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. Meanwhile, SHIB changes hands at $0.00001694. If Shiba Inu follows a similar price trajectory as Solana and witnesses a comparable 2,202% increase, SHIB value will spike to $0.0003901, marking a new all-time high.

While this might appear extremely bullish to some market veterans, most Shiba Inu proponents expect greater heights. Interestingly, this month, Forbes cited CIFDAQ Blockchain Ecosystem chairman Himanshu Maradiya in a report. Himanshu predicted SHIB could trade between $0.0001 and $0.0003 as early as next year.