Shiba Inu price could witness a remarkable increase by the next Bitcoin halving in 2028 if the meme coin follows its upward trajectory.
Notably, the Bitcoin halving has always been a significant event for Bitcoin, and by extension, the rest of the crypto market. For the uninitiated, this event, which occurs once every four years, slashes the block reward for Bitcoin miners by half, effectively reducing the supply rate of the original cryptocurrency.
Shiba Inu Spikes 2,263,274%
This is often bullish for Bitcoin, as demand meets lower supply rate. Also, due to Bitcoin’s influence on the broader crypto market’s direction, a bullish price action for the firstborn crypto asset translates to price improvements for altcoins like Shiba Inu.
Interestingly, Shiba Inu has come a long way since its launch in August 2020, three months after the 2020 halving event. For context, the 2020 halving occurred in May of that year, with SHIB launching three months later. After Shiba Inu’s launch, the next Bitcoin halving occurred four years later, in April 2024.
During the April 2024 halving, SHIB changed hands at $0.000022, representing a massive gain from the 2020 value. Data from CoinMarketCap indicates that between the time of its launch and the time of the most recent Bitcoin halving, Shiba Inu rallied by a massive 2,263,274%.
Now, the next Bitcoin halving is expected to occur in 2028, slashing block rewards from the current 3.125 BTC to 1.56 BTC. Notably, if Shiba Inu price even replicates just 1% of its growth between launch and the 2020 halving, it could rally by as much as 22,632% or 227x.
Possible Shiba Inu Price at 2028 Bitcoin Halving
With Shiba Inu price trading at $0.000022 during the 2024 halving, a 22,632% increase from this level would lead to a value of $0.004979. Interestingly, analysts at Changelly, a crypto exchange resource, suggested that Shiba Inu price could hit the $0.0049 level in April 2040, twelve years after the 2028 halving.
Despite the extended timeframe, the $0.0049 price remains ambitious for Shiba Inu, potentially leading to a market cap of $2.8 trillion. For context, this would surpass the current Bitcoin valuation of $1.62 trillion and the global crypto market cap of $2.69 trillion.
As a result, we sought the opinion of AI Chatbot ChatGPT for more realistic targets for Shiba Inu price by the 2028 halving. The chatbot presented several growth patterns that could determine its trajectory, using a starting value of $0.00001303.
First, it presented a bearish case that would see Shiba Inu rise only 3x to $0.00003909 during the 2028 halving. For its moderate case, ChatGPT believes Shiba Inu price would jump 5x to $0.00006515, still below the 2021 all-time high. Meanwhile, the chatbot sets a 10x target of $0.0001303 if SHIB follows the 2020 to 2024 growth.
Notably, for its bullish case, ChatGPT predicts Shiba Inu price could rally 15x to $0.0001954. However, the “extreme bull case” projects a 20x price increase to $0.0002606. Changelly analysts expect SHIB to reach $0.000026 by February 2040. Currently, Shiba Inu price trades for $0.00001222, down 2.79% in the past 24 hours.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
