Shiba Inu (SHIB) Mirrors Dogecoin's Path: Is A +100% Move On Horizon?

Shiba Inu Poised for Massive Rally

The cryptocurrency market is thriving, with Bitcoin (BTC) setting a new all-time high of $99,502 and approaching $100,000. Alongside Bitcoin's rise, memecoins like Dogecoin (DOGE) and Shiba Inu (SHIB) are gaining attention with notable price increases.

Dogecoin and Shiba Inu's Similar Trajectory

While DOGE has surged over 180% in the last 30 days, SHIB is following suit with a 38% gain during the same period. Chart analysis suggests that SHIB may be poised for a similar massive rally, potentially mirroring DOGE's recent breakout.

Technical Analysis

SHIB's price action closely resembles DOGE's movements prior to its explosive rally. SHIB is currently trading at $0.00002465, consolidating above a critical resistance zone that has now become a support level.

Potential Upside

If SHIB continues to follow DOGE's pattern, a 100% move is conceivable. The next key resistance levels are $0.000035 and $0.000050, representing a potential doubling of the current price.

Key Indicators

• Immediate Resistance: $0.000029 and $0.000035
• Major Target: $0.000051 (100% surge)
• Support Levels: $0.000020

Conclusion

Shiba Inu (SHIB) exhibits bullish signals and appears poised to emulate Dogecoin's rally. With Bitcoin leading the market surge, SHIB has the potential to achieve a significant surge in the coming weeks.

Disclaimer: This article provides informational purposes only and does not constitute financial advice. Investors should conduct thorough research before investing in cryptocurrencies.