Despite the pre-halving bloodbath that has reigned in the crypto market in recent weeks, Shiba Inu strategist Lucie is still optimistic about SHIB’s future price prospects, positing that the meme coin is on track for a supercycle — propelled by Bitcoin’s price action.
SHIB On Brink Of Parabolic Growth
Lucie shared some insights on the potential price movement of Shiba Inu (SHIB) in a Wednesday post.
The Shiba Inu marketing team member captioned a chart depicting Bitcoin’s price performance from 2015 to 2024, highlighting pivotal periods that marked a bottom phase, a re-accumulation phase, and a bull cycle. Lucie observed that this pattern is currently underway, and he expects bottoming and reaccumulation periods to usher in a full-blow bull rally.
Based on historical data, Lucie forecasts that the next Bitcoin bull market will commence between 2024 and 2025, on the back of the reaccumulation phase, which occurred in 2023. The Shiba Inu marketing lead sees these parallel market moves as proof that SHIB prices are set for a supercycle — a period of exponential upward trajectory. Lucie therefore urged the Shiba Inu community to zoom out.
Zoom out.
We’re still on track for a super cycle as far as I can see. It’s never a straight line to heaven.
2024/2025 will be interesting. $BTC x $SHIB pic.twitter.com/olvTGmjIJC
— 𝐋𝐔𝐂𝐈𝐄 | SHIB.IO
(@LucieSHIB) April 17, 2024
Bitcoin block subsidy halvings, which happen quadrennially, have historically been watershed moments in the crypto space. The milestone is baked into Bitcoin’s code and is a crucial part of its operation. Miners currently receive 6.25 BTC for each new block they create. That changes on April 20 and the reward will instead be slashed to 3.125 BTC.
Miners will then mint fewer coins, injecting fewer Bitcoins into circulation. If history is any guide, the price of the alpha crypto will soar meteorically as a result.
With the BTC halving, the SHIB Army will anticipate a supercycle’s commencement. Lucie’s forecast implies that Bitcoin’s bullish wave could send SHIB price action stratospheric.
At the time of writing, Shiba Inu is trading for $0.00002555, up 12.2% in the last 24 hours.
