As the crypto industry draws closer to the Bitcoin halving estimated to play out in April, all communities are speculating on how well their crypto assets will perform. Shiba Inu (SHIB) has not been left out, as the vibrant SHIB army is running wild with predictions of SHIB’s performance after the halving event.
There are many predictions of how high Bitcoin can go after the Bitcoin halving. Today, we’ve chosen $200,000, a modest 356.54% surge, as the target for Bitcoin. We consulted Bard, Google’s AI-powered Large Language Model (LLM), to see how high SHIB can climb if Bitcoin reaches the aforementioned price target.
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Bard admits that predicting the future price of any cryptocurrency is difficult, stating that SHIB is no exception. This difficulty is caused by the numerous factors that can influence its price, including the overall market sentiment, increased or decreased adoption, or shocking news, whether good or bad.
However, with a precise target for Bitcoin, SHIB’s potential price can be extrapolated from its relationship with the top cryptocurrency. Bard highlighted that there is a positive correlation between Bitcoin and SHIB in terms of price trends.
The AI tool wrote, “This means that when Bitcoin’s price goes up, SHIB’s price tends to go up as well, and vice versa. The strength of this correlation can vary over time, but it has been observed historically.”
Assuming Bitcoin reaches $200,000 after the Bitcoin halving, Bard presents two scenarios for SHIB.
Scenario 1 – Strong correlation: If there is a strong positive correlation between Bitcoin and SHIB, and Bitcoin reaches $200,000, Bard says SHIB could potentially reach $0.00004386. The chatbot got this price by multiplying SHIB’s current price by the ratio of Bitcoin’s post-halving price to its current price.
Scenario 2 – Weaker correlation: If the correlation between Bitcoin and SHIB is weaker, Bard believes that SHIB’s price increase could be less pronounced. In this case, the digital asset might only reach $0.00001357, a more conservative estimate. This would still see SHIB surpass $0.00001.
Read Also: Shiba Inu Burn Soars 160,000% As SHIB Price Regains Surging Momentum
Although none of these predictions will send SHIB past its all-time high, the Shiba Inu devs will soon introduce an automated burn portal, which could burn tons of SHIB tokens to help boost its price.
The beloved meme coin is currently trading at $0.000009608 after it dropped below $0.00001 recently. This drop was reportedly caused by rumors of the SEC denying all applications for spot Bitcoin ETFs. However, based on Bard’s prediction, SHIB holders won’t have to wait too long before their meme coin benefits from Bitcoin halving goodies.
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