The popular meme coin Shiba Inu (SHIB) seems to be preparing for an explosive price increase. This prediction from cryptocurrency analysts is based on three significant developments surrounding SHIB. According to technical analysis and fundamental trends in the memecoin market, the value of the altcoin could increase by up to 90% by early 2025.
SHIB follows the wave pattern of Dogecoin
Technical analysts point out that there is a striking pattern in the price movements of Shiba Inu (SHIB) and the largest meme coin in the cryptocurrency market, Dogecoin (DOGE). Historical data shows that SHIB's performance often tends to outperform DOGE periodically, which analysts refer to as a volatility dynamic. In this cycle, DOGE typically leads the price increase, followed by SHIB taking the lead.
Currently, Dogecoin is showing a stronger upward momentum. Over the past 7 days, DOGE has increased by 21.6%, while SHIB has risen by 8.5%. However, analysts remain cautious about a potential shift in trends, believing that SHIB may perform well again.
Technical patterns predict a 90% rebound for SHIB
In addition to historical trends, analysts have also found that the technical patterns on the SHIB/USD candlestick chart are fueling optimism. The so-called cup and handle pattern visible on the candlestick chart is considered a bullish signal. If this pattern continues to develop, the price of Shiba Inu could rise above $0.000035, an increase of over 90% from the current $0.000019.
Technical Analysis SHIB Price – TradingView
Innovation center strengthens SHIB ecosystem
Aside from technical and historical signals, the Shiba Inu ecosystem is striving to develop. The network has proposed the establishment of an innovation and blockchain strategy center in the United States (abbreviated as SHIB). This innovation center should promote the adoption of the Shiba Inu ecosystem and facilitate cooperation with (local) authorities.
As Donald Trump may potentially run for president again in 2025, developers hope to gain more regulatory and collaborative opportunities, which could positively impact SHIB stocks in the coming years.
