Shiba Inu is trailing behind Dogecoin in recent gains, but experts predict it will soon outperform DOGE with upcoming explosive price movements.
This week, Shiba Inu significantly lagged behind the meme coin bull run that dominated the crypto market. At press time, Shiba Inu trades at $0.00002529, reflecting a 24-hour gain of 8.9%. On the weekly chart, Shiba Inu is up 33%, while its cumulative monthly gain is 38%.
Shiba Inu Lagging Behind Dogecoin
While these numbers are impressive, they pale in comparison to those of Dogecoin (DOGE). Dogecoin is trading at $0.3791, having risen by 4% today. At this price, DOGE boasts a weekly performance of 87%, while its 30-day performance shows even more explosive gains of 207%.
Similarly, other meme coins like PEPE, BONK, and FLOKI have seen 101% gains over the past week, while Shiba Inu has barely seen half that amount.
Members of the Shiba Inu Army have taken note of this disparity. However, community figures are reassuring SHIB enthusiasts that explosive price gains are on the horizon.
Shiba Inu Set to Outperform Dogecoin
Kevin Capital, the lead analyst for Dogecoin on X, recently shared his thoughts on the price movements of SHIB and DOGE. He noted that Shiba Inu is getting ready to outperform Dogecoin in the coming weeks after trailing behind for some time. “Big moves coming for SHIB,” he said, citing chart analysis.
Market Watchers Are Unanimous: Shiba Inu Set for a Big Move
Other market watchers have shared a similar sentiment. For instance, “SHIB Mortal” urged market participants to keep an eye on Shiba Inu, noting that a breakout could come at any moment. This analyst presented a chart showing that SHIB is at a breaking point following a prolonged downtrend.
Another analyst, Esk, mentioned that he is closely watching SHIB after it formed a falling wedge pattern heading into the weekend. This pattern is typically a bullish continuation signal in an uptrend. Given the promising sign, Esk disclosed that he has accumulated more SHIB tokens at current levels.
Another analyst, “SHIB Bezos,” pointed out that Shiba Inu is on the verge of repeating history, predicting that a parabolic phase is imminent. He shared a historical chart showing how SHIB previously experienced a strong rally, followed by a cooling-off period, before entering a parabolic phase in the last cycle.
He noted that a similar pattern is unfolding now. Shiba Inu saw a powerful move in Q1, followed by a seven-month cool-off, suggesting that the parabolic phase is set to follow.
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