Shiba Inu Price Prediction: Can SHIB Outperform Dogecoin?
Shiba Inu's Bullish Surge
Shiba Inu has enjoyed a remarkable rally this week, fueled by a growing bullish sentiment in the crypto market. But can SHIB continue to explode in the months ahead? Let's find out.
SHIB Outpaces Market, Breaks Resistance Against DOGE
It seems the SHIB Army is waking up. Shiba Inu has shown incredible strength this week, outpacing every other top 20 cryptocurrency. However, the big news is its breakout against Dogecoin. The TradingView SHIB/DOGE pair shows that SHIB has just broken a multi-month selloff against Dogecoin with an explosive green candle.
It has now created a higher high, indicating the 6-month downtrend may be over. And zooming out, the move confirms a new higher low amid a longer-term uptrend. The Fibonacci Retracement tool tells us that SHIB could double in value against DOGE on the next leg.
Prominent Shiba Inu community member and trader SHIB Knight notes that SHIB is forming a bull flag and predicts an uptrend continuation. According to the analyst, the next lower time frame rally will push SHIB 20% higher to $0.00024.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.