Shiba Inu may currently be lagging behind Dogecoin, but analysts are optimistic about its future, forecasting an imminent surge that could see it surpass its rival with explosive price movements.
Current Performance Analysis: Shiba Inu vs. Dogecoin
This week, Shiba Inu has underperformed in the broader meme coin bull run that has energized the crypto market. At the moment, SHIB is trading at $0.00002529, marking an 8.9% gain over the past 24 hours. On a weekly scale, SHIB is up by 33%, while its monthly gains stand at 38%.
However, these figures appear modest when compared to Dogecoin (DOGE), which is currently priced at $0.3791. DOGE has posted a 4% increase today, with an impressive 87% rise over the past week and an outstanding 207% surge over the past 30 days.
| Coin | Current Price | 24-Hour Gain | Weekly Gain | Monthly Gain |
|---|---|---|---|---|
| Shiba Inu (SHIB) | $0.00002529 | 8.9% | 33% | 38% |
| Dogecoin (DOGE) | $0.3791 | 4% | 87% | 207% |
Meme Coins Outperforming Shiba Inu
Other meme coins like PEPE, BONK, and FLOKI have seen impressive gains, with each rising by 101% over the past week.
In contrast, Shiba Inu’s performance has been less dramatic, achieving just half of these gains. Despite this, members of the Shiba Inu Army are confident that SHIB’s major breakout is just around the corner.
Analysts Forecast a Bullish Turnaround for Shiba Inu
Kevin Capital: Shiba Inu Poised to Outperform Dogecoin
Kevin Capital, a prominent Dogecoin analyst, recently expressed his bullish outlook for Shiba Inu.
According to him, after trailing behind Dogecoin for some time, SHIB is gearing up for a substantial move. “Big moves coming for SHIB,” he stated, drawing on his chart analysis to support his prediction.
Consensus Among Market Experts: Shiba Inu’s Breakout Is Imminent
Multiple market analysts share this positive outlook. SHIB Mortal, another respected figure in the crypto space, advised traders to keep an eye on Shiba Inu, noting that it is on the cusp of a breakout after a prolonged downtrend. He shared a chart suggesting that SHIB is nearing a crucial breaking point.
Similarly, analyst Esk is monitoring SHIB closely as it has formed a falling wedge pattern, typically indicative of a bullish continuation in an uptrend. Convinced by this technical signal, Esk revealed that he has been accumulating more SHIB tokens at the current price levels.
SHIB Bezos Predicts Parabolic Rally
A third analyst, SHIB Bezos, predicts that Shiba Inu is on the brink of a parabolic phase. He highlighted that a similar sequence played out in SHIB’s past cycles—featuring a strong initial rally, followed by a cooling-off period, and then an explosive parabolic surge.
According to his analysis, SHIB’s Q1 rally was followed by a seven-month cooldown, suggesting that another parabolic move is on the horizon.