Shiba Inu (SHIB) Price Prediction: Will the Meme Coin Finally Outperform XRP and Dogecoin?

Shiba Inu (SHIB), the meme coin often overshadowed by larger assets like XRP and Dogecoin, is showing promising signs of a potential price surge.

Shiba Inu (SHIB), the meme coin that has often been overshadowed by larger assets like XRP and Dogecoin, is showing promising signs of a potential price surge.

After displaying resilience despite a minor correction earlier this week, SHIB has shown strength with a 9% upsurge, bringing its price to $0.00002413. However, Shiba Inu lags behind the broader market, with gains of 8% compared to XRP's 43% and Dogecoin's 18%. But analysts are closely watching SHIB for signs of a larger move.

A closer examination of SHIB's chart reveals a significant pattern that could indicate an upcoming breakout. According to the well-respected TradingView analyst SimpleTrader2018, Shiba Inu is forming a symmetrical triangle formation on its monthly chart. This compression phase, which began around six months ago after SHIB hit lows of $0.00001083 in August 2024, has seen the meme coin consolidate. From briefly peaking at $0.00003341 in December, SHIB returned to a tighter range.

SimpleTrader2018 analysis suggests that once SHIB breaks out of this structure, it will likely experience a strong rally within one or two months. The analysis predicts that the momentum is shifting, and SHIB could soon regain its bullish steam.

Shiba Inu's Potential $0.00023 Target

Another analysis highlights Shiba Inu's technicals as favorable for an explosive surge. According to the market commentator CryptoELITE, SHIB could see a tenfold increase, targeting a price of $0.00023 following a breakout. This analysis is based on the meme coin's formation of a symmetrical triangle, which began around March 2024 when SHIB briefly hit $0.00004567.

In line with this view, market expert Alan Santana has also set a price target of $0.00023 for Shiba Inu, suggesting that this rally will unfold within this year. Both analyses anticipate Shiba Inu's breakout imminently, with those watching the coin closely expecting a strong upside move.

Shiba Inu has seen healthy price accumulation, which could lead to a breakout. With analysts predicting an explosive rise to $0.00023, the coming months could be crucial for SHIB holders. As the price holds today with a 9% gain, all eyes are on SHIB's next move in the broader market.