Shiba Inu price could witness an extraordinary surge if it follows Bitcoin trajectory as the firstborn crypto continues its post-halving trends.
Bitcoin (BTC) and the rest of the crypto market have hit a snag in the Donald Trump-led uptrend, with Shiba Inu (SHIB) being one of the most affected. For context, as BTC struggles at the $80,000 mark, SHIB has collapsed by nearly 40% year-to-date, making it one of the biggest losers of the market-wide crash.
This trend is largely due to Shiba Inu’s higher volatility, which can be especially advantageous during market rebounds. As a result, several analysts have projected that SHIB could witness an impressive recovery push whenever the overall market trend reversed.
However, it remains to be seen how far this recovery could go. To ascertain this, The Crypto Basic recently assessed how much Bitcoin could get to if it follows a particular post-halving trends until 2028 and how high Shiba Inu’s recovery push could take its price should the meme coin follow Bitcoin’s footsteps.
Bitcoin’s Post-Halving Trend
Notably, this post-halving pattern has seen Bitcoin increase from its previous bottom in the preceding cycle to a much higher price at the close of the next halving month.
For context, BTC increased 433% from the 2011 cycle low to close November 2012 at $12 after the first Bitcoin halving that month. The second halving came up July 2016, and Bitcoin closed this month at $624, marking a 310% increase from the previous cycle low.
Meanwhile, after the third halving, which took place in May 2020, Bitcoin closed the month at $9,446, a 202% rise from the preceding cycle low. Further, the most recent halving, which took place in April 2024, saw Bitcoin close the month at $67,477, representing a 272% increase from the previous cycle low.
Interestingly, data confirms that the average increase from the cycle low to the close of the halving month amounts to 344%. With the next Bitcoin halving expected to occur in April 2028, this estimate could help us ascertain what Bitcoin price would be at the close of the next halving month.
Shiba Inu Price if Bitcoin Hits $220K Post 2028 Halving
However, this assessment would not be as accurate, considering that Bitcoin’s cycle low remains uncertain. Nonetheless, for the sake of the evaluation, we will consider the post-2024 halving floor price of $49,577 attained in August 2024. If Bitcoin increased 344% from this price, its value would skyrocket to $220,121.
Notably, with Bitcoin dictating the direction of the rest of the crypto market, this suggests that altcoins like Shiba Inu could see a comparative increase from the current level. For context, data from IntoTheBlock confirms that Shiba Inu has an 87% price correlation with Bitcoin in the past 30 days.
If this correlation persists, Shiba Inu could also see a comparative rise, but its greater volatility might ensure a higher upside. As a result, if SHIB sees a 3x more increase, this will translate to a 1,032% rise from the post-2024 halving low of $0.000008354. This leads to a new all-time high price of $0.00009456, around the $0.0001 mark.
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.
