đ„ Here is Shiba Inu Price if Bitcoin Hits $325K and ETH $22K as Predicted by VanEck
Shiba Inu price could exceed $0.0001 if SHIB trails the prices of Bitcoin and Ethereum should they hit $325K and $22K as predicted by VanEck.
Despite the market uncertainty, analysts at leading asset manager VanEck have made bullish price projections. These predictions are rooted on extensive research based on prevailing market conditions. Interestingly, should they materialize, they could have far-reaching effects on assets such as Shiba Inu.
đž Shiba Inu Price Correlation with BTC and ETH
Due to the price correlation that exists in the crypto market, if any of both of these assets hit these levels, Shiba Inuâs price could react positively. IntoTheBlock data indicates that SHIB witnesses a 30-day price correlation of 85% with Bitcoin.
Interestingly, the data shows that Shiba Inuâs price correlation with Ethereum is much higher within this timeframe, sitting at 94%. This 94% correlation confirms that SHIB has followed Ethereumâs footsteps more. However, the price correlation of 85% with BTC is also on the high side.
As a result, if Ethereum and Bitcoin clinch their bull case targets from VanEck, Shiba Inu price could see a similar surge. The Crypto Basic assessed how much SHIB could rise if it grew at the average rate of these projected surges. Notably, the average percentage rise for VanEckâs projections stands at 481%.
đž Shiba Inu Price Could Breach $0.0001
Meanwhile, Shiba Inuâs price has changed hands at $0.00001747 amid a 1.63% rise over the past 24 hours. If SHIB increases by an average of 481% from this level, its price will breach the much-coveted $0.0001 level to hit a high of $0.0001015.
So SHIB can reach $0.0001015 if Bitcoin rises to $325,000 and ETH $22,000. This would mark a new all-time high for the Shiba Inu price and the elimination of one leading zero.
Interestingly, multiple analysts have set the $0.0001 level as a potential target for Shiba Inu across several analyses.
