The expert now notes the similarity between SHIB and Dogecoin and forecasts that the price of this coin could increase to $0.000049, aiming for triple-digit growth.
Shiba Inu is likely to see significant price increases as an analyst suggests its price could follow a similar path to Dogecoin, the leading meme coin.
Dogecoin recently surged over 100% to $0.4359, thanks to its connection with Elon Musk, who played a crucial role in Donald Trump's electoral victory.
This price surge temporarily pushed Dogecoin's market capitalization to $65 trillion, surpassing XRP's valuation.
Although the price of Shiba Inu has increased by 39% in the past month, there has not yet been explosive growth like that of Dogecoin.
The meme coin based on Ethereum has surpassed the resistance level at $0.000021, but has not yet kept pace with stronger assets like XRP and Solana.
Analyst Ali Martinez pointed out the similarity between Shiba Inu's chart and Dogecoin's chart before the price of this coin surged significantly.
He predicts that if this pattern continues, the price of Shiba Inu could rise nearly 100%, potentially reaching a three-year high of $0.000049.
He shared the supporting chart for this prediction.
Martinez previously speculated that Shiba Inu could rise to $0.000039, noting that similar price increases also occurred when whales withdrew large amounts of SHIB from exchanges.
Other analysts also have a positive outlook on Shiba Inu.
For example, analyst Carl “The Moon” suggests the price could rise to $0.00003630 if it increases.
Meanwhile, Lucie, the marketing director of Shiba Inu, is even more optimistic when predicting the price at $0.0000686, corresponding to an increase of over 170%. Currently, Shiba Inu is trading at $0.00002742.
