In light of the upcoming Bitcoin halving event, which has traditionally led to price rallies, Lucie, a member of the Shiba Inu team, alluded to the possibility of a supercycle for SHIB, propelled by Bitcoin market fluctuations.
In each market cycle, there is a tendency of bottoming and reaccumulation, which ultimately results in a bull market situation, as seen by the chart that Lucie gave. This pattern is presently being shown in the current market cycle, with bottoming and reaccumulation preceding the start of the bull run, which has capacity to continue based on Lucie’s chart.
https://x.com/LucieSHIB/status/1780472087255150607
Lucie, who is tagging Bitcoin and SHIB, is urging the Shiba Inu community to zoom out. She feels that, as far as she can see, prices are still on pace for a supercycle.
Half-yearly reductions in the value of bitcoin have historically marked significant shifts in the cryptocurrency market. These occurrences essentially slow down the rate at which new Bitcoins are generated and, as a result, limit supply by halving the incentive for mining new blocks.
Previous halvings have caused notable bullish runs in the cryptocurrency market, and investor excitement has frequently been stoked by the expectation of this scarcity impact.
As of press time, the countdown is two days and thirteen hours, with a projected date of April 20, according to blockchain explorer Oklink.
In light of the impending halving of Bitcoin, the SHIB community anticipates a supercycle, or a time of significant price increases for all cryptocurrencies. With the exception of Near Protocol, which saw a 9% daily increase in value, the prediction indicates that SHIB could see a significant increase in value as a result of the reduced supply and increased demand for Bitcoin. As of this writing, SHIB was trading higher among the top 20 and had increased by 4% in the previous day to $0.00002243.
BoneShibaSwap (BONE), the gas token for Shibarium, has experienced similar increases, rising 4% to $0.594 in the previous day.
It’s important to keep in mind that while the idea of a SHIB supercycle powered by Bitcoin may seem exciting, prior performance may not always translate into future success.
