Lucie, a marketer for Shiba Inu, believes that now is the perfect time for SHIB enthusiasts to closely monitor the performance of the meme coin in relation to Bitcoin. In a recent post on X, Lucie urged the community to pay attention to the price movements of SHIB and BTC, drawing attention to their performances between April 22 and 24 during a market-wide rebound.
To illustrate her point, Lucie presented an image that showed how Shiba Inu and Bitcoin exhibited similar performance trajectories on the chart during this period. It is worth noting that when BTC saw a 2.68% gain, pushing its value to $66,020, SHIB followed a similar pattern, increasing by 3.09% to a value of $0.00002651.
These gains came after a significant setback that saw Bitcoin’s price drop to $60,919 and SHIB’s price drop to $0.00001853 on April 13. Interestingly, both assets followed identical patterns during the recovery, as depicted in Lucie’s image.
The reason why it is important to pay attention to SHIB and BTC is because Bitcoin is the main driver of the crypto market, with altcoins like Shiba Inu typically following its lead. In the past 24 hours, Bitcoin has experienced bearish fluctuations around the $60,000 price level, decreasing by 2.03%. Shiba Inu has also seen a 1% drop in its performance during the same period.
Lucie’s observation of the correlation between SHIB and BTC during a subdued bullish sentiment in the market is likely to fuel optimism that Shiba Inu will ride the wave of the anticipated bullish trend following Bitcoin’s halving event.
It is worth noting that The Crypto Basic has frequently covered predictions for Shiba Inu’s potential surge during this bullish phase, especially when Bitcoin reaches milestones like $150K or $200K. One optimistic forecast for Shiba Inu, based on Bitcoin’s performance, is for SHIB to reach prices of $0.00013856 or even $0.00014.
Furthermore, Shiba Inu’s track record of closely following Bitcoin’s price movements was evident in the previous bull run, and it has already shown its ability to replicate a similar pattern in the current cycle.
Please note that this content is for informational purposes only and should not be considered financial advice. The views expressed in this article are solely the author’s and do not reflect the opinion of The Crypto Basic. Readers are encouraged to conduct their own research before making any investment decisions, and The Crypto Basic is not responsible for any financial losses incurred.