Shiba Inu Price Predictions Linked to Bitcoin’s $100,000 Milestone

Shiba Inu (SHIB) has risen to $0.00001290, a 30% increase, coinciding with Bitcoin surpassing $90,000. Experts predict Bitcoin could reach $100,000, affecting SHIB prices positively. Shiba Inu benefits from token burns and the Shibarium network, supporting its growth. Technical analysis suggests potential targets of $0.00001576 and $0.00002217 if Bitcoin continues its rally.

The Shiba Inu (SHIB) price recently surged, reaching $0.00001290, marking a 30% increase from its lowest level this year. This rally coincides with a broader recovery in the stock and cryptocurrency markets, as Bitcoin (BTC) broke through the crucial resistance level of $90,000 for the first time since March 12. Other altcoins, including Fartcoin (FARTCOIN), Kaspa (KAS), and Bittensor (TAO), also experienced double-digit rises during this period.

Historically, altcoins tend to follow Bitcoin during significant price increases. For example, earlier this year, numerous altcoins rose sharply as Bitcoin approached its all-time high of $109,300. Current analysts express optimism regarding Bitcoin’s future, with Arthur Hayes forecasting a climb to $100,000, while Robert Kiyosaki projects a potential surge to $180,000 by year-end, and anonymous analyst CryptoElites suggests a target of $150,000.

Shiba Inu price may also be influenced by its unique position as a deflationary meme coin, thanks to routine token burns that significantly reduce the circulating supply. Additionally, the introduction of Shibarium, a layer-2 network, aims to transform SHIB into a utility token, with over 1 billion transactions already processed.

Technical analysis indicates that SHIB will likely continue to rise should Bitcoin reach $100,000. It has formed a large double-bottom pattern at $0.00001070, with a neckline set at $0.0000333, alongside a smaller double-bottom pattern with a neckline at $0.00001565. The Bollinger Bands Trend indicator is on an upward trajectory, signalling potential bullish momentum as it approaches a zero crossing.

The initial price target to note for SHIB is $0.00001576, representing a 21% increase from the current price. A further upward movement could bring the 50% Fibonacci Retracement level of $0.00002217 into reach, approximately 70% higher than its current position.