The weekend was a rollercoaster for the cryptocurrency market. Shiba Inu [SHIB] was undoubtedly a victim of this volatile situation. However, the asset recorded a 1.19% recovery at press time, bringing its price back to $0.00002236. Among them, the meme coin also retained the 12th position with a market cap of $13.1 billion. This further highlights the resilience of the asset during market fluctuations. As the community eagerly awaits the Bitcoin halving event, investors are eyeing SHIB and its potential surge in value.
Bitcoin Halving
The world’s largest cryptocurrency, Bitcoin, is set to halve in about a week. According to our Bitcoin halving countdown, the halving event is expected to occur around April 20. The event will further reduce miners’ rewards from 6.25 BTC per block to 3.125 BTC.
Halving is one of the most anticipated events in the cryptocurrency space. While Bitcoin’s price is expected to rise, altcoins are also expected to rise. Shiba Inu has seen significant upticks time and again. The community has been pinning hopes on the halving event to spark SHIB’s price action.
Shiba Inu halving prediction
According to Changelly, a significant change in the price of Shiba Inu is expected in April. Taking into account the price fluctuations of the previous year and the Bitcoin halving, analysts predict that the average price of SHIB will be $0.0000345 by April 2024. After the halving, the asset is expected to rise to a maximum price of $0.0000445.
As Bitcoin gets closer to its upcoming halving event, the entire market can be seen preparing for potential changes. Historically, Bitcoin halving events have paved the way for large price swings across the market. This further creates volatility and an opportunity for altcoins to shine.
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