25 April, 2024



Shiba Inu’s Potential Surge: Analyst Expects a Dogecoin-Like Rally

01 Mar, 2024

12 Mar, 2024

  • Analyst predicts Dogecoin-like rally, spotlighting memecoins in the upcoming bull run.
  • Altcoin Sherpa highlights DOGE’s bullish trajectory, expects significant price surges, and potential push to $1.
  • Analyst notes chart similarities with DOGE, anticipates alternating memecoin spotlight, and realistic expectations.

Seasoned crypto analyst Altcoin Sherpa sees a potential rally for Shiba Inu (SHIB) quite similar to the anticipated surge in Dogecoin (DOGE). The veteran expert took to X to shed light on the memecoins’ bull run and highlight SHIB’s potential of a similar bull run. DOGE currently trades at $0.1215 eyeing the $1 mark as SHIB rests at $0.00001317.

Altcoin Sherpa begins by analyzing the bullish trajectory of Dogecoin and projecting significant price surges up to $1. Despite acknowledging that DOGE may not outshine novel memecoins like dogwifhat (WIF), Pepecoin (PEPE), and Bonk (BONK) due to market cap differentials, the analyst underscores DOGE’s liquidity as a vital factor for investors.

Interestingly, Altcoin Sherpa mentions that Shiba Inu could be a potential “alternative” in the memecoin spotlight between SHIB and DOGE in the forthcoming bull run. Drawing attention to SHIB’s chart similarities with DOGE, the analyst identifies a 658-day accumulation phase, showcasing a top of $0.00001484 and a floor of $0.00000714. In contrast to this, there have been analyses signaling a potential bearish run for SHIB.

The analyst’s logic to this prediction is that both are meme coins with similar market capitalizations, despite DOGE having a $10 billion valuation edge. While the expert foresees significant performance from SHIB, specific price projections remain elusive. He also mentions about expecting a replica of SHIB’s historic 2021 run but cautions the importance of keeping realistic expectations to the investors.

Recalling Shiba Inu’s remarkable 2021 bull run, which gave a yield of $12 to $1 million in 453 days, Altcoin Sherpa acknowledges investor anticipation but is hard about a repeat. However, if SHIB mirrors DOGE’s movements, as forecasted, a potential 723% surge could bring SHIB to $0.0001054, erasing one zero.

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