Crypto analysts have proposed that the Shiba Inu price prediction could increase to $0.000037 if Bitcoin reaches $100,000.
The price of the Shiba Inu is currently experiencing a substantial decline compared to that of Bitcoin. Nevertheless, crypto analysts have proposed that Shiba Inu could experience a parabolic rally if the flagship crypto were to experience a bullish reversal above $100,000.
The price of the Shiba Inu may increase to $0.000037 as Bitcoin surpasses $100,000
Crypto analyst Rose predicted in an X post that Shiba Inu could soon experience a significant increase in value, potentially reaching $0.000037372. This occurred as the analyst disclosed that the top meme coin is trading within a consolidation phase, indicating the potential for a breakout.
The analyst also stated that the accumulation zone is between $0.00002387 and $0.00002541, which gives investors an opportunity to accumulate within this range. By this, Rose declared that the subsequent targets for SHIB are $0.000031040, $0.000034024, and $0.000037372 if the Shiba Inu price surpasses this resistance.
According to the analyst, the meme coin continues to be a critical asset for monitoring short-term growth. The meme coin is a valuable asset to watch, mainly if the Bitcoin price were to experience a bullish reversal to the upside and surpass the $100,000 threshold.
Based on the data from IntoTheBlock, the price correlation between Shiba Inu and Bitcoin is currently 0.88, indicating a robust positive correlation. Consequently, SHIB will likely experience a bullish continuation as BTC ascends.
SHIB is still pursuing the current ATH
Crypto analyst Javon Marks recently proposed that the Shiba Inu price is still on the verge of surpassing its current all-time high (ATH) of $0.00008 and could do so shortly. This occurred when he declared that SHIB appeared to be in some of its most favorable circumstances in years.
Additionally, he stated that the meme coin is currently holding well and has increased by over 162%. Additionally, it has demonstrated significant positive responses to a recent Hidden Bullish Divergence. The analyst suggested this divergence could indicate a move of over 75% above the 2024 highs.
Javon Marks stated that this may only be a smaller portion of a much larger 215% uphill run to the first overall breakout target at $0.000081. By this, the analyst predicted that a Shiba Inu price increase of over threefold could be imminent.
The meme coin’s outlook is optimistic due to the recent 4,500% increase in the burn rate of Shiba Inu. The meme coin is also being actively accumulated by SHIB whales, potentially leading to an imminent price increase.
