Analytic Platform Projects Shiba Inu to Surge Over 150% to $0.000069
Despite the ongoing bearish trend in the crypto market, CoinCodex, a leading analytic platform, is predicting that Shiba Inu (SHIB) will experience a significant price spike of over 150% by the end of this month.
Cryptocurrencies, including Shiba Inu (SHIB), have seen substantial declines in their prices this month. SHIB had a notable surge of over 250% in March but has since retraced most of those gains due to increased market volatility.
As of now, the price of Shiba Inu has fallen by 9.52% since the start of the month and is down 0.5% in the past 24 hours.
However, the recent downtrend of Shiba Inu may soon come to an end, with predictions suggesting a massive price surge by the end of the month.
According to CoinCodex, Shiba Inu could potentially reach a price of $0.00006983 by May 1. This projection represents a price surge of 151.4%. Given SHIB’s current price of $0.00002788, reaching $0.00006983 would signify a price increase of 150.46%.
Interestingly, CoinCodex also anticipates Shiba Inu to soar to an impressive $0.00009102 by May 12, signifying a massive 226% increase from the current price.
It’s important to note that this prediction is expected to unfold after the Bitcoin Halving event scheduled for April 19 and 20. Following the halving, Bitcoin miners will see their rewards reduced from 6.25 BTC to 3.125 BTC. This move aims to combat inflation, maintain scarcity, and potentially boost Bitcoin’s price. As Shiba Inu tends to move in tandem with Bitcoin, SHIB might experience a rally alongside BTC after the halving.
CoinCodex’s optimistic forecast for Shiba Inu comes shortly after Elon Musk’s AI chatbot Grok predicted that SHIB could reach an astounding $0.00009508 by April 3.