Shiba Inu: How High Will SHIB Surge After Bitcoin Halving? (2024)
The weekend has been a rollercoaster ride for the cryptocurrency market. Shiba Inu [SHIB] has certainly been on the receiving end of this volatile situation. However, at press time, the asset recorded a 1.19% recovery bringing its price back to $0.00002236. Amidst this, the meme coin also retained its spot in the 12th position with a market cap of $13.1 billion. This further highlights the asset’s resilience during market oscillations. The community eagerly anticipates the Bitcoin halving event, investors are fixated on SHIB and its potential surge in value.
Bitcoin Halving
The world’s largest cryptocurrency, Bitcoin is set to undergo halving in about a week. According to our Bitcoin Halving Countdown, the halving event is projected to occur around April 20. This event will further bring down the rewards for miners from 6.25 BTC to 3.125 BTC per block.
Halving is one of the most anticipated events in the crypto-verse. While it is expected to augment the price of Bitcoin, altcoins are also in for an uptick. Shiba Inu has time and again encountered prominent upticks. The community has been laying hopes on the halving event to trigger SHIB’s price movement.
According to Changelly, Shiba Inu is expected to record major changes in terms of price during April. Taking into consideration price fluctuations in the previous year and Bitcoin’s halving, analysts predict that SHIB will trade at an average price of $0.0000345 in April 2024. The asset is expected to rise to a maximum price of $0.0000445 following the halving.
As Bitcoin inches closer to the upcoming halving event, the entire market can be seen prepping for potential changes. Historically, Bitcoin halving events have paved the way to significant price movements across the market. This further creates volatility as well as opportunities for altcoins to shine.
These experts' general stance on Shiba Inu price predictions is bullish. Notably, SHIB recorded a price gain of over 13% after the halving. Therefore, the bullish predictions could likely unfold soon if market conditions are favorable.
A more realistic prediction for Shiba Inu's price by 2024-2025 is from $0.0001 to $0.0003, assuming favorable market conditions and continued development within its ecosystem.
No.To reach a price of $1 would require a $589 trillion market cap for Shiba Inu. By comparison, Bitcoin's current market capitalization is just $1.3 trillion.
At its peak, SHIB had a price of $0.00008845, with a market capitalization of around $43 billion, which was achieved in October 2021. For the price to reach new all-time highs (ATHs), it would have to appreciate over 500%.
To achieve this milestone, SHIB would need to experience a 416-fold increase from its ATH of $0.00008845 in October 2021. Predictions from Techopedia suggest that by 2030, the highest price for SHIB could reach $0.000320, making the $0.01 mark seem unrealistic because of the resulting $5 trillion market capitalization.
To become a millionaire through Shiba Inu, one needs to own a substantial amount of the token. Based on current market prices, for instance, if Shiba Inu reaches a price of $0.00003, having 33 billion SHIB tokens would make someone a millionaire. At present prices, this amount of SHIB would cost approximately $515,000.
A Shiba Inu (SHIB) proponent who goes by “SHIB Bezos” recently took to Twitter and claimed the project could potentially burn 111 trillion tokens annually. The known SHIB influencer Queenie had also said the project could burn trillions of SHIB annually. Albeit, Queenie had revealed a hypothetical estimation.
With all this in mind, our Shiba Inu price prediction is all-together positive, and we predict SHIB will reach a high of $0.000048, a possible low of $0.000010 and an average price of $0.000032.
Alongside Bitcoin, four altcoins - Pepe Unchained, Crypto All-Stars, Base Dawgz, and Solana - are showing potential for significant growth in 2024, driven by their unique features and strong communities. After a trying journey, Bitcoin is preparing for another surge.
Cryptos that could boom in 2024 include Render Token (a rendering network) and Solana. Bitcoin and Ethereum could also be poised for strong performances in 2024, thanks to the SEC's approval of Bitcoin ETFs and Ethereum ETFs.
What will the impact be on the bitcoin price? Halving reduces the supply of new bitcoins, which should in theory increase the price. It is an economic axiom that if demand for an asset remains stable while its supply decreases, its price should go up.
Daily Shiba Inu (SHIB) Price Prediction For Today, Tomorrow, this Week, and Next 30 Days. Based on your price prediction input for Shiba Inu, the value of SHIB is projected to increase by 5%, potentially reaching $ 0.000014 by the end of this week.
Shiba Inu price is +68.22% over the last year. The highest price of SHIB in the last year was $0.000036 and the lowest price of Shiba Inu in the last year was $0.0000068.
In this scenario, If the crypto market cap hits $3 Trillion, Bonk Coin could trade around $0.0000171 in the short term and struggle to surpass $0.0000570 by 2030 even if the total crypto market cap surpasses the $10 Trillion mark. It is crucial to consider the potential risks and challenges that Bonk Coin may face.
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