$BTC 🔥💥Shiba Inu (SHIB) Price Prediction After Bitcoin Halving
The price of Bitcoin reached a new high of $ 73,737 in the middle of this month. The extraordinary rise also led to Shiba Inu reaching a new one-year high of $0.00004282 during the same period. The sudden increase in the price of Shiba Inu came immediately after the Bitcoin halving event.
For those who don't know, the Bitcoin halving event is scheduled to take place next month on April 20, 2024. The event will result in the #BTC supply being halved and the cryptocurrency being almost non-existent. This development will cause the price of Bitcoin to rise further due to the high demand due to the limited supply. This move will allow not only Bitcoin, but also Shiba Inu and other leading cryptocurrencies to rise in the indices in a sustainable way.
CoinCodex, a leading on-chain metrics and price forecasting firm, painted a rosy picture for Shiba Inu. According to the price forecast, #SHIB may increase by another 225% after the Bitcoin halving. The forecast emphasizes that Shiba Inu may exceed the all-time high of $ 0.00008616 and reach a new ATH at the level of $ 0.00009.
This represents an increase of about 226% and a return on investment (ROI) compared to the current price of $ 0.00002783. Therefore, if the prediction turns out to be correct, a $10,000 investment in SHIB could turn into $32,600 during the Bitcoin halving next month. If the token continues its momentum, it can also erase its fourth zero and reach the level of $ 0.0001.
However, the cryptocurrency market is quite volatile and there is no guarantee that the SHIB can rise to 225% within 30 days. At the moment, it is advisable to do a thorough research before taking an entry position in the cryptocurrency market. Since the Bitcoin halving event can make the markets unstable, trade at your own risk.
