Shiba Inu (SHIB) could be on the verge of a significant price increase according to Lucie, the market lead for the Shiba Inu ecosystem. This prediction hinges on Bitcoin’s (BTC) recent market cycle, which Lucie believes sets the stage for a potential SHIB “super cycle.”
Bitcoin’s Market Cycle and Its Impact on SHIB
Lucie’s analysis, based on a chart outlining Bitcoin’s price movements from 2014 to a projected 2025, identifies three distinct phases in the BTC market: the bottom, the re-accumulation phase, and the bull market.
The market bottom signifies the low point of a downtrend, where the price finds support and begins to reverse course. In Lucie’s chart, this translates to November 2022 for Bitcoin, when it dipped to $15,479. Notably, SHIB established its bottom in June 2023, reaching lows of $0.000005.
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Following a market bottom comes the re-accumulation phase, where investors cautiously re-enter the market, leading to stabilization. The chart indicates Bitcoin’s re-accumulation phase began in March 2023 and concluded by late 2023, with the price oscillating between $24,840 and $31,875. Although SHIB experienced a price uptick after its June 2023 bottom, its re-accumulation phase lacked substantial growth.
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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
Bitcoin’s Bull Run and Potential for SHIB
With Bitcoin now firmly in a bull market, it has recorded a new price all-time high (ATH). SHIB has also seen some positive movement, reaching a yearly high of $0.000045 in late February, representing a 450% increase. However, this price point is still more than half below its own ATH of $0.00008845.
Shiba Inu Price Sentiment and Future Predictions
Despite a recent market downturn, some analysts remain optimistic about SHIB’s future. Lucie previously linked SHIB’s potential price surge to the upcoming Bitcoin halving event, anticipated for April 20. This event, which halves the amount of Bitcoin rewarded to miners every four years, has historically correlated with price increases for Bitcoin.
However, at the time of writing, SHIB is trading around $0.00002162 leaving Lucie’s prediction with some room for development. Additionally, she has equally expressed long-term confidence in the project, suggesting a potential future price of $0.01.
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Market Uncertainty and the Role of External Factors
Recent events, including potential Federal Reserve interest rate adjustments and geopolitical tensions, have contributed to an overall market decline, with SHIB dropping 26% in the past month. Market analyst Crypto Gem Finder aligns with Lucie’s overall prediction of a potential SHIB upswing due to the looming Bitcoin halving.
However, the introduction of a Bitcoin ETF in January and the growing influence of institutional investors add elements of uncertainty to the equation, as there is no historical precedent for a Bitcoin halving event under these new market conditions.
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