The rise in Shiba Coin price has attracted the attention of the market and analysts are touting a return to the previous all-time high. One analyst predicts that SHIB price has the potential to rise as high as $0.000081.
Shiba Coin Predictions
SHIB price is trading at $0.00001897, up 4% in the last 24 hours. This increase, Bitcoin 
$72,507It comes after ‘s soared to near all-time highs, continuing last week’s 5.7% increase. So, can SHIB price reach $0.000081?
Crypto analyst Oscar Ramos has examined several factors that increase the likelihood of the Shiba Inu price returning to its previous all-time high. Ramos notes that Bitcoin price has a strong impact on SHIB. There is currently an 83% correlation between Bitcoin and SHIB. This indicates that there is a high probability that the SHIB price will increase with the rise of Bitcoin.
US Elections and Market Impact
Ramos states that the ongoing election campaigns in the USA and the upcoming election day have significant effects on crypto markets. Donald Trump appears likely to win the presidency, according to Polymarket’s decentralized prediction market. This situation creates a positive atmosphere in the crypto market. So what about real polls? Trump is behind in these polls.
Shiba Inu’s market value and transaction volume are also among the factors supporting the price increase. For the SHIB price to reach $0.000081 by 2025, analyst Ramos states that the price must overcome three major resistance levels: $0.000033, $0.000046, and $0.000071. These targets are set in line with the Fibonacci retracement and expansion levels.
Recently, SHIB price broke out of the downtrend formed after the March 2024 mini-bull run. This breakout, which occurred in October 2024, marks the beginning of an upward trend. Additionally, price movements have formed a symmetrical triangle formation, indicating that the rally will continue.
The SHIB price forecast states that it makes it difficult for them to invalidate the current bullish thesis in the short term. The 33% increase in 24-hour trading volume shows that the bulls are in control.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
