Shiba Inu could potentially achieve an astonishing gain of 884,400% if it follows the same upward trend as it did after the halving in 2021, reaching a price of approximately $0.196.
After an impressive rally in March that pushed its price to $0.000045, Shiba Inu faced a significant hurdle. Throughout the rest of March, its price remained stagnant around the $0.00003 mark. Subsequently, SHIB lost even more ground to the bears, plummeting by 59% from its peak in March to a low of $0.00001853 last week.
However, supporters of Shiba Inu are now hopeful about the Bitcoin halving happening this week, believing it could lead to a recovery for SHIB. They draw inspiration from historical patterns, specifically the bullish runs that often follow Bitcoin’s halving events.
One example of this is when Bitcoin halved in May 2020 at $8,374. Five months later, its price embarked on a bullish trajectory that continued into the new year. By April 2021, BTC reached $64,863 before experiencing a temporary pullback.
Bitcoin then resumed its bullish momentum, reaching a new all-time high of $68,789 in November 2021. This remarkable surge represented a staggering rally of over 721% since the halving event.
Interestingly, Shiba Inu did not even exist during Bitcoin’s halving in May 2020. SHIB made its debut three months later, with a price that had nine leading zeros.
Initially, SHIB saw minimal trading activity during Bitcoin’s initial surge in late 2020. It wasn’t until January 31, 2021, that Shiba Inu experienced significant trading volume, reaching $5,708,932 with a price of $0.00000001.
From that point onward, SHIB consistently maintained trading volumes in the thousands and sometimes millions of dollars. By the time Bitcoin reached its peak of $64,000 in April 2021, SHIB had already set its own record price of $0.00000417.
Remarkably, while Bitcoin reached its new high of $68,789 in November 2021, Shiba Inu had already achieved its own peak at $0.00008845 in October 2021. From January to October of that year, Shiba Inu experienced an incredible surge of 884,400%.
If Bitcoin were to replicate its 721% surge after the halving, with its current price around $63,000, it would exceed $500,000. Similarly, if Shiba Inu were to repeat history and surge by 884,400%, with its current price at $0.00002221, it would theoretically reach $0.196.
However, prominent forecasting platforms do not anticipate Shiba Inu reaching this price in the next two decades, let alone during this bullish season. Therefore, market participants should not consider this evaluation as investment advice.
Disclaimer: This content is provided for informational purposes only and should not be construed as financial advice. The opinions expressed in this article are solely those of the author and do not reflect the opinion of The Crypto Basic. Readers are advised to conduct their own research before making any investment decisions. The Crypto Basic assumes no responsibility for any financial losses incurred.