Shiba Inu’s (SHIB) price has faced a significant correction today. The asset is down 6.4% in the daily charts and 8% in the weekly. However, SHIB is still up by 9.2% in the 14-day charts, 27.6% in the monthly charts, and 140.5% since April 2024.
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Moreover, despite the recent correction and strong resistance, there is a possibility that SHIB will break out in the coming days. Bitcoin (BTC) will undergo its next halving cycle, which could trigger a rally in the crypto markets. SHIB could also benefit from the BTC halving event, with some analysts predicting big moves for the dog-themed crypto.
AI predicts Shiba Inu’s (SHIB) price for April 5, 2024
According to CoinCodex, SHIB could hit $0.00003159 on April 5, 2024. Reaching $0.00003159 from current levels would translate to a growth of about 16.4%.
Furthermore, CoinCodex anticipates SHIB’s price to continue rallying throughout April. The platform anticipates SHIB to hit a new all-time high later this month, reaching $0.00009452 on April 30, 2024.
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Changelly also paints a bullish picture for Shiba Inu (SHIB). The platform anticipates SHIB to hit $0.00003976 on April 5, 2024. Reaching $0.00003976 from current levels would translate to a growth of about 46.5%. Furthermore, Changelly anticipates SHIB to hit a new all-time high this month, hitting $0.000100 on April 30, 2024. Reaching $0.000100 from current levels would translate to a growth of about 268.4%.
SHIB’s bullish outlook could be due to BTC’s upcoming halving event, which many analysts anticipate will trigger a market-wide rally. Many consider halving events bullish as they reduce the supply of an asset. Moreover, since BTC is the market leader, there is a high chance that a BTC rally will trickle into other assets.