The prices of Shiba Inu and PEPE, although there has been movement in both of these assets, have not performed as well as expected. This could be attributed to the muted performance that Ethereum, the parent network of both assets, have put on recently, and thus, they have followed in its footsteps. However, as Ethereum begins to see better upside, things could change for both of these assets according to one analyst.
Watch Out For Shiba Inu As Ethereum Begins To Break Out
Ethereum has started moving up again and is currently trading above $2,400 at the time of this writing. Naturally, crypto investors expect its ecosystem tokens to follow the same path, and one of those is Shiba Inu, as pseudonymous crypto analyst Crypto Kaleo explains.
Taking to X (formerly Twitter), the analyst shares their expectations for the Shiba Inu price going forward. Crypto Kaleo warns investors to keep an eye out for the Shiba Inu price especially as Ethereum begins another uptrend.
The crypto analyst expects good movement in price, possibly something that could rival its 2021 movement. Kaleo points out that the SHIB price is currently still trading in a base range of $0.00001, and this is a level that the price has maintained for almost one week now.
Given that the crypto’s price has stayed in this range for so long, Kaleo expects a good thing if the price is able to break out of this range. “Wouldn’t be surprised if we see another god candle
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Author: Scott Matherson
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