The price of Shiba Inu (SHIB) could experience a significant surge if it follows Bitcoin’s (BTC) historical post-halving trends. While the broader crypto market faces fluctuations, analysts suggest that SHIB’s recovery potential remains strong, particularly if Bitcoin continues its pattern of exponential growth following halving events. Current Market Conditions Bitcoin and the cryptocurrency market recently encountered resistance, with BTC struggling to maintain momentum at the $80,000 level. This downturn has had a notable impact on SHIB, which has declined by nearly 40% since the start of the year. SHIB’s increased volatility makes it more susceptible to large price swings , both downward and upward. Historically, this characteristic has positioned SHIB as a strong candidate for recovery when the market trend shifts in a favorable direction. Given these conditions, analysts are evaluating how Bitcoin’s projected price growth could influence SHIB’s trajectory leading up to the 2028 halving. Bitcoin’s Post-Halving Performance Bitcoin’s historical price trends demonstrate a clear correlation between halving events and long-term price appreciation. Each halving, which reduces mining rewards, has contributed to significant price increases from previous cycle lows to the closing price of the halving month. In November 2012, Bitcoin surged by 433% from its prior cycle low, closing at $12. By July 2016, following the second halving, BTC had risen 310% to reach $624. The 2020 halving saw Bitcoin climb 202%, closing at $9,446 in May of that year. Most recently, the April 2024 halving resulted in a 272% increase, with Bitcoin closing the month at $67,477. Bitcoin Price Projection for 2028 While the precise market bottom for Bitcoin in this cycle remains uncertain, an estimate can be made based on previous trends. Bitcoin reached a post-2024 halving low of $49,577 in August 2024. Applying the average 344% increase observed in past cycles, Bitcoin could potentially rise to $220,121 by the time of the 2028 halving. Given Bitcoin’s dominant influence over the cryptocurrency market, its price trajectory is expected to impact altcoins, including Shiba Inu. We are on twitter, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) July 15, 2023 Price Projection if Bitcoin Hits $220K The digital asset has demonstrated a strong correlation with Bitcoin, with IntoTheBlock data confirming an 87% price correlation between the two assets over the past 30 days. If this relationship persists, SHIB’s price movement could mirror Bitcoin’s trend, albeit with greater volatility. If the token follows Bitcoin’s projected growth but exhibits a more pronounced increase due to its higher volatility, it could rise at approximately three times Bitcoin’s rate. A 1,032% increase from SHIB’s post-2024 halving low of $0.000008354 would result in a new peak of approximately $0.00009456—nearing the $0.0001 threshold. The token’s potential price movement remains closely tied to Bitcoin’s performance. If BTC follows historical post-halving trends and reaches $220K by 2028, SHIB could see substantial growth, possibly reaching a new all-time high. However, external market factors and macroeconomic conditions will also play a role in determining the actual trajectory of both assets. Investors should consider these variables when making long-term projections. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on Twitter , Facebook , Telegram , and Google News The post Here’s Shiba Inu (SHIB) Price if Bitcoin (BTC) Attains $220K appeared first on Times Tabloid .
