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The price of Shiba Inu is currently experiencing a significant correction alongside Bitcoin 
$104,624. However, cryptocurrency experts suggest that if Bitcoin surpasses the $100,000 mark, Shiba Inu could witness a parabolic rise in its value.
Analyst Rose Anticipates an Upsurge for SHIB
Crypto analyst Rose predicts that Shiba Inu could soon reach the price level of $0.000037372. The analyst notes that the currently consolidating meme coin has the potential for a breakout. If Shiba Inu’s price exceeds this resistance level, the next targets would be $0.000031040, $0.000034024, and $0.000037372.
Rose also mentions that Shiba Inu’s price is currently in an accumulation zone between $0.00002387 and $0.00002541, providing investors with potential accumulation opportunities. According to IntoTheBlock data, the price correlation between Shiba Inu and Bitcoin is currently 0.88, indicating a strong positive price correlation. Therefore, if BTC moves upward, it is likely that SHIB will continue to rise as well.
Javon Marks Sees SHIB Approaching New All-Time High
Crypto analyst Javon Marks states that Shiba Inu is continuing to approach its current all-time high of $0.00008 and could achieve this soon. Marks expresses that SHIB is in some of the best positions it has seen in years. He notes that the meme coin has shown considerable positive responses, indicating the emergence of a hidden bullish divergence.
Marks adds that this divergence could signal a 75% upward movement beyond the peaks of 2024. Additionally, the analyst predicts a potential tripling of SHIB’s price soon, as whales actively continue to accumulate the meme coin.
As this anticipated price rally for Shiba Inu approaches, investors are closely monitoring current trends. The meme coin’s burn rate increase of 4,500% and whale movements are perceived as positive signs for the market.
Shiba Inu’s strong correlation with Bitcoin and ongoing accumulation processes present important indicators for the future performance of SHIB. Investors are shaping their decisions based on both technical analysis and market movements.
