Bitcoin (BTC) hit a new all-time high of $97,836.61 earlier today. The BTC rally is expected to spill over to other assets. As BTC reaches never-before-seen levels, Shiba Inu (SHIB) continues to struggle to overcome the $0.00003 resistance level.
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Recent SHIB Price Fluctuations
SHIB has seen commendable growth over the past few weeks. Despite the rally, the dog-themed crypto faced a 1.4% correction in daily charts and a 7.4% correction over the previous week. The asset maintained some gains in other periods. SHIB price is up 30.6% in 14-day charts, 30.8% in monthly charts, and 188% since November 2023.
Let’s see if Shiba Inu (SHIB) can remove a zero and reach $0.0001 if Bitcoin (BTC) reaches $125,000.
Can SHIB reach $0.0001 when Bitcoin hits $125,000?
If SHIB reaches $0.0001, it will be the project’s new all-time high. Reaching $0.0001 from current price levels will require a rally of approximately 314%.
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According to CoinCodex analysts, BTC could cross the $125,000 mark on February 3, 2025, in about two months. Standard Chartered had also predicted that BTC would hit $125,000 after Donald Trump won the US presidential election.
On the other hand, the platform predicts that Shiba Inu (SHIB) will trade at $0.00002238 on February 3, 2025. Reaching $0.00002238 from current price levels will result in a decline of around 7.33 % from current levels.
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It is possible that SHIB will not face a correction in the coming months. We could see another market-wide rally if Bitcoin (BTC) continues its upward momentum. SHIB could follow BTC’s trajectory and continue to rise. The asset rose to 12th place among the best projects by market capitalization. The dog-themed crypto could enter the top 10 projects if it continues its rally.