Trader Who Accurately Predicted Dogecoin Explosion Says This Ethereum-Based Altcoin May Be Next

A popular crypto analyst who correctly predicted the recent rise of Dogecoin (DOGE) says another dog-themed meme coin may be next. The pseudonymous trader SmartContracter tells his 213,000 Twitter followers that the Ethereum-based altcoin Shiba Inu (SHIB) will likely witness an echo rally.

Timeline of Shiba-inu

The Shiba Inu community prepares for a massive upside rally as the Shib Inu team plans to introduce several features including the Shibarium update, Shiba Eternity Players Guide, and TREATs for Shib Army. As a result, the SHIB price soared nearly 10% in the last 24 hours and over 30% in a week.

Shiba Inu price prediction remains bullish above $0.0000116 as it has increased by more than 1.5% in the last 24 hours and more than 20% in the previous seven days to trade at $0.000012. 

The ongoing recovery in Shiba Inu price halts at the local resistance of the $0.000014 mark. In addition, the several higher price rejection candles at this supply zone indicate the exhausted bullish momentum and a higher possibility for price reversal.

Over the past several days, Dogecoin's demand has skyrocketed. The same pattern has also been observed in Shiba Inu. As of the time of writing, Dogecoin's price has risen 120% over the previous week, making it the top-performing coin among the top 15 cryptocurrencies this week.

Shiba Inu price is slightly bullish, having gained more than 2% and more than 25% to trade at $0.000012. However, it is unlikely to reach $1 anytime soon, but there are other coins that may provide a good profit opportunity.

Shiba Inu, earlier today, witnessed a significant surge as it went up by almost 20%, pushing its spot trading price to $0.000014. Although it was immediately rejected entry to the $0.000015 marker, the asset managed to outperform other cryptocurrencies belonging to the top 10 list in that particular department, including Bitcoin and Ethereum.

It's been a green October ending for the entire crypto market, and the meme coin section is no exception. Shiba Inu, the biggest Dogecoin rival, has fluctuated 26% gains after joining the recent market-wide correction.

Shiba Inu has jumped 14.6% to $0.00001231 at the time of writing. The meme coin is one of the top gainers among the top 20 largest cryptocurrencies by market cap. Over the past week, SHIB has gained by around 22%.

The Shiba Inu price skyrockets after the recent bullish breakout of the consolidation range between $0.0000104 and $0.00000955. Amid the strong recovery in memecoins, the SHIB prices witnessed a recovery rally reaching the bearish outpost of $0.0.000015.

Shiba Inu's bullish pennant breakout bagged in double-digit gains over the last day. After witnessing a golden cross on its EMAs, the meme token flashed overbought readings on its charts.