Bitcoin’s (BTC) recent climb to a new all-time high has changed investor sentiment about the crypto market. Despite a recent correction, many analysts anticipate another market rally soon, fuelled by BTC’s halving event in April. Many consider halving events bullish as they reduce the supply of an asset. Shiba Inu (SHIB) is one such asset, predicted to hit a new all-time high following BTC’s halving.
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SHIB is currently down by 67.5% from its all-time high of $0.00008616, which it attained in October 2021. However, this could soon change. According to Changelly, SHIB could surge to $0.00008787 by Apr. 19, 2024. Reaching $0.00008787 from current levels would translate to a growth of over 213%.
CoinCodex also anticipates Shiba Inu (SHIB) to hit a new-time high soon. The platform predicts SHIB to hit $0.00008743 on Apr. 21, 2024. Reaching 0.00008743 from current levels would translate to a growth of about 212%.
How high can Shiba Inu (SHIB) go during this bull run?
According to CoinCodex, SHIB could surge to $0.00009438 by Apr. 22, 2024. Reaching $0.00009438 from current levels would translate to a growth of over 236%. There is a possibility that SHIB could continue to rally after hitting $0.00009, but it is too soon to tell.
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Changelly also anticipates SHIB to surpass the $0.00009 level in April, hitting $0.00009486 on Apr. 20, 2024. Reaching $0.00009486 from current levels would translate to a growth of about 238%.
Furthermore, the SHIB team may launch a new burn mechanism later this year, rumored to burn trillions of tokens yearly. If the team launches the new burn mechanism in 2024, we may see a massive spike in SHIB’s price.