Shiba Inu (SHIB) just made the news on KUTV, a popular television station based in Utah, United States. The memecoin made it on the “Eye On Your Money” show, anchored by Cristina Flores.
Also Read: Shiba Inu: Top Exchanges Record Influx of 6.84 Trillion SHIB in 24 Hours
Flores mentioned that SHIB was making waves in the crypto market and that the project had partnered with K9 Finance to bring more innovation. Flores noted that Bitcoin (BTC) hit a new all-time high recently and that SHIB was following its stride.
Will Shiba Inu (SHIB) rally after its news appearance?
Despite the news appearance, SHIB has faced a significant correction since yesterday. The asset has fallen 10.5% in the daily charts and 10.4% in the weekly charts. However, the popular memecoin is still up by 138.2% in the 14-day charts and 217.6% over the previous month. Moreover, SHIB’s price has risen by 166.5% since March 2023.
Also Read: Shiba Inu: Monthly $100 Since 2020 Turns Into $827 Million in 2024
SHIB’s latest correction is likely due to Bitcoin (BTC) falling below the $68k level. BTC’s correction is likely fuelled by investor fears after inflation numbers in the US increased in February. Moreover, the Federal Reserve may push back interest rate cuts due to the high CPI (Consumer Price Index) numbers.
Nonetheless, CoinCodex predicts Shiba Inu (SHIB) will bounce back soon. The platform anticipates SHIB to delete a zero and hit $0.000110 on Apr. 12, 2024. Reaching $0.000110 from current levels would translate to a growth of over 267%.
The asset may continue to rally in April, fuelled by BTC’s halving event. If BTC reclaims its all-time high level, we may witness another surge in the crypto markets. Moreover, if the US economy improves over the next month, it may further push SHIB’s price.
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