Expert Says Shiba Inu 89,030% Surge Could Repeat Sooner Than Expected
Pseudonymous pundit Master Kenobi has lauded Shiba Inus perfectly crafted technology, stating that the chances of finding such caliber projects are one in a few hundred times.In a November 3 post, Kenobi insisted that Shiba Inu has been dynamic and continues to outperform his expectations in its four years of existence. He stressed how hard it is to come by a project with similar exceptional innovation.Furthermore, Kenobi lauded Shiba Inus pseudonymous founders, who launched the meme coin with a meticulously planned and engineered purpose that is rare among todays projects. He noted that the precision of creation and capital deployment shows that the creators fully understood blockchain technology and how to use it to effectively create financial freedom.Analyst Says Shiba Inu Surge Will Happen SoonWhile applauding Shiba Inus rare technology, Kenobi asserted that he sees a repeat of the famous January 2021 rally. For context, SHIB resumed an explosive rally that month, with the bullish momentum driving the meme coin to extraordinary highs.Shiba Inu surged 89,030% in 280 days from January 25, 2021, peaking at its current all-time of $0.0000845 nine months later. The explosive run pushed SHIB into the top 10 ranking by market cap, with the token accruing a $38 billion valuation.Kenobi expects a similar surge in the Shiba Inu price, projecting it might even happen sooner. While he does not present a particular price target, he remains bullish on an uptrend. However, in the unlikely event that the 89,030% rally fully repeats, this will push the second-largest meme coin to $0.0149 and its market cap to $8.8 trillion.Furthermore, the market expert asserted that Shiba Inu surpassing the $100 billion market cap by the end of this bull cycle is a possibility. He added that the meme coin will reenter the top 10 crypto market cap ranking, projecting at least a two-step move from 12th place in the current market.Notably, a prediction of a possible SHIB surge to above $0.01 is not new. Shiba Inus marketing lead, Lucie, asserted that the leading meme coin will eventually reach the price mark sometime in the future.Analyst Asserts Shiba Inu Will Rival DogecoinMeanwhile, Kenobi has predicted a hotly contested top slot in the meme coin sector this bull cycle. The analyst believes that Shiba Inu is a real competitor for Dogecoin and expects a keenly-competed battle.However, the pseudonymous expert insisted that the chances of Shiba Inu outperforming Dogecoin in this bull cycle remain even. He asserted that Shiba Inu has an equal chance of outdoing Dogecoin.In the meantime, Dogecoins 38% upsurge in the past 30 days has seen it occupy the 8th slot, with a market cap of $22 billion, more than double Shiba Inus current valuation. SHIB has corrected 6.65% in the same timeframe, capped at $9.8 billion.
Text source: The Crypto Basic
