What made Shiba Inu (SHIB) rise 884,000% after Bitcoin halving

January 31, 2021 was a turning point for Shiba Inu. The trading volume of the token surged significantly, reaching $5.7 million at a price of $0.00000001. According to this. SHIB maintains a trading volume of thousands or even millions of dollars.

Bintang Shiba Inu 2021

In April 2021, when Bitcoin first hit $64,000, SHIB hit a record price of $0.00000417. Interestingly, Shiba Inu outperformed Bitcoin in terms of profit percentage.

Bitcoin hit an all-time high of $68,789 in November 2021, while SHIB reached an all-time high of $0.00008845 in October 2021. Notably, Shiba Inu surged 884,400% from January to October 2021.

Bitcoin Halving and Its Potential Impact on SHIB

The upcoming Bitcoin halving, which is expected to occur this week, has sparked hopes for a similar recovery in Shiba Inu’s price. Enthusiasts cite historical precedents, specifically the bullish trend that follows Bitcoin’s halving event. For example, after the May 2020 halving, Bitcoin’s price began a sustained rise that peaked at $64,863 in April 2021.

If history repeats itself and Bitcoin experiences a similar 721% rally after the halving, Bitcoin’s price could rise from its current $63,237.93 to over $500,000. A member of the Shiba Inu team revealed that Shiba Inu is heading for a supercycle. If Meme Coin repeats its astonishing 884,400% gain from its current price of $0.00002261, it could reach $0.199.