The post Here’s Shiba Inu Price if Solana Hits $3,211 as Predicted by VanEck appeared on BitcoinEthereumNews.com.

Shiba Inu can spike 2,202% to hit unprecedented levels if it follows the trajectory of Solana should SOL clinch $3,211 as predicted by VanEck. Most tokens in the cryptoc market move side-by-side, primarily led by Bitcoin (BTC), the leading asset. However, there are moments when some altcoin engineers rallied during a Bitcoin downturn. This phenomenon occurred with Solana late last year and XRP last July. Shiba Inu and Solana Price Correlation Such occurrences often have some spillover effects on other altcoins, which typically enjoy similar rallies. This is largely due to the sustained correlation shared by these altcoins. For instance, the canine-themed meme coin Shiba Inu shares an observable correlation with Solana.  Market data sourced by CoinMarketCap shows that over the past month, Solana and Shiba Inu have moved alongside each other. Notably, from June 12 to 24, both assets recorded a sustained downtrend. However, they staged a recovery, which culminated in respective local tops on June 28. Shiba Inu and Solana Performance | CoinMarketCap Both assets continued to record drops and upswings a few days into July but eventually collapsed to multi-month lows on July 5. Despite a recovery, they are both facing losses over the past month. This price correlation can be advantageous for either of the assets when one witnesses a massive price increase. Shiba Inu Price if Solana Hits $3,211 Interestingly, projections from seasoned analysts suggest that Solana could be on the verge of a massive uptrend. For instance, last October, asset manager VanEck released a report on Solana. The report predicted a bear price target of $10, a base target of $335, and a bull target of $3,211 for Solana by 2030. Notably, Solana currently trades for $139.48. From this level, an increase to $3,211 by 2030 would require a 2,202% rally in six years.…

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Filed under: News - @ July 14, 2024 10:26 am