Bitcoin (BTC) hit a new all-time high of $97,836.61 earlier today. BTC’s rally is expected to trickle down into other assets. While BTC is at never-before-seen levels, Shiba Inu (SHIB) continues its struggle to overcome the $0.00003 resistance level.
Also Read: Ripple XRP Vs. Cardano: Which Will Hit An All-Time High First?
SHIB Recent Price Fluctuations
Source: CoinGecko
SHIB has experienced a commendable growth over the last few weeks. Despite the rally, the dog-themed crypto has faced a 1.4% correction in the daily charts and a 7.4% correction over the previous week. The asset has maintained some gains in the other time frames. SHIB’s price is up 30.6% in the 14-day charts, 30.8% in the monthly charts, and 188% since November 2023.
Let’s find out if Shiba Inu (SHIB) can delete a zero and hit $0.0001 if Bitcoin (BTC) reaches $125,000.
Can SHIB Hit $0.0001 When Bitcoin Reaches $125,000?
If SHIB hits $0.0001, it will be the project’s new all-time high. Reaching $0.0001 from current price levels will require a rally of around 314%.
Also Read: Bitcoin (BTC) Poised To Reach $100,000 Before The Weekend?
According to CoinCodex analysts, BTC may breach the $125,000 mark on Feb. 3, 2025, about two months from now. Standard Chartered had also predicted BTC to hit $125,000 after a Donald Trump victory in the US Presidential Election.
Source: CoinCodex
On the other hand, the platform anticipates Shiba Inu (SHIB) to trade at $0.00002238 on Feb. 3, 2025. Reaching $0.00002238 from current price levels will translate to a dip of about 7.33% from current levels.
Source: CoinCodex
Also Read: AI Predicts When Dogecoin Will Reach $1
There is a possibility that SHIB will not face a correction over the next few months. We may witness another market-wide rally if Bitcoin (BTC) continues its upward momentum. SHIB could follow BTC’s trajectory and continue to rise. The asset has climbed to the 12th spot among the top projects by market cap. The dog-themed crypto could enter the top 10 projects if it continues its rally.
