The weekend has been a rollercoaster ride for the cryptocurrency market. Shiba Inu [SHIB] has certainly been on the receiving end of this volatile situation. However, at press time, the asset recorded a 1.19% recovery bringing its price back to $0.00002236. Amidst this, the meme coin also retained its spot in the 12th position with a market cap of $13.1 billion. This further highlights the asset’s resilience during market oscillations. The community eagerly anticipates the Bitcoin halving event, investors are fixated on SHIB and its potential surge in value.
Bitcoin Halving
The world’s largest cryptocurrency, Bitcoin is set to undergo halving in about a week. According to our Bitcoin Halving Countdown, the halving event is projected to occur around April 20. This event will further bring down the rewards for miners from 6.25 BTC to 3.125 BTC per block.
Halving is one of the most anticipated events in the crypto-verse. While it is expected to augment the price of Bitcoin, altcoins are also in for an uptick. Shiba Inu has time and again encountered prominent upticks. The community has been laying hopes on the halving event to trigger SHIB’s price movement.
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Shiba Inu Post Halving Prediction
According to Changelly, Shiba Inu is expected to record major changes in terms of price during April. Taking into consideration price fluctuations in the previous year and Bitcoin’s halving, analysts predict that SHIB will trade at an average price of $0.0000345 in April 2024. The asset is expected to rise to a maximum price of $0.0000445 following the halving.
As Bitcoin inches closer to the upcoming halving event, the entire market can be seen prepping for potential changes. Historically, Bitcoin halving events have paved the way to significant price movements across the market. This further creates volatility as well as opportunities for altcoins to shine.
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