New Delhi: Shiba Inu emerges as one of the top traded tokens by volume and now has become the 20th-biggest coin by market value. Self-claimed DOGE killer, Shiba Inu made a massive comeback with a 50% gain on October 4 overnight.

SHIB has a market capitalization of $9.3 billion against Dogecoin’s $35 billion. Experts are comparing Shiba Inu’s current rally with the Doge’s rise in April 2018. Doge has plunged by 75% after touching its All-Time High of $0.63 since the end of ‘To The Moon’ rally.

As per analysts, SHIB has jumped around 187% since October 1 and it is still under the 50% Fibonacci retracement price level at $0.0000203. SHIB is finally giving back to its holders as it nearly tripled its value over the last week.

Baby Doge - Shiba INu

Baby Doge - Shiba INu

This massive upward swing can be difficult to believe but still, Shiba Inu can embark on another 100% upward swing since it broke the resistance level at $0.00001820.

If this upward trend continues then SHIB will enter an ultimate bullish phase. In this Phase, DOGE killer SHIB just needs to push the $0.00002360 price level to spark the rally ‘To The Moon’. The start of such an upward run will take SHIB to $0.0000347 or you can say 100% upswing.

Looking at this upwards trend buying pressure can take SHIB to attempt to retest the high of $0.00003800. As per the experts, this upward trend can overextend to create a new All-Time high of $0.0000500.

On the other hand, Dogecoin has gained almost 13% in the last 24 hours. Crypto enthusiasts say that DOGE and SHIB’s upward trend has been possible because of the Elon Musks one tweet.

Tesla chief Elon tweeted a picture of Floki puppy with the caption ‘Floki Frunkpuppy’. Self-proclaimed ‘Dogefather’ has been said to be the reason behind pumping doge and other dog-themed cryptocurrencies.

Coinbase a cryptocurrency trading platform last month announced that its users can send, receive, trade and even store Shiba Inu on it.

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