Can Shiba Inu (SHIB) replicate Dogecoin’s (DOGE) 2021 bull rally?
Dogecoin’s (DOGE) ascent to become the top meme cryptocurrency was inspired by the token’s meteoric rise during the 2021 bull market, and now there are chances that Shiba Inu (SHIB) might follow suit. A comparison between SHIB’s current cycle and DOGE’s historical price action suggests that the former might be primed for a major breakout. The possibility of SHIB replicating the top meme coin lies in the fact that Shiba Inu recently broke above its 50-week moving average (MA50) after several months of consolidation, as crypto trading expert Trading Shot observed in a post on TradingView on September 26. SHIB vs. DOGE price analysis chart. Source: TradingView/TradingShot The token is flirting with the upper boundary of a seven-month downward channel, a critical resistance point, while finding support from its long-term 200-week moving average. Picks for you ...