Experts believe that in the context of a generally optimistic outlook for cryptocurrencies, the price of Shiba Inu may experience a significant increase.
Donald Trump has just won the U.S. election, and this news has injected optimism into the cryptocurrency market, making it possible for Shiba Inu (SHIB Inu) to see an increase of over 306%.
Shiba Inu: Potential Explosion
Market analysts predict that due to the impact of the U.S. election results, the entire cryptocurrency market will experience rapid growth, and the price of Shiba Inu may soar significantly, increasing by at least 306%.
Analyst Javon Marks mentioned in an article that the price of Shiba Inu could reach $0.00081, stating that this rapid increase is very urgent for Shiba Inu and is expected to happen soon.
Data shows that meme coins have begun to show signs of hidden bullish divergence. The report explains that hidden bullish divergence is a bullish signal that typically appears before a significant price increase.
Analysts also mentioned that this cryptocurrency has broken through its previous consolidation phase, which may inject more momentum into its bullish prospects.
The relationship between Shiba Inu and Bitcoin
Analysts point out that the price of Shiba Inu is somewhat correlated with the trend of Bitcoin, and they believe that the price fluctuations of Bitcoin often affect the performance of Shiba Inu.
As the sentiment in the cryptocurrency market gradually recovers and the price of Bitcoin continues to rise, many analysts are closely monitoring this market correlation.
In previous reports, analysts mentioned that the price of Shiba Inu typically follows the trend of Bitcoin, indicating a close correlation between them.
They noted that whenever Bitcoin experiences a significant drop, the prices of meme coins like Shiba Inu are also affected and decline. Therefore, any strong rise in Bitcoin could quickly drive up the price of Shiba Inu.
Many market observers predict that the price of Bitcoin will continue to rise, and in recent days, the price of Bitcoin has reached a historic high. Therefore, the price trend of Bitcoin may also drive Shiba Inu towards its expected target.
Market capitalization is expected to reach $118 billion
Analysts state that once the total valuation of the global cryptocurrency market breaks through the $10 trillion mark, the market capitalization of Shiba Inu is expected to soar significantly, with a potential price increase of 950%.
Market commentators believe that if the total market capitalization of the cryptocurrency market reaches $10 trillion, the trading price of Shiba Inu could reach $0.0002, with its market capitalization soaring to $118 billion.
Currently, the global total market capitalization of the cryptocurrency industry is $2.61 trillion, while the market capitalization of Shiba Inu is approximately $11.21 billion.
