THE Bitcoin halved The event is considered one of the most notable developments in crypto history. The event is set to disperse user momentum, generating moderate profits towards other coins by forcing users to explore other crypto tokens. Although the space may experience initial price fluctuations, the tokens are expected to gain considerable market strength later and benefit from the ongoing bull season. Shiba Inua leading meme cryptocurrency, is also hoping to take advantage of the upcoming Bitcoin halving wave.
Shiba Inu has always been a hub of speculation and intense pressure. The token has performed incredibly well, posting stellar gains in its wake. Bitcoin’s halving may further improve SHIB’s prospects, helping the token regain some of its lost graces. SHIB is sitting at $0.00002181 at press time, down 7% in the last 24 hours. Will this figure change after the Bitcoin halving? Let’s find out.
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Miracle before the halving: Shibarium sees an increase in active users
Pre-halving events have already started to unfold as Shiba Inu’s layer 2 solution, Shibarium, has seen a significant increase in its number of active users. According to Coinpedia Markets, Shibarium’s active user account has surpassed the 25,800 mark, with an 80% increase in the last 24 hours. With the Bitcoin halving fast approaching, the surge can easily be characterized as a mass exodus, where users can be seen transitioning to SHIB as an alternative to hedge and profit ahead of the halving event of Bitcoin.
Coinpedia further reported that SHIB saw a surge in its trading volume, with new transactions on the platform increasing from 419,517 to 958,438, an increase of almost 128% in the last 24 hours.
While it is true that the Bitcoin halving would impact and influence users’ investment patterns, a change in the status and prestige of the altcoin also largely depends on its tokenomics, its structure and sense of community. Shiba Inu, one of the original meme currency tokens, is expected to see a lasting impact cut in half. This can influence its price economics and potentially significantly alter its future price trajectory.
April Performance Forecast for Shiba Inu
The Bitcoin halving is scheduled for April 21, 2024. After the halving event, Shiba Inu may experience initial price volatility before regaining momentum and momentum.
According to CoinCodex, Shiba Inu could gain 49% after the Bitcoin halving, preferably around April 24, 2024.
“Based on these Shiba Inu projections, SHIB will change hands at $0.00003248 on April 23, 2024, gaining 49.08%.
Similarly, SHIB may trade within the normal price thresholds of $0.00002179 to $0.00007202 before moving to new price thresholds in May. CoinCodex predicts that SHIB will increase by 230% by May 2024.
Also Read: The 1 Cent Dream: When Will Shiba Inu (SHIB) Hit $0.01?
“Shiba Inu price could rise by 230.51% and reach $0.00007202 by May 16, 2024. According to our technical indicators, the current sentiment is bearish, while the Fear & Greed Index is reading 65 (greed ). Shiba Inu recorded 14/30 (47%) green days with a price volatility of 7.97% over the last 30 days. “
reference: watcher.guru