Shiba Inu has enjoyed popularity for quite some time now. The supposed “dogecoin killer” is garnering immense fame among meme coins. Many space enthusiasts are considering the possibility of a doge bull run.
The Doge-run was arguably one of a kind. which saw the rally of prices mooning to ranges of ~12,000%. Meanwhile, enthusiasts react differently to the possibilities of SHIB following a similar rally. While some are optimistic about the rally, others find it difficult to digest.
SHIB is considered an alternative to DOGE in the industry. It does hold an upper hand over the latter in certain aspects. What could possibly propel the piece in front of its competitor. The aspects in which it excels are:
- SHIB is cheaper than its counterpart.
- It has certain practical use cases, despite being a meme coin.
- Unlike DOGE, there is a finite amount of SHIB.
- Overwhelming follower base.
What if Shiba INU becomes the next Dogecoin?
As mentioned above, the perception of investors and traders is keen. Certain sections of netizens believe the uptrend to be possible owing to its capabilities over Doge. Some believe that coins do no harm if they are invested wisely. Netizens expect the coin to reach under the top 5, triggering BTC as well. Meanwhile, others think the market cap of large coins is too high a target for the coin. And to be a victim of the pump and the emptying.
On the contrary, the crypto space has withnessed gigantic rise of DOGE price with more than 10,000% gains. The popular coin has just risen under the influence of famous personalities and influencers. If in case SHIB price gets such attention, then it may hit huge highs or may even enter the top 10 crypto-list too.
However, the meme token also fell off the cliff, which might raise some concern, but its ability to hold high above $ 0.2 could be a notable achievement. Therefore, if SHIB price tends to follow the DOGE type rally, it may kill a couple of zero’s in its price. And eventually, reach its ATH.
Shiba INU Price Analysis (SHIB)
The SHIB price got off to a fairly good start to the last quarter of 2021. The price just kept marching towards the north at frequent intervals. Interestingly, the first weekend of the fourth quarter triggered the uptrend, so the price appears to have pulled yet another huge upside.
Currently, the SHIB price is testing one of the pivotal resistance levels that has previously been repeatedly rejected. The price needs to surpass the levels around $0.00000950 and sustain in order to reduce a zero. However, the price has become completely parabolic and can form a “cup and handle” pattern. Therefore if the pattern becomes realistic, then a slight pullback within the parallel channel with healthy consolidation could be on the horizon.
Collectively, the Shiba INU price appears to have aimed for higher highs being strongly balanced. As the Dogecoin price is still consolidating within certain ranges, SHIB price may grasp the opportunity to propel higher than expected. However, market sentiment turned in favor of the coin with the volume hitting the sky.
