đ„ Shiba Inu Price Prediction: SHIB Shows Unusually High Strength Against Dogecoin
Crypto analyst Cold Blooded Shiller has provided insight into the Shiba Inu (SHIB) future trajectory in relation to Dogecoin. The analyst suggested that the second-largest meme coin by market cap could be coming for Dogecoinâs position soon enough, given its recent bullish strength.
đž Shiba Inu Is Poised To Rip Through The Charts
Cold Blooded Shiller mentioned in an X (formerly Twitter) post that he believes Shiba Inu will soon âsend,â meaning that the meme coin will soon experience a parabolic move to the upside. He noted that Shiba Inuâs performance has been âunusualâ over the last few days. Based on his technical analysis, he claimed that Shiba Inu is âpositioned very wellâ on the higher time frame (HTF).
On the lower time frame, the crypto analyst added that Shiba Inu has âbeen very strongâ compared to Dogecoin, which he noted isnât âtypical.â Cold Blooded Shiller also remarked that Shiba Inu has had one of the quickest and strongest market recoveries in the last 24 hours. Indeed, Shiba Inuâs performance in the last 24 hours has been impressive.
The meme coin has experienced a price gain of over 13% in the last 24 hours, which has caused it to overtake Cardano and climb into the tenth spot among the top cryptocurrencies by market cap. Crypto analyst and influencer Ansem also suggested that this is just the beginning of Shiba Inuâs price rally, stating that the meme coin is about to get âjiggyâ while sharing a chart that hinted at an imminent price breakout for Shiba Inu.
Shiba Inuâs rise is believed to be due to several factors, including the sentiment around the Ethereum Spot ETFs. Ethereum-based tokens are bound to benefit from the hype around these funds. Coinbase International Exchange also recently announced that it will add support for Shiba Inu perpetual on its platform starting May 30th.
The recent market trend has also contributed to Shiba Inuâs double-digit rally, with meme coins arguably the leading narrative at the moment.
