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Shiba Inu has the potential to spike by as much as 30,385% to an ambitious $0.006539 price after the Bitcoin halving if it replicates a fraction of its previous upsurge.
With the Bitcoin halving just three days away, discussions surrounding its potential impact on Bitcoin’s price have gained steam. Notably, this event, which occurs every four years, helps reduce the daily inflation rate of new BTC tokens, further bolstering its price action.
The market observed this pattern after each of the three previous Bitcoin halving events in November 2012, July 2016 and May 2020. Remarkably, the price of Bitcoin saw rapid upswings following each of these events. As a result, industry commentators expect this trend to repeat in this cycle.
The Bitcoin Halving and Its Impact on Prices
Another interesting pattern is the effect these Bitcoin price rallies have had on the broader crypto market. Shiba Inu was one of the major beneficiaries of this trend, experiencing massive price surges that eventually transformed $12 to $1 million in 453 days.
This impressive returns potential has attracted numerous investors to the Shiba Inu market, with hope of seeing SHIB record a similar uptrend. With the crypto market now in a bull run phase and the imminent Bitcoin halving, investors see SHIB registering a price increase, but by how much?
Amid the uncertainties around the potential increase rate, we carried out an evaluation based on Shiba Inu’s uptrend from 2020 to 2021 shortly after the most recent Bitcoin halving. This assessment provides limited but valuable insights into what one could expect from SHIB in this cycle.
Bitcoin Could Hit $513K and Shiba Inu $0.0065 Post-Halving
Notably, Bitcoin traded at an average price of $8,500 at the time of the previous bull run in May 2020. The premier cryptocurrency rallied to a high of $69,000 in November 2021 after the halving. This marked an impressive 711% increase recorded 20 months after the halving event.
However, Shiba Inu, which launched three months after the 2020 Bitcoin halving, witnessed a more substantial price growth after the event. Nonetheless, this assessment will not consider Shiba Inu’s earliest trading price due to the low volumes, often reaching $300, it recorded at the time.
SHIB started witnessing real trading activity on Feb. 1, 2021, with its 24-hour volume spiking to $34.9 million. Shiba Inu’s price on this day stood at $0.00000002910. Remarkably, this price skyrocketed to the ATH of $0.00008845 in October 2021, marking a 303,851% rise in just eight months.
Now, if Bitcoin replicates its 711% post-halving increase during this market cycle, its price could skyrocket to approximately $513,000. SkyBridge Capital founder Anthony Scaramucci believes this $500,000 price is feasible. Should such a price increase occur in a similar timeframe, BTC could see the $513,000 value late 2025.
Similarly, if Shiba Inu replicates its 303,581% increase, its price would hit unprecedented values. Due to the massive rate of this surge, this evaluation only captures 10% of the increase, amounting to 30,385%. If SHIB rises by 30,385% after the Bitcoin halving, its price would rise from the current $0.00002145 to $0.006539.
Notably, history does not necessarily repeat but it often rhymes. However, while this evaluation considers a mere 10% of SHIB’s previous uptrend, there is no guarantee that Shiba Inu could see a price rally such as this. In addition, Bitcoin’s projected upsurge also remains speculative.