Shiba Inu (SHIB<\/a>) price can rise by nearly 150% versus its top meme-coin rival, Dogecoin (DOGE<\/a>), in the coming months, based on a technical fractal.<\/p>\n The bullish setup appears as the SHIB\/DOGE pair rebounded slightly after dropping to 0.0000841 \u2014 its lowest level ever \u2014 on Nov. 1. The price level coincided with a descending trendline that has served as strong support for the pair since November 2021.<\/p>\n For instance, Shiba Inu\u2019s previous drop to the said trendline occurred in May 2022, which preceded a 100% recovery rally<\/a> in the next three months. Similarly, in January 2022, the SHIB\/DOGE pair rebounded by more than 50% in less than a month.<\/p>\n Interestingly, all the SHIB\/DOGE\u2019s rebound moves reached the 0.0002186-0.0002536 range as their primary upside targets. This area coincides with the pair\u2019s 0.786-1 Fib line range, derived from the Fibonacci retracement graph drawn from the 0.0002536 swing high to the 0.0000899 swing low, as shown in the chart below.<\/p>\n Therefore, SHIB could once again see a sharp bullish reversal versus DOGE if history repeats, with the upside target in the 0.0002186-0.0002536 range. In other words, at least a 150% price rally by Q1 2023.<\/p>\n In addition, the pair\u2019s daily relative strength index (RSI)<\/a>\u00a0signals extreme oversold conditions after dropping to its lowest levels in history, suggesting that a rebound is likely in the near future.\u00a0<\/p>\n More cues about an imminent SHIB\/DOGE pair rally come from these memecoins\u2019 individual performances versus the United States dollar.<\/p>\n Notably, Dogecoin price rallied by more than 100% versus the dollar in October as traders assessed its potential to become an integral part of Twitter after Elon Musk\u2019s takeover of the social media giant<\/a>.<\/p>\n This pushed DOGE\u2019s daily RSI over 95 in late October, the most overbought since April 2021. The coin remains technically overbought as of Nov. 3, hinting at a potential price correction in the coming days. <\/p>\n In other words, Dogecoin could drop toward $0.055<\/a>, or 60% from current price levels, by the end of 2022, as previously reported.<\/p>\n On the other hand, Shiba Inu closed October with a 10.5% profit, and as of Nov. 3, its RSI is in the neutral 30-70 zone, suggesting lower sell-side pressure compared to DOGE.<\/p>\n Related:\u00a062% of Dogecoin hodlers in profit amid hopes of Twitter integration<\/a><\/em><\/strong><\/p>\n Nevertheless, the SHIB\/USDT pair still risks a 10%-15% short-term price correction to $0.00001088 based on its recent fluctuations inside an ascending triangle range, as shown below.<\/p>\n Meanwhile, a break below $0.00001088 risks triggering an ascending triangle breakdown. Such breakdowns during a downtrend typically send the price lower by as much as the pattern\u2019s maximum height.\u00a0<\/p>\nSHIB hits record low against DOGE<\/h2>\n
SHIB price risks more losses in USD pair<\/h2>\n
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