The Dogecoin (CCC:DOGE-USD) renaissance is not over just yet; the coin is in the middle of a steady rebound precipitated by an incoming upgrade. It’s not near it’s early May all-time highs. But, the meme crypto is closing in on its three-month high of around 38 cents. The coin hasn’t seen this level since June. Of course, when the king meme goes up, its court moves in sympathy. As such, dog cryptos like Shiba Inu (CCC:SHIB-USD) are seeing a rebound. Now, investors are taking up interest in Shiba Inu price predictions to see where the token might go.
Shiba Inu came to existence in April of this year. It is a product that is circulating in response to Dogecoin’s huge upward run from less than one cent to over 73 cents. The token aimed to steal Dogecoin’s thunder, with promises of uniting the greater crypto community and overtaking Dogecoin in value.
Its attempt to kill the king of meme cryptos has been less than successful. But, the token has benefited its holders with its rampant volatility. Outside of moving in sympathy with DOGE, as well as the odd update here and there, price movements for the token are dictated almost entirely by random influxes of trading.
Couple this volatility with Dogecoin’s recent climbing gains, and analysts have reason to believe Shiba Inu will continue up for the time being. As FXStreet reports, Shiba Inu-themed tokens are noted to have similar buying patterns to Dogecoin, and until it hits the 40-cent resistance level, we can believe that SHIB will continue upward.
Shiba Inu Price Predictions: How Far Can Dogecoin Sympathy Take SHIB?
Just how high can Dogecoin bring Shiba Inu on its climb back toward $1? Let’s take a look at what analysts are saying about the meme token:
- Wallet Investor predicts that in a year’s time, Shiba Inu can grow from its current price of $0.000007 to $0.000019. The represents a 171% increase.
- CoinPriceForecast is predicting the token’s price by the end of December to be $0.000013, a gain of 85.7%.
- The Economy Forecast Agency predicts SHIB prices will stagnate through the rest of the year, remaining at its current price through December.