Shiba Inu ($SHIB) is on a remarkable upward trend, with significant gains in recent weeks: up 19.2% weekly, 239.1% in the last 14 days, and 247.5% in the past month. However, it faced a 6.7% dip in the last 24 hours. This surge is likely influenced by Bitcoin's surge to new highs, impacting other altcoins positively.
According to CoinCodex, SHIB could see another surge by the end of March, aiming to surpass $0.000113 by Apr. 7, 2024, marking a potential growth of about 251%. Changelly also expects SHIB to climb, predicting it to reach $0.000097 by the end of March, a 195.7% increase from current levels, and $0.000118 by Apr. 7, 2024.
The upcoming Bitcoin halving and SHIB's plan to burn 4.5 billion tokens could fuel its April rally. However, historically, token burns have had limited impact due to the vast supply. Yet, SHIB is reportedly developing a new burn mechanism that could annually burn trillions of tokens, though no official launch date is announced.
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