Shiba Inu (SHIB) investors are closely watching Bitcoin’s (BTC) performance, especially in light of recent bullish predictions from VanEck. The prominent asset manager forecasts that Bitcoin could reach $2.9 million by 2050. This optimistic outlook has sparked speculation about how high Shiba Inu could rise if it mirrors Bitcoin’s trajectory.
Historically, Bitcoin has led market trends. Each bull market typically begins with a significant rally in Bitcoin, which often pulls other cryptocurrencies upward. This pattern is evident in the current market, where Bitcoin has recently surpassed its all-time high. Consequently, many altcoins, including Shiba Inu, tend to follow Bitcoin’s lead.
Shiba Inu has demonstrated notable volatility compared to Bitcoin. While Bitcoin’s growth is steady and consistent, Shiba Inu’s price movements are marked by sharp spikes and dips. This volatility often results in larger percentage swings for SHIB.
For instance, SHIB has recently experienced a peak gain of approximately 3% before retreating slightly to just above 2%. This behavior underscores the high level of speculative trading and investor interest in Shiba Inu.
On the other hand, Bitcoin’s performance remains more stable. Over time, BTC has shown a consistent upward trend with fewer dramatic fluctuations. Recently, Bitcoin’s price has increased by just over 1% in the last 24 hours, reflecting its established market position and larger capitalization.
At press time, Bitcoin is trading at $67,975.42, up 1.32% in the past 24 hours, while Shiba Inu is priced at $0.000017, showing a 2.44% increase. Despite Shiba Inu’s more volatile nature, it has outperformed Bitcoin in terms of percentage gains in recent observations.
Shiba Inu Faces Critical Rejection: Bearish Sentiment Grows as Price FallsAnalysts from Changelly have projected that SHIB could potentially reach the $0.0007 range between 2033 and 2040. Moreover, they anticipate a minimum price of $0.001204 for Shiba Inu by January 2040. These predictions suggest that while SHIB’s path may be marked by volatility, significant long-term gains could still be on the horizon.
