Shiba Inu is poised for a near triple-digit gain after an analyst speculated on similar price action to leading coin Dogecoin.
Dogecoin jumped more than 100% to trade at $0.4359 as ties to Elon Musk, who played a crucial role in Donald Trump’s victory, sparked bullish momentum. During the rally, the leading meme coin reached a market capitalization of $65 trillion, briefly surpassing XRP in valuation.
Meanwhile, although up 39% over the past month, Shiba Inu has not matched Dogecoin’s explosive surge. The Ethereum-based meme coin broke above resistance at $0.000021, but failed to move on par with high-caliber assets like XRP, Solana, and Dogecoin.
Amid slight bullish momentum, analyst Ali Martinez identified a similarity between Shiba Inu and the upward price trend before Dogecoin. His recent analysis shows that he expects identical price action for the second largest coin by market capitalization.
Shiba Inu to reflect the rise of Dogecoin
In a Thursday tweetMartinez said Shiba Inu’s chart shows identical properties to Dogecoin before its over 100% rise. The analyst identified a similar price structure between the two tokens, saying Shiba Inu could generate massive gains.
Martinez noted that if the similarity works in full, the Shiba Inu could soar almost 100% to a three-year high price of $0.000049. Meanwhile, he attached a chart to the tweet confirming his price prediction.
Notably, the prediction came a day after the expert speculated on a Shiba Inu price rise to $0.000039. According to the precedent reportMartinez argued that SHIB could target a 62% rise, citing similar price growth the last time whales removed large quantities of Shiba Inu from trade.
Similar Price Forecast for Shiba Inu
Meanwhile, Martinez is not the only bullish market observer on SHIB. Other analysts have also speculated on a similar price rise as bullish momentum prevails in the broader crypto market.
For example, analyst Carl “The Moon” speculated a Shiba Inu grows to $0.00003630. The notable X analyst speculated that the leading meme coin could see a substantial rise if it breaks higher.
However, Shiba Inu’s marketing manager, Lucie, put an even higher price expectation for the token. Lucie insisted that SHIB will reach $0.0000686, representing an increase of over 170% from the market price.
Meanwhile, Shiba Inu is trading at $0.00002497, up 4% in the last 24 hours.
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