How High Will the Shiba Inu Price Reach If Bitcoin Hits $100,000?
Shiba Inu (SHIB), a popular meme coin, often mirrors Bitcoin's movements. Currently, SHIB is trading around $0.00001290, marking a 30% increase from its lowest point this year.
Analysts suggest that if Bitcoin reaches $100,000, SHIB could rise to approximately $0.000037. This prediction is based on SHIB's strong correlation with Bitcoin, which stands at 0.88, indicating that SHIB's price tends to follow Bitcoin's trends.
Technical indicators also point to potential growth. SHIB is currently in a consolidation phase, with an accumulation zone between $0.00002387 and $0.00002541. A breakout above this range could lead to targets of $0.000031040, $0.000034024, and ultimately $0.000037372.
Furthermore, SHIB's burn rate has recently spiked by 4,500%, reducing the token's supply and potentially increasing its value. Large holders, or "whales," are also accumulating SHIB, which could support a price rally.
In summary, if Bitcoin hits $100,000, SHIB could see significant gains, possibly reaching $0.000037, driven by its correlation with Bitcoin, technical patterns, and supply dynamics.
