thecryptobasic.com
According to the Shiba Inu ecosystem market lead Lucie, SHIB is set for a super cycle following the completion of Bitcoin’s (BTC) latest re-accumulation cycle in 2023.
Lucie revealed her BTC analysis chart in a recent post on X, portraying market movements from 2014 up to a speculative 2025. The marketing lead highlighted three distinct phases in the BTC market — the ‘Bottom’, the ‘Re-accumulation’ phase, and finally the ‘Bull Market.’
Zoom out.
We're still on track for a super cycle as far as I can see. It's never a straight line to heaven.
2024/2025 will be interesting. $BTC x $SHIB pic.twitter.com/olvTGmjIJC
— 𝐋𝐔𝐂𝐈𝐄 | SHIB.IO 🧜🏼♀️ (@LucieSHIB) April 17, 2024
For context, the market bottom forms when a market downtrend stops, finding support at a specific price, and then reversing the trend to the upside. In Lucie’s chart, the latest BTC market bottom formed in November 2022 when BTC dropped to $15,479. However, SHIB did not bottom until June 2023, when it hit lows at $0.000005.
Re-accumulation phases signify stabilization of the market as investors start to re-enter the market — following the establishment of a market’s bottom. The chart shows that Bitcoin’s latest re-accumulation phase started in March 2023 and concluded in late 2023.
Within this period, BTC traded within a range of $24,840 and $31,875. Similarly, Shiba Inu also saw a price uptick shortly after it bottomed in June 2023. However, SHIB’s re-accumulation phase did not feature a substantial price growth.
With the re-accumulation phase now over and the market slipping into the bull run, Bitcoin’s price has increased, surpassing the 2021 ATH. In late February, SHIB price also began to increase, reaching highs of around $0.000045 — up 450% and just over halfway to its all-time high (ATH) of $0.00008845.
SHIB Price Market Sentiment
Despite the recent market collapse, the upcoming halving event is expected to further bolster price actions. Lucie previously noted the expectation that SHIB would reach its ATH soon before or shortly after the Bitcoin (BTC) halving event, expected by April 20.
SHIB currently trades around $0.000022 at the time of writing, meaning Lucie’s prediction still has at least until May to be proven correct or false. She has previously mentioned her long-standing belief in the project’s future and its potential to reach $0.01.
What To Expect
As a result of recent events — including building tensions surrounding Federal Reserve rate alterations and geopolitical tensions in Israel — SHIB price is down almost 20% on the month alongside the rest of the market.
Crypto Gem Finder, a market analyst, reinforces Lucie’s predictive analysis, suggesting that SHIB may be set for potential bullish momentum as the BTC halving event looms just days away.
$SHIB IS IT BULL FLAG ⛳#ShibaInu #SHIBARMY #BTCHalving #token2049dubai #ToTheMoon #Bitcoin pic.twitter.com/XchkTyrmbS
— Crypto Gem Finder (@all_crypto_gems) April 17, 2024
However, in light of institutional liquidity involvement in the market and the introduction of the Bitcoin ETF in January, there is no historical precedent reflective of the upcoming BTC halving.