In mid-March this month, Bitcoin rallied to a new high of $73,737, boosting the market. This extraordinary increase in the same period Shiba Inu It enabled the price to reach the highest level of the year, $0.00004282. This sudden rise in SHIB price occurred right after the Bitcoin halving event.
As we reported as Koinfinans.com Bitcoin The halving event will take place next month, on April 20, 2024. This event will halve the Bitcoin supply and increase the availability of the cryptocurrency. Demand is expected to be high with limited supply, which could further increase Bitcoin’s price. This move could enable not only Bitcoin, but also Shiba Inu and other leading cryptocurrencies to scale sustainably on indices.
Price estimates for Shiba Inu are quite optimistic. According to CoinCodex, after the Bitcoin halving SHIBIt is predicted that it may rise by another 225%. This prediction states that Shiba Inu could surpass the all-time high of $0.00008616 and reach a new ATH level of $0.00009.
This represents an increase and return on investment (ROI) of approximately 226% from its current price of $0.00002783. So, a $10,000 investment in SHIB could turn into $32,600 during Bitcoin halving next month if the predictions prove true. However, since the cryptocurrency market is highly volatile, it is not a given that SHIB will rise 225% in 30 days.
As a result, it is important to do careful research before trading in the cryptocurrency market. The Bitcoin halving event may cause uncertainty in the markets, so trading should be done considering the risks.
