According to Lucie, the market lead for the Shiba Inu ecosystem, SHIB is anticipated to experience a significant cycle following the completion of Bitcoin’s latest re-accumulation cycle in 2023.
Lucie recently shared her analysis chart for BTC on X, which depicts market movements from 2014 up until a speculative projection for 2025. In her analysis, she highlighted three distinct phases in the BTC market: the ‘Bottom’, the ‘Re-accumulation’ phase, and the ‘Bull Market.’
To provide context, the market bottom occurs when a downtrend in the market comes to a halt, finds support at a specific price, and reverses the trend in an upward direction. Lucie’s chart reveals that the most recent BTC market bottom occurred in November 2022 when BTC dropped to $15,479. However, SHIB did not reach its bottom until June 2023, hitting lows of $0.000005.
Re-accumulation phases indicate a stabilization of the market as investors begin to re-enter after the establishment of a market bottom. Lucie’s chart shows that Bitcoin’s latest re-accumulation phase began in March 2023 and concluded in late 2023.
During this period, BTC traded within a range of $24,840 and $31,875. Similarly, Shiba Inu also experienced a price increase shortly after reaching its bottom in June 2023. However, SHIB’s re-accumulation phase did not see significant price growth.
Now that the re-accumulation phase is over and the market is entering a bull run, the price of Bitcoin has increased, surpassing its all-time high (ATH) from 2021. In late February, the price of SHIB also started to rise, reaching highs of around $0.000045, which is a 450% increase and just over halfway to its ATH of $0.00008845.
Despite the recent market collapse, the upcoming halving event is expected to further boost price movements. Lucie previously predicted that SHIB would reach its ATH soon before or shortly after the Bitcoin halving event, which is expected to occur by April 20.
At the time of writing, SHIB is trading around $0.000022, giving Lucie’s prediction until at least May to be proven correct or false. She has expressed her long-standing belief in the project’s future and its potential to reach $0.01.
Market analyst Crypto Gem Finder supports Lucie’s analysis and suggests that SHIB may experience bullish momentum as the BTC halving event approaches.
However, it is important to note that the involvement of institutional liquidity in the market and the introduction of the Bitcoin ETF in January create a unique situation without historical precedents for the upcoming BTC halving.
Disclaimer: This article provides informational content and should not be considered financial advice. The views expressed in this article are the author’s personal opinions and do not reflect the opinions of The Crypto Basic. Readers are encouraged to conduct thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
