Bitcoin (BTC), the original cryptocurrency, will undergo its next halving cycle in April this year. Many consider halving cycles to be bullish because they reduce the number of coins created, reduce supply, and increase demand. Many analysts believe that there will be a bullish impact on the crypto market after the upcoming BTC halving. Other cryptocurrencies like Shiba Inu (SHIB) could also see a rally as a result of the halving.
Also Read: Shiba Inu: ChatGPT Predicts 76% Rally for SHIB in February 2024
Many analysts expect BTC to hit a new all-time high of $500,000, driven by the Securities and Exchange Commission (SEC) approval of 11 spot BTC exchange-traded funds (ETFs) in January and the halving BTC in April.
The price of Shiba Inu (SHIB) when BTC hits $500,000
Source – CoinCodex
According to popular AI (artificial intelligence) chatbot ChatGPT, the price of Shiba Inu could reach $0.0002 to $0.0005 if Bitcoin (BTC) hits $500,000. Reaching $0.0005 from current levels would represent over 5500% growth.
Also Read: How Much Shiba Inu Do You Need to Earn $10 Million When It Reaches $0.1?
Google's Bard AI, on the other hand, paints a rather pessimistic picture of the memecoin. According to Bard, the price of Shiba Inu (SHIB) could rise to $0.0000495 to $0.0000990 if BTC reaches $500,000. Reaching $0.0000990 from current levels would represent over 1000% growth. Although Bard's forecast is more pessimistic, both outlooks could result in significant gains.
Also read: Shiba Inu: $100 investment turns into $50 million in February 2024
Changelly, on the other hand, expects Shiba Inu (SHIB) to reach a maximum price of $0.0000149985 in 2024, an increase of approximately 68% from current levels. Telegaon is more bullish on SHIB and predicts that the asset will reach a peak price of $0.0000571 in 2024, an increase of over 540% from current levels.
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