As Bitcoin's production rate decreases, its price should theoretically increase if demand for the asset remains the same or increases. The previous three BTC halvings have served as catalysts for future bull runs not only for the major cryptocurrency but also for the entire market. So, will this happen now and will it affect the two big meme coins? Perplexity answers.

Pioneering the meme coins, DOGE and SHIB quickly caught the attention of investors. However, we will focus on Dogecoin and Shiba Inu. The former is ranked 8th in terms of market cap, with its self-proclaimed killer trailing by four spots.

The popular chatbot believes that the halving, which is expected to take place on April 19, “could lead to a sustainable increase in the price of Bitcoin due to its high demand.” The asset has declined at a double-digit rate since the March ATH, but this may actually be good news.

When it comes to potential gains for SHIB and DOGE, the ChatGPT rival said:

“Since Shiba Inu (SHIB) and Dogecoin (DOGE) often move in tandem with Bitcoin, their prices could potentially increase during the Bitcoin halving event.”

In the case of Dogecoin, there are many predictions that the OG meme coin could rise as high as $1 during this cycle, which would represent a 5x increase from its current position.

Increasing cremation rate and growing number of transactions in Shibarium are among the bullish developments for the Shiba Inu ecosystem. Therefore, SHIB forecasts show a more modest 40% increase in the coming weeks and up to a 300% increase in the following months.

However, Perplexity cautioned that the crypto market is highly volatile and meme coins are known for even greater price fluctuations, so investors should be careful before trading with them.

In any case, the Bitcoin halving is one of the most important events for the crypto industry, so if you want to know more, you can check our video below.