Shiba Inu (SHIB), the self-proclaimed “Dogecoin Killer,” might be taking a page out of its rival’s playbook. With Dogecoin (DOGE) experiencing a significant price jump of over 20% in the past 48 hours, a prominent analyst predicts a similar surge for SHIB.
Following the Leader?
Crypto Money King, a well-known market analyst, believes SHIB historically follows DOGE’s price movements. Based on this observation, he predicts a 20% increase for SHIB, mirroring DOGE’s recent rally. This projected rise would push SHIB’s price to $0.000037, a significant leap from its current trading price of $0.000027.
For this prediction to hold true, SHIB needs to gain momentum quickly. Crypto Money King highlights a critical support level of $0.000026. If the price falls below this point, the analyst’s prediction becomes less likely. However, SHIB has maintained its position above this level in the past 24 hours, offering some hope for the anticipated surge.
The Memecoin Battleground
This price prediction adds another layer to the ongoing “memecoin war” between SHIB and DOGE. The SHIB team, confident in their project, has hinted at “secret wags” to propel them past DOGE. However, for now, DOGE holds the upper hand with a market cap of $23.1 billion compared to SHIB’s $16.3 billion. This dominance has also resulted in a shift in rankings, with DOGE sitting comfortably at 8th, while SHIB has fallen to 11th, replaced by Avalanche.
If Crypto Money King’s prediction comes true, it could be a turning point for SHIB. Earlier this month, the two memecoins were neck-and-neck, with SHIB almost surpassing DOGE. However, DOGE has pulled ahead, leaving SHIB scrambling to catch up.
Also Read: Shibarium’s BONE Gains Traction: 83,323 Available for Borrowing on Gate.io as Price Jumps
Recovery on the Horizon?
A Disclaimer for Investors: It’s crucial to remember that cryptocurrency markets are inherently volatile, and analyst predictions should not be taken as financial advice. Before making any investment decisions, conducting thorough research is essential.
About The Author
