🚀🚀🚀Shiba Inu: News Prediction Claims SHIB is thought to increase by 220%
The #ShibaInu is currently trading at the level of $0.00002 and has been trading mostly horizontally this month in April. SHIB has rebounded sharply in March, rising almost 280% in just two weeks. The increase in price comes after Bitcoin reached an all-time high of $ 73,737 in mid-March and the value of #SHIB soared.
However, the dog-themed token is currently experiencing a setback, but the upcoming Bitcoin halving event may be its savior. The Bitcoin halving event is scheduled to take place on April 21, 2024, and there may be an increase in the price of leading cryptocurrencies, including Shiba Inu.
For the inexperienced, Bitcoin halving will halve the supply of BTC, making the cryptocurrency almost non-existent on the market. Since there is a huge demand for Bitcoin, 'less supply' will help its price to increase sustainably in the indices. Since Shiba Inu is moving along with Bitcoin, there is a higher chance of recovery this month.
Shiba Inu: New Forecast Claims that the SHIB Will Increase by 220%
Given that the Bitcoin halving event is now only a few weeks away, leading on-chain metrics and COINCODEX's price forecasts have reassessed SHIB's forecasts. The new price forecast indicates that Shiba Inu could increase by about 225% in the first week of May 2024.
The increase in price may come days after the Bitcoin halving event, which indicates that SHIB can copy the positive movements of BTC. The price forecast claims that Shiba Inu could reach a high of $ 0.000085 in the first week of May next month. However, its price will move slightly away from the all-time high of $ 0.00008616, which it reached in October 2021.
Therefore, a $10,000 investment in Shiba Inu today could turn into $32,000 if the forecast is correct. However, there is no guarantee that the SHIB will be able to increase to 225% in the next 30 days. The cryptocurrency market is volatile and cuts both ways, hurting investors.
