Will Shiba Inu Price Jump Over 300%? This Analyst Thinks So

Christian Encila

8 months ago

3 mins read

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Experts are confident that Shiba Inu could potentially undergo a massive price surge on the back of a positive overall outlook on cryptocurrency.

Donald Trump’s victory in the recently concluded US election brings waves of optimism in the cryptocurrency market which SHIB Inu can ride on to propel it to a 306% price hike.

Shiba Inu: Explosive Growth

A market analyst predicted that the price of Shiba Inu could soar by at least 306%, as the entire cryptocurrency market is going on an overdrive excited by the results of the US elections.

In a post, analyst Javon Marks said that it could potentially hit the $0.00081 mark, adding that this price surge is imminent for the meme coin and being forecasted to happen really soon.

Still fairly fresh off of a confirmed Hidden Bull Divergence and holding broken out, $SHIB (Shiba Inu), in the midst of a roaring Bitcoin market, can be getting ready for its next level performance towards the $0.00081 target!

This target’s currently over 306% away and a push to… https://t.co/0ySjEfPQgF pic.twitter.com/DwklAFs8zj

— JAVON⚡️MARKS (@JavonTM1) November 8, 2024

“Still fairly fresh off of a confirmed Hidden Bull Divergence and holding broken out, $SHIB (Shiba Inu), in the midst of a roaring Bitcoin market, can be getting ready for its next level performance towards the $0.00081 target,” Marks said.

Data showed that the meme coin has formed a Hidden Bull Divergence pattern. Reports explained that the Hidden Bull Divergence is a bullish indicator that usually occurs before a price rally happens.

Moreover, analysts said that the cryptocurrency has already breached the consolidation phase which could beef up the bullish outlook for the meme coin.

Shiba Inu-Bitcoin Relationship

Analysts pointed out that there is a relationship between the price movement of Shiba Inu and Bitcoin, saying that any price movement with Bitcoin could also mean price movement for the meme coin.

It is a correlation being monitored by many analysts as Bitcoin prices are soaring on the back of the newfound optimism on the overall crypto market.

SHIB market cap currently at $11.2 billion. Chart: TradingView

In previous reports, analysts discussed that Shiba Inu usually trails the price movement of Bitcoin, showing that there is a strong correlation between the two cryptocurrencies.

They noted that whenever Bitcoin collapsed, the meme coin’s price also went down. Hence, any massive hike in Bitcoin could propel Shiba Inu into exponential growth.

Many market observers are predicting that Bitcoin is on track for a massive price surge and in the last few days, the firstborn crypto has been hitting an all-time high price per coin. Therefore, BTC’s predicted price movement could also push Shiba Inu to its projected price.

We aren’t even close to my crypto total MC prediction. Will it get there? Seems possible and likely imo.

$10T+ $SHIB .0002 likely$BONE $50-$100$LEASH $15k-$20k $ETH $17k+$BTC $250k best case scenario$CRO $2.70$DOGE $2.70-$5

There may be a lot of “projects” out there…

— HorBull™ (@HorBull) November 6, 2024

$118 Billion Market Cap Seen

Meanwhile, analysts suggested that the market capitalization of Shiba Inu would soar and its price would increase by 950% once the market valuation of the global cryptocurrency reaches the $10 trillion mark.

Market commentators said that if the $10 trillion market cap happens, the meme coin would be traded at $0.0002 and elevate its market capitalization to $118 billion.

As of writing, the total global market capitalization of the crypto sector is pegged at $2.61 trillion while the current market cap of Shiba Inu is about $11.21 billion.

Featured image from Chewy, chart from TradingView

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

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