%. To hit the $0.0001 mark, Shiba Inu must soar by 505% from its current price.