Shiba Inu Price Forecast: Analyst Predicts 400% Surge – Will SHIB Overtake DOGE?

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Joel Frank

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Joel Frank

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Since graduating with a degree in economics from the University of Birmingham in 2018, Joel has worked as a financial market/cryptocurrency analyst. He firmly believes that emerging crypto technology…

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Last updated:

October 17, 2024 16:41 EDT

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Shiba Inu (SHIB) price forecasts are turning bullish, with one popular TradingView user predicting a stunning 400% surge in the coming months and weeks.

According to TradingView user without_worries, SHIB has broken out of a downtrend, setting up a repeat of its 400% surge in late February/early March.

With SHIB last close to $0.000018, another 400% surge would see the Shiba Inu price return to near its all-time highs in the $0.000080 area.

A 400% surge would see SHIB’s market cap swell from around $10.57 billion to over $40 billion.

That’s well above Dogecoin (DOGE)’s current market cap of around $18 billion.

Will SHIB Overtake DOGE?

Of course, if the Shiba Inu price experiences a rapid surge, Dogecoin would also be expected to surge.

And it would be a tough ask for Shiba Inu to catch up.

Dogecoin has the advantage of being older, being on its own decentralized blockchain (unlike SHIB, which is an ERC-20 token), and having the backing of world-famous billionaire Elon Musk.

Where Next for the Shiba Inu (SHIB) Price?

Shiba Inu (SHIB) has recently been consolidating within a pennant structure, suggesting a rising likelihood of a near-term breakout.

That syncs up well with without_worries analysis.

A near-term surge towards the $0.000030s area could be on the cards, marking the first leg of the potential 400% rally.

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