thecryptobasic.com
Shiba Inu is poised for a near three-figure gain after an analyst speculated a price action similar to Dogecoin, the leading meme coin.
Dogecoin surged over 100% to trade at $0.4359 as ties with Elon Musk, who was crucial to Donald Trump’s win, sparked bullish momentum. During the rally, the leading meme coin hit a market cap of $65 trillion, briefly overtaking XRP in valuation.
Meanwhile, although up 39% in the past month, Shiba Inu has not matched Dogecoin’s explosive surge. The Ethereum-based meme coin broke past the resistance at $0.000021 but failed to move on par with high-caliber assets like XRP, Solana, and Dogecoin.
Amidst the mild bullish momentum, analyst Ali Martinez has identified a similarity between Shiba Inu and the pre-Dogecoin price uptrend. His recent analysis shows he expects an identical price action for the second-largest meme coin by market cap.
Shiba Inu to Mirror Dogecoin’s Surge
In a Thursday tweet, Martinez indicated that Shiba Inu’s chart shows properties identical to Dogecoin prior to its over 100% surge. The analyst identified a similar price structure between both tokens, asserting Shiba Inu could be up for massive gains.
Martinez noted that if the similarity works to full effect, Shiba Inu could surge almost 100% to a three-year price high of $0.000049. Meanwhile, he attached a chart to the tweet backing his price prediction.
Notably, the prediction came a day after the expert speculated a Shiba Inu price surge to $0.000039. Per the earlier report, Martinez argued that SHIB could target a 62% uptick, citing similar price growth the last time whales withdrew large amounts of Shiba Inu from exchanges.
Similar Shiba Inu Price Predictions
Meanwhile, Martinez is not the only market watcher bullish on SHIB. Other analysts have also speculated a similar price spike as bullish momentum prevails in the broader crypto market.
For instance, analyst Carl “The Moon” speculated a Shiba Inu push to $0.00003630. The notable X analyst speculated that the leading meme coin could be up for a substantial uptick if it breaks upwards.
However, Shiba Inu’s marketing lead, Lucie, placed an even higher price expectation for the token. Lucie insisted that SHIB is going to $0.0000686, accounting for an over 170% surge from the market price.
In the meantime, Shiba Inu trades at $0.00002497, up 4% in the past 24 hours.