thecryptobasic.com
Shiba Inu marketer Lucie has asserted that it is prime time for SHIB enthusiasts to closely monitor the performance of the meme coin alongside the premier crypto, Bitcoin (BTC).
In a recent post on X, Lucie, Shiba Inu’s marketing specialist, urged the community to pay attention to price movements of SHIB and BTC. She cited the performances of both assets between April 22 and 24 during the market-wide rebound.
Lucie presented an image illustrating how Shiba Inu and Bitcoin exhibited similar performance trajectories on the chart during the period.
Pay attention $SHIB 🫱🏻🫲🏼 #BTC pic.twitter.com/V29MrpO6UB
— 𝐋𝐔𝐂𝐈𝐄 | SHIB.IO (@LucieSHIB) May 6, 2024
Notably, when BTC recorded a 2.68% gain that pushed its value to $66,020, SHIB pulled a similar pattern, increasing by 3.09% to a value of $0.00002651.
The gains in both assets emerged after a substantial setback that forced Bitcoin’s price to $60,919 and SHIB to $0.00001853 on April 13. Remarkably, in the recovery match, both assets established identical patterns, as Lucie’s image depicted.
Why Pay Attention to SHIB and BTC
Notably, Bitcoin is the primary driver of the crypto market, with altcoins such as Shiba Inu typically following its lead.
In the past 24 hours, Bitcoin has exhibited bearish fluctuations around the $60,000 price level, decreasing by 2.03%. Shiba Inu has experienced a 1% drop in its performance over the same period.
Essentially, the Shiba Inu official called attention to the remarkable correlation between SHIB and BTC as the market’s bullish sentiment subdued. This observation is likely to fuel optimism that Shiba Inu will ride the wave of the anticipated bullish trend following Bitcoin’s halving event.
Shiba Inu Mirroring Bitcoin
The Crypto Basic has frequently covered predictions for Shiba Inu’s potential surge during this bullish phase, especially in scenarios when Bitcoin reaches milestones like $150K or $200K. One of the more optimistic forecasts for Shiba Inu, in light of Bitcoin’s performance, is for SHIB to attain 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 demonstrated its ability to emulate a similar pattern in the current cycle.