'Dogecoin Killer' Shiba Inu Is 'Catching Up' To DOGE, Says Crypto Analyst: 'On-Chain There Is A Lot More Craziness'
Portfolio Pulse from Mehab Qureshi
Cryptocurrency analysts are optimistic about Shiba Inu (SHIB) reaching new all-time highs, noting its significant rise and potential to outperform Dogecoin (DOGE). SHIB has surged nearly +400% and needs to rally an additional +120% to achieve new highs. Analysts highlight key resistance levels and compare SHIB's market cap growth to established tech firms. Investor Oscar Ramos predicts SHIB could reach $0.0001 in the 2024 bullish cycle.
March 06, 2024 | 10:05 am
News sentiment analysis
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NEUTRAL IMPACT
Dogecoin (DOGE) is mentioned as a comparative benchmark to Shiba Inu's performance, with SHIB catching up in market cap and performance.
While DOGE is used as a comparative measure, the direct impact on its price is less clear, but it could see indirect effects from SHIB's movements.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Shiba Inu (SHIB) is on the verge of reaching new all-time highs, with a significant rally and optimistic predictions from analysts and investors.
The positive sentiment from analysts and specific price targets suggest a strong bullish outlook for SHIB, potentially driving its price up in the short term.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100