Leading cryptocurrency Shiba Inu is currently trading at the $0.00002754 mark and is down nearly 1% in the day’s trade. The cryptocurrency had rallied close to 280% in March delivering stellar profits that took an entry position early this year. SHIB had outperformed Bitcoin, Ethereum, and Dogecoin in its rally by printing triple-digit profits to investors in a month. Now that the most-anticipated Bitcoin halving event is coming closer, Shiba Inu is expected to spike further in price next.
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In this article, we will highlight how high Shiba Inu could trade in the charts during the Bitcoin halving event. The event is scheduled to take place on April 21, 2024, and is the most exciting development to occur in the cryptocurrency market this year. For the uninitiated, the Bitcoin halving event cuts the supply of BTC in half making the cryptocurrency scarcely available in the market.
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Since Bitcoin has a lot of demand and less supply, BTC’s price is expected to scale up in the charts. On the other hand, Shiba Inu moves in tandem with BTC, therefore, its price is also expected to rise.
Shiba Inu: Bitcoin Halving Price Prediction For SHIB
Leading on-chain metrics and price prediction firm CoinCodex has painted a positive and rosy picture for SHIB. The price prediction forecasts that SHIB could rise by another 225% from its current price and breach its previous all-time high of $0.00008618, which it reached in October 2021.
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According to the price prediction, SHIB could hit a new all-time high of $0.000094 in the days leading up to the Bitcoin halving. That’s a spike of close to 235% from its current price of $0.000027. Therefore, an investment of $10,000 made today could turn into $33,500 if the price prediction turns out to be accurate.
