Shiba Inu (SHIB) seems to be turning the tide following the market-wide rally. The popular dog-themed cryptocurrency is up 6.6% in the last 24 hours, 19.3% in the weekly charts, and nearly 208% over the previous month. Moreover, SHIB’s price has risen almost 180% since late March 2023. However, SHIB is still down by 9.6% in the 14-day charts.
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SHIB’s latest rally could be due to Bitcoin (BTC) reclaiming the $71k level and inching closer to its all-time high. Moreover, BTC’s halving is just around the corner, which could send the original crypto to a new peak. In such a scenario, we may witness other assets hitting new highs.
Shiba Inu (SHIB) April price prediction
According to CoinCodex, Shiba Inu (SHIB) could surge to $0.00004323 on Apr. 1, 2024. However, the platform anticipates SHIB to continue its rally throughout next month, hitting a new all-time high late in the month. According to CoinCodex, SHIB could hit $0.00009891 by Apr. 22, 2024. Reaching $0.00009891 from current levels would translate to a growth of about 234.6%.
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Changelly also paints a bullish picture for SHIB. According to the platform, the popular dog-themed crypto will hit $0.00003823 on Apr. 1, 2024. Moreover, Changelly also anticipates SHIB to hit a new all-time high next month, reaching $0.00009508 on Apr. 21, 2024.
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SHIB’s bullish outlook could be due to BTC’s halving next month. Many analysts consider halvings bullish as they reduce the supply of an asset. BTC’s bullishness may trickle into other cryptocurrencies, such as Shiba Inu (SHIB).