thecryptobasic.com
If Shiba Inu repeats its post-halving uptrend of 2021, it will record an extraordinary gain of 884,400% to reach a price of approximately $0.196.
Shiba Inu encountered a substantial obstacle after the commendable March rally that took it to $0.000045. Its price first stalled around the $0.00003 threshold for the rest of March. SHIB further relinquished more gains to the bears, collapsing by 59% from the March peak to as low as $0.00001853 last week.
However, enthusiasts are now pinning their hopes on the Bitcoin halving this week for Shiba Inu’s potential recovery. They draw optimism from historical precedents, particularly the pattern of bullish runs that often follow Bitcoin’s halving events.
For instance, Bitcoin halved in May 2020 at $8,374. Five months later, its price embarked on a bullish trajectory and maintained it into the new year. BTC reached $64,863 by April 2021 before a temporary pullback.
The premier crypto resumed its bullish momentum until November 2021, when it reached a new all-time high of $68,789. This impressive surge represented a staggering rally of over 721% since the halving event.
Shiba Inu Trajectory Post-halving 2021
Interestingly, Shiba Inu was not even in existence at the time of Bitcoin’s May 2020 halving. SHIB made its debut three months later with as much as nine leading zeros.
Initially, SHIB saw minimal trading activity during Bitcoin’s initial surge in late 2020. It was not until January 31, 2021, that Shiba Inu saw a significant trading volume of $5,708,932, with a price of $0.00000001.
From that point onward, SHIB consistently maintained trading volumes of thousands of dollars and sometimes millions. By the time Bitcoin reached its first $64K peak in April 2021, SHIB had set its own record price of $0.00000417.
Remarkably, while Bitcoin reached its new high at $68,789 in November 2021, Shiba Inu had already achieved its own peak at $0.00008845 in October 2021. From January to October that year, Shiba Inu experienced an incredible surge of 884,400%.
Shiba Inu Repeating History
If Bitcoin were to replicate the 721% surge it experienced post-halving, with its current price around $63,000, it would reach a price above $500,000. Similarly, if Shiba Inu were to repeat history and surge by 884,400%, with its current price at $0.00002221, it would theoretically reach $0.196.
However, prominent forecasting platforms do not foresee Shiba Inu reaching this price in the next two decades, let alone during this bullish season. As a result, market participants should not regard this evaluation as investment advice.