Shiba Inu could see its price skyrocket to a new all-time high if it trails Bitcoin should the premier crypto asset hit the $1 million target.
Being the first and largest crypto asset, Bitcoin (BTC) often dictates the movement of the broader crypto market. The asset kickstarted the previous crypto bull markets when its price soared to new highs in each cycle. Notably, the rest of the market has followed suit each time.
Market watchers expect a similar case in this cycle, projecting the altcoin season, a period when other assets outperform Bitcoin, to come up shortly after BTC hits its peak for the current cycle. However, it is difficult to determine this peak, as opinions vary among market analysts.
