Shiba Inu Price Prediction: SHIB Shows Unusually High Strength Against Dogecoin

Shiba Inu Poised for Dominance over Dogecoin

Cryptocurrency analyst Cold Blooded Shiller predicts a bullish trajectory for Shiba Inu (SHIB), potentially surpassing Dogecoin in market capitalization.

Shiba Inu's Surge: A Technical Analysis

Shiller observes strong technical indicators for SHIB on higher time frames, suggesting a well-positioned asset. On lower time frames, the analyst notes SHIB's exceptional performance compared to Dogecoin, an unusual occurrence. Shiba Inu's rapid market recovery within the last 24 hours is also a bullish indication.

Factors Driving Shiba Inu's Rise

• Hype surrounding Ethereum Spot ETFs benefiting Ethereum-based tokens like SHIB.
• Coinbase International Exchange's upcoming support for SHIB perpetuals.
• Current market trend favoring meme coins, boosting Shiba Inu and other projects such as Pepe (PEPE) and Dogwifhat (WIF).

SHIB Team Celebrates Success

Shiba Inu's Marketing Lead, Lucie, attributes the coin's success to the loyal community. She highlights the following ecosystem developments contributing to its growth:

• Launch of Shibarium, a layer-2 network.
• $12 million in funding secured for a proposed layer-3 network.

Current Market Position

At the time of writing, Shiba Inu is trading at around $0.0000274, representing an over 12% increase in the last 24 hours. The coin has surpassed Cardano to become the 10th-largest cryptocurrency by market capitalization.