   
As Bitcoin (BTC) hits new highs this week, altcoins have also attracted increased attention, especially with the price momentum of meme coins like Dogecoin (DOGE) And Shiba Inu (SHIB).
Against this backdrop, crypto investment research firm Sistine Research has highlighted what it describes as a “very interesting chart” for SHIB, suggesting that the popular token could be positioning itself to outperform its rival. DOGE in the coming months.
In a recent analysis, the company highlighted what it describes as a “very interesting graphic” for SHIB, suggesting that the popular meme token could position itself to outperform rival DOGE in the coming months.
The company shared a chart showing critical SHIB technical patterns across the SHIB/DOGE ratio and SHIB/USD price action. The analysis reveals a crucial support level at 0.00010 in the SHIB/DOGE ratio since 2022, while the SHIB/USD chart shows a strengthening consolidation pattern. This confluence of technical factors, particularly the recent rebound in support levels and emerging breakout formation, makes SHIB’s current setup very bullish, suggesting that the token could potentially reverse DOGE’s gains in the near future.
And although SHIB’s annual performance shows a modest 167% increase compared to DOGE’s impressive 369% gain, technical analysts are identifying trends that could indicate a significant change in momentum.
 Javon Marks, popular crypto analyst pointed several bullish indicators in SHIB’s daily chart, including a confirmed breakout pattern and favorable RSI (Relative Strength Index) readings.
SHIB (Shiba Inu) remains broken and confirmed an uptrend with the RSI on the daily chart. Marks noted that he was referring to the closely watched breakout of a falling wedge pattern, which he says is historically a reliable indicator of future price movements. According to According to its technical analysis, SHIB could potentially target the $0.000081 level, which represents a substantial 351% increase from current prices.
That said, the optimism surrounding SHIB is part of a broader debate about the potential of meme cryptocurrencies. Although DOGE has traditionally dominated this sector, technical analysts suggest that SHIB’s current chart formation could indicate an impending catch-up phase or even further gain, just like in previous bull runs. The token’s recent price action and increased trading volumes have reinforced this bullish thesis.
However, it is worth noting that DOGE shows no signs of slowing down either. Marks’ analysis on Dogecoin suggests the potential for even more dramatic gains, with historical models indicating a possible upside of up to 3,000%, potentially pushing prices beyond the $11 mark. This projection is based on DOGE’s logarithmic breakout patterns, which have historically preceded significant price increases.
At press time, DOGE was trading at $0.38, down 3.07% over the past 24 hours, while SHIB was trading at $0.00002436, marking a decline of 0.97 % over the same period.