The cryptocurrency world is abuzz with the unending rivalry between Shiba Inu (SHIB) and Dogecoin (DOGE). This competition has not only captured the attention of crypto enthusiasts but has also become a hot topic of discussion across various platforms. Recently, a fascinating development has come to light: Investment firm Sistine Research has released an intriguing analysis of Shiba Inu’s chart, suggesting that SHIB could potentially surpass DOGE in performance by 2025. The analysis sheds light on the possible trajectory of Shiba Inu’s value against Dogecoin, especially focusing on resistance and support levels that might trigger a notable price surge.
SHIB Targets Key Resistance Levels To Outpace Dogecoin
In a detailed analysis shared on social media platform X (formerly known as Twitter), Sistine Research unveiled a comprehensive chart of the SHIB/DOGE trading pair. Described as “a very interesting chart,” it illustrates Shiba Inu’s bounce from a lower support zone against DOGE. The chart indicates an upward trajectory towards key resistance levels, hinting at the possibility of Shiba Inu gaining significant value and potentially outpacing Dogecoin by the year 2025.
The chart analysis by Sistine Research provides a clear view of how established resistance and support levels have played a crucial role in influencing Shiba Inu’s trajectory against Dogecoin. Since mid-2021, Shiba Inu has consistently hovered around a stable support zone, with the price fluctuating between 0.00008 and 0.000105 DOGE. However, the resistance levels, ranging from 0.00019 to 0.00023 DOGE, have often acted as formidable barriers, curbing Shiba Inu’s upward price movements.
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A particularly noteworthy event occurred in November 2022, when Shiba Inu experienced a sharp decline from 0.000202 DOGE to 0.0000841 DOGE. Despite this setback, the meme coin managed to maintain its position at critical support levels, eventually recovering to 0.00013 DOGE by February 2023. Throughout 2023, Shiba Inu has consistently tested this support level. Nevertheless, attempts to breach the upper resistance levels around 0.00019 and 0.00023 DOGE faced selling pressure, leading to a significant price drop for SHIB.
Shiba Inu Prepares For A Breakout
Sistine Research’s analysis of the SHIB/DOGE pair suggests that the observed trading patterns could potentially repeat for Shiba Inu. The current support level may serve as a foundation for a breakout and subsequent recovery. If Shiba Inu continues to trade within this lower support range, Sistine believes this could act as a launchpad for SHIB, propelling it towards the resistance area near 0.00019 DOGE.
Such a move would represent an impressive 95% increase from the current levels, slightly less than the 110% rally observed in the previous cycle when Shiba Inu moved from the support zone to the resistance level. Moreover, should Shiba Inu maintain its bullish momentum, Sistine anticipates that it may outperform Dogecoin by 2025.
As of the time of writing, Shiba Inu is trading at $0.000019, reflecting a 7.16% increase over the past week, according to CoinMarketCap.
