Shiba Inu Price Prediction: Will $SHIB Repeat the Price Rise of 2021?

Shiba Inu (SHIB) has regained bullish momentum with over 3% in a week, showing signs of another bullish trend in the meme coin sector. Analysts have begun comparing it to the 2021 performance of Shiba Inu marking the start of the altcoin season. Cryptocurrency analyst Paul Schmitt has highlighted the similarities between the current conditions and the early stages of the bullish market in 2021. With meme sentiment back and social media driving the hype, the price of the top meme coin could once again shape the cryptocurrency cycle. Cryptocurrency analyst Paul Schmitt recently shared a report via X, comparing the current cryptocurrency market conditions with those of April 2021. He noted that investor fatigue and market consolidation were the main themes at that time, just as they are now. The unexpected breakout of SHIB in 2021 changed the entire market landscape in just a few weeks.

In April 2021, the price of SHIB skyrocketed from $0.000000060 to $0.00000362 in just 19 days. This parabolic volatility broke the stagnant market and sparked new interest in riskier assets. According to Schmitt, that breakthrough has driven the altcoin season as retail investors return to the space. Now he sees similar signs forming. Bitcoin is still within range and traders are beginning to shift their attention to meme coins once again. However, this level of activity has attracted interest, even though SHIB has not been very active recently. Schmitt stated that such initial energy could resemble the movement of SHIB in early 2021 and may signal the return of the meme phase. SHIB Price Action And Bullish Sentiment Notably, at the time the press reported, the price of Shiba Inu was trading at $0.00001230, down 1% in 24 hours but up 2% over seven days. Despite a modest increase, the price of SHIB still outperforms other meme tokens, showing strength around $0.000012. The monthly increase is quite modest at 0.9%, but this slow accumulation is understood as a healthy consolidation. Moreover, social media is also playing an increasingly significant role in shaping sentiment. A viral meme posted by Crypto Shib depicts the price of SHIB skyrocketing to $0.01 following an impressive parabolic curve. Although not rooted in technical analysis, this meme has resonated with retail traders. His claim that Shiba Inu will make you a millionaire reflects the excitement of the SHIB movement in 2021. Although these are exaggerated stories, they lead to price fluctuations based on the sentiment of meme coins. As they spread, their psychological appeal also increases, especially for relatively new retail investors looking for high-risk opportunities. The price of SHIB has capitalized on this new interest, and with the volume, it could rise much stronger. Market Conditions Remain Relatively Quiet Bitcoin's price has been consolidated in the range of $84,000 to $88,000 with minimal volatility. Ethereum and other large-cap coins, in particular, have struggled to maintain the bullish momentum they had started in recent weeks. However, SHIB has appeared strong as it has been observed to perform much better among meme coins over the past week. Interestingly, this development is similar to early 2021, when large-cap coins were relatively quiet while meme coins began to attract the attention of retail investors. The combination of technical consolidation in major assets and growing enthusiasm for SHIB has supported Schmitt's observation of repeating historical patterns. If the price of the leading meme coin continues to rise while the broader market is asleep, it could once again play a leading role in triggering a breakout. Not only is the Shiba Inu cheap, but it also demonstrates sentiment and a consistent time structure, making its current price movements similar to what is worth keeping an eye on. According to analysts, retail-led price rallies started discreetly, before institutional investors joined Shiba Inu prices that seemed to be in that quiet phase again and did not show too much volatility. Shiba Inu Price in 2021 Bullish and Its Impact on the Market The bullish trend of SHIB in 2021 remains one of the most memorable crypto rallies. The price of Shiba Inu increased from $0.000000060 to $0.00008845 within seven months, which is a significant increase. This token not only led discussions in the cryptocurrency category but also contributed to the encouragement of using other cryptocurrencies. Moreover, the SHIB ecosystem has developed with the emergence of Shibarium, a burning and staking mechanism. Although the model may not be an exact reflection, the current fundamentals indicate that another significant move could happen.