SHIB Targets Key Resistance Levels To Outpace Dogecoin

The rivalry between Shiba Inu (SHIB) and Dogecoin (DOGE) continues to rage, making headlines and becoming a top discussion among crypto community members.

A recent chart analysis by investment firm Sistine Research suggests that Shiba Inu (SHIB) might be poised to outperform Dogecoin (DOGE) in 2025. The analysis highlights key resistance and support levels that could contribute to a significant price rally for SHIB.

In a recent X (formerly Twitter) post, Sistine released a detailed chart of the SHIB/DOGE trading pair. "This is a very interesting chart," the firm stated.

The chart demonstrates SHIB bouncing off a lower support zone against DOGE, with the upward move towards the higher resistance levels potentially indicating that Shiba Inu could gain value and outpace Dogecoin by 2025.

Sistine's analysis illuminates a consistent price pattern where established resistance and support levels have impacted the trajectory and performance of Shiba Inu against Dogecoin.

Based on the chart, since mid-2021, Shiba Inu has showcased a somewhat stable support zone around the price range of 0.00008 to 0.000105 DOGE. On another note, the resistance price range between 0.00019 and 0.00023 DOGE has often acted as a barrier, limiting Shiba Inu's upward price movements.

Additionally, in November 2022, Shiba Inu experienced a sharp drop from 0.000202 DOGE to 0.0000841 DOGE. Nevertheless, the meme coin managed to hold onto critical support levels, which helped propel it back to 0.00013 DOGE by February 2023.

Following the chart's pattern, it can be noted that throughout 2023, Shiba Inu held on and consistently tested this support level. However, as the meme coin attempted to breach upper resistance levels at around 0.00019 and 0.00023 DOGE, selling pressures kicked in and triggered a significant decline for SHIB, pushing its price down to lower levels.

The overall conclusion of Sistine's SHIB/DOGE chart suggests that the above trading patterns appear to be repeating for SHIB, with the support level providing a potential base for a breakout and recovery. With Shiba Inu now trading in the lower support range again, Sistine believes this support could serve as a launch pad for SHIB, potentially pushing the meme coin up to the resistance area near 0.00019 DOGE.

This implies a whopping 95% increase from current levels, a slight decrease from the 110% rally experienced by the meme coin in the previous cycle when it witnessed a similar movement from the support zone to the resistance level. Moreover, if Shiba Inu can maintain bullish momentum, Sistine sees it outperforming Dogecoin by 2025.

As of writing, the price of Shiba Inu is trading at $0.000019, marking a 7.16% increase over the past week, according to CoinMarketCap.