Expert Notes Resemblance Between SHIB and Dogecoin, Predicts Potential Price Surge

Shiba Inu (SHIB) is poised for a significant price increase, according to an analyst who has identified similarities in its chart to Dogecoin (DOGE) before its recent surge.

Dogecoin experienced a meteoric rise over 100% to reach $0.4359, propelled by its connection to Elon Musk. This surge temporarily pushed Dogecoin's market cap to $65 trillion.

While SHIB has witnessed a 39% increase over the past month, it has not matched Dogecoin's explosive growth. However, it recently surpassed a resistance level of $0.000021.

Analyst Ali Martinez has drawn attention to the resemblance between SHIB's chart and Dogecoin's before its significant price jump. He predicts that if this pattern holds, SHIB could see a near 100% increase, potentially reaching $0.000049.

Martinez has previously speculated that SHIB might rise to $0.000039, based on similar price movements in the past.

Other analysts share a positive outlook for SHIB. Carl "The Moon" suggested it could rise to $0.00003630 if it breaks upward. Lucie, Shiba Inu's marketing lead, predicts a price of $0.0000686, representing an increase of over 170%.

Currently, SHIB is trading at $0.00002742.