Shiba Rally Incoming? Here is the Target for this Bull Run

Shiba Inu (SHIB) has experienced a 4% surge in the past 24 hours, reclaiming the price level of $0.000019. This comes as the broader digital asset market shows signs of recovery and aims to reach new highs. In contrast, Dogecoin (DOGE), a competitor to SHIB, has outperformed SHIB with a staggering 10.54% increase in the last day.

Currently, Shiba Inu is trading between the price levels of $0.000011 and $0.000020, struggling to establish $0.000020 as a strong support level. The meme coin is trading at a significant discount of 79.01% from its all-time high of $0.00008845, which was achieved in October 2021.

A renowned analyst on X (formerly Twitter) named “MauticBraham” has set a price target of $0.00008614 for SHIB in the current cycle. This forecast suggests a potential fourfold increase in the value of SHIB if the prediction materializes.

As of the latest data, SHIB is trading at $0.000019, reflecting a 4% increase over the past 24 hours. With a market capitalization of $11.21 billion, SHIB holds the position of the 13th largest digital asset by market cap. On the other hand, DOGE ranks 8th with a market cap of $18.73 billion.

DOGE has shown superior performance compared to SHIB, trading at $0.1279 with a 10.54% gain in the last 24 hours. The digital asset has been on an upward trend, rising by 24.49% in the last 30 days and 16.27% in the past week alone.

The Relative Strength Index (RSI) for SHIB is currently at 62.75, indicating that the bulls are in control of the price action, and there is a strong demand for the altcoin. The chart suggests an increasing accumulation of SHIB, although there is a slight decrease in bullish momentum due to low trading volumes.

In conclusion, Shiba Inu and Dogecoin continue to be in the spotlight as they navigate through the volatile crypto market. Investors and enthusiasts are closely monitoring the price movements of these meme coins to capitalize on potential opportunities. It will be interesting to see how SHIB and DOGE perform in the coming days as the market dynamics evolve.