Shiba Inu Price Forecast: Expert Expect Prices to Rise by 400%
After doing analysis, traders are more optimistic about the price forecast of the Shiba Inu (SHIB) as one of the users of TradingView predicted that in a few weeks and months the price would rise by 400%.
Without_worries, a TradingView user states that SHIB is currently in an uptrend structure and stated that the price can increase by 400% like in February, March of this year.
SHIBâs most recent close was $0.000018, and projecting a price increase of 400% would bring Shiba Inu prices close to their all-time highs of around $0.000080.
If the estimation is accurate, then Shiba Inu interest would push its market cap from around $10.57 billion to more than $40 billion.
Above Dogecoinâs current market cap of approximately $18 billion.
Will SHIBâs value exceed that of DOGEâs?
If there were a sudden increase in Shiba Inu prices, then surely Dogecoinâs prices would also be skyrocketed.
And Shiba Inu would have to be quite a challenge to catch up as there will be delays.
Being older and existing on its own decentralized blockchain, unlike shib which runs on the ERC-20 network and has Elon Muskâs global backing gives Dogecoin an early advantage.
Whatâs the Projection of Shiba Inu (SHIB) Price Next?
Recent price action in Shiba Inu (SHIB) indicates that the cryptocurrency may be in a pennant structure consolidation phase and that the probability of a breakout occurring in the relatively near future is increasing.
It is possible that a protracted move towards the $0.000030s territory may take place. This would be the first leg in what would be a gradual 400% increment hike.
While the Shiba Inu price forecast has a give a lot of near-dated expectations, there are investors that shall seek more higher level potentials.
