Shiba Inu (SHIB) Price Prediction: Experts Anticipate a Massive 306% Price Surge

Experts are confident that Shiba Inu could potentially undergo a massive price surge on the back of a positive overall outlook on cryptocurrency.

Market analysts are expressing confidence in a potential massive price surge for Shiba Inu (SHIB) in the coming days, fueled by a positive overall outlook on the cryptocurrency market.

Following Donald Trump’s victory in the recently concluded US election, waves of optimism are sweeping through the crypto market, presenting an opportunity for SHIB to ride the wave to a 306% price hike.

Shiba Inu could soar by at least 306% as the entire cryptocurrency market goes into overdrive, excited by the results of the US elections, a market analyst predicted.

In a post, analyst Javon Marks pointed out that it could potentially hit the $0.00081 mark, adding that this price surge is imminent for the meme coin and being forecasted to happen really soon.

According to data, the meme coin has formed a Hidden Bull Divergence pattern, and reports explain that the Hidden Bull Divergence is a bullish indicator that usually occurs before a price rally.

Furthermore, analysts noted that the cryptocurrency has already broken out of the consolidation phase, which could strengthen the bullish outlook for the meme coin.

Throughout its bull run, market analysts have observed a correlation between the price movements of Shiba Inu and Bitcoin, suggesting that any price surge with Bitcoin could also indicate a price movement for the meme coin.

Many analysts are closely monitoring this correlation as Bitcoin prices are soaring on the back of the newfound optimism in the overall crypto market.

In previous reports, analysts discussed how Shiba Inu typically follows the price movements of Bitcoin, showing a strong correlation between the two cryptocurrencies.

They noted that whenever Bitcoin crashed, the meme coin’s price also went down. Hence, any massive hike in Bitcoin could propel Shiba Inu into exponential growth.

Many market observers are predicting that Bitcoin is set for a massive price surge, and in the last few days, the firstborn crypto has been hitting an all-time high price per coin. Therefore, BTC’s predicted price movement could also push Shiba Inu to its projected price.

Meanwhile, analysts have suggested that the market capitalization of Shiba Inu would soar and its price would increase by 950% once the market valuation of the global cryptocurrency reaches the $10 trillion mark.

According to market commentators, if the $10 trillion market cap occurs, the meme coin would be trading at $0.0002, boosting its market capitalization to $118 billion.

At the time of writing, the total global market capitalization of the crypto sector is pegged at $2.61 trillion, while the current market cap of Shiba Inu is around $11.21 billion.

Featured image from Chewy, chart from TradingView