BTC new high and market impact
Bitcoin (BTC) wrote a new chapter in history early this morning, with its price climbing to a high of $98,988. This strong rebound is expected to gradually spread to other crypto asset fields, and is expected to drive the activity and value revaluation of the entire market. Although BTC has entered an unprecedented price range, its trend is still the core indicator of the crypto market. Many investors and practitioners are paying close attention to its subsequent development trends, hoping that it can inject more vitality and opportunities into the entire industry.
SHIB’s current status and recent trends
On the other hand, Shiba Inu (SHIB), which has experienced an impressive growth in the past few weeks, has encountered difficulties in front of the resistance level of $0.00003, and its continued breakthrough efforts have not yet achieved significant results. In the performance of the daily chart, SHIB showed a 1.4% correction trend, and the previous week had a 7.4% adjustment. However, in other time frames, it still managed to hold on to some of its gains. Since November 2023, SHIB has achieved a 30.6% price increase in the 14-day chart, and a 188% increase in the monthly chart, showing its strong growth potential in a specific period.
Prediction of the future relationship between BTC and SHIB
A question of concern has quietly emerged: If Bitcoin successfully reaches a high of $125,000 in the future, can Shiba Inu break through the existing pattern, successfully remove the zero in the price and move towards $0.0001? If SHIB can really reach $0.0001, it will be a new milestone in its development history, which means that from the current price level, a sharp rebound of about 314% is required. According to CoinCodex analysts, Bitcoin is likely to break through the $125,000 mark around February 3, 2025, about two months later. Standard Chartered Bank also holds a similar view, believing that Bitcoin is expected to reach this target price against the backdrop of Donald Trump's victory in the US presidential election.
However, CoinCodex's expectations for Shiba Inu are relatively conservative, predicting that it will only trade at $0.00002238 on February 3, 2025, which even means a decline of about 7.33% compared to the current price level. However, market uncertainty always exists, and SHIB may also avoid the adjustment dilemma in the coming months. If Bitcoin can continue to maintain its current upward momentum, a broader market rebound may come as expected, and SHIB is very likely to follow BTC's pace and continue to climb upward. In terms of current market value ranking, SHIB has successfully ranked 12th among the top projects. If its upward trend continues, it is not a far-fetched dream to break into the top 10 projects, and it will shine more brightly on the stage of cryptocurrency.
The information provided in this article is for informational purposes only and does not constitute advice of any kind.
