Experts believe that Shiba Inu could potentially experience a huge price enhance due to the positive overall sentiment towards cryptocurrency.

Donald Trump’s victory in the recently concluded US elections brings waves of optimism to the cryptocurrency market, where SHIB Inu may push it to enhance prices by 306%.

Shiba Inu: explosive growth

A market analyst has predicted that the Shiba Inu price could rise by at least 306% as the entire cryptocurrency market excited by the US election results booms.

In the post, analyst Javon Marks stated that the price of meme coin has the potential to reach $0.00081, adding that this price enhance is inevitable for meme coin and is predicted to happen soon.

Still quite fresh from the confirmed Hidden Bull Divergence and holding breakout, $SHIB (Shiba Inu), in the midst of the roaring Bitcoin market, may be gearing up to achieve another level of performance towards the target value of $0.00081!

The distance from this goal is currently over 306%, which encourages… https://t.co/0ySjEfPQgF pic.twitter.com/DwklAFs8zj

— JAVON⚡️MARKS (@JavonTM1) November 8, 2024

“Still quite fresh from the confirmed Hidden Bull divergence and holding breakout, $SHIB (Shiba Inu), amid a roaring Bitcoin market, could be gearing up for another level of performance towards the $0.00081 target,” Marks said.

The data showed that the meme coin formed a Hidden Bullish Divergence pattern. The reports explain that the hidden bull divergence is a bullish indicator that usually appears before a price enhance occurs.

Moreover, analysts said that the cryptocurrency has already passed the consolidation phase, which could strengthen the bullish outlook for the meme coin.

Shiba Inu-Bitcoin relationship

Analysts have pointed out that there is a link between the price movement of Shiba Inu and Bitcoin, saying that any price movement in the case of Bitcoin could also mean a change in the prices of the meme coin.

This is a correlation being monitored by many analysts as Bitcoin prices skyrocket amid newfound optimism across the cryptocurrency market.

In previous reports, analysts have discussed that Shiba Inu usually follows the price movement of Bitcoin, which shows that there is a robust correlation between both cryptocurrencies.

They noticed that every time Bitcoin fell, the price of the meme coin also fell. Therefore, any massive enhance in Bitcoin could push the Shiba Inu to grow exponentially.

Many market watchers predict that Bitcoin is on track for a massive price surge, and over the past few days, the original cryptocurrency has hit its highest-ever price per coin. Therefore, the predicted price movement of BTC may also push Shiba Inu towards the predicted price.

We are not even close to my predicted MC crypto total. Will it get there? Seems possible and likely, imo.

10 thousand dollars + $SHIB .0002 probable$BONE $50-100$LEASH 15-20 thousand dollars $ETH 17 thousand dollars+$BTC The best case scenario is 250,000. dollars$CRO $2.70$DOGE $2.70-$5

There may be many “projects”…

— HorBull™ (@HorBull) November 6, 2024

It saw a market capitalization of $118 billion

Meanwhile, analysts suggested that the Shiba Inu’s market capitalization will skyrocket and its price will enhance by 950% when the global cryptocurrency’s market valuation reaches $10 trillion.

Market commentators have stated that if the market cap reaches $10 trillion, the price of the meme coin will be $0.0002, bringing its market cap to $118 billion.

At the time of writing, the total market capitalization of the global crypto sector is pegged at $2.61 trillion, while Shiba Inu’s current market capitalization is approximately $11.21 billion.

Featured image from Chewy, chart from TradingView