As the cryptocurrency community braces for the upcoming Bitcoin halving event, Shiba Inu team member Lucie has stirred speculation of a potential supercycle for SHIB, buoyed by the impending market dynamics of Bitcoin.
Lucie’s commentary was accompanied by a revealing chart illustrating a recurring pattern of market bottoming and reaccumulation across various cycles, culminating in bullish market scenarios. Current market conditions, as depicted in Lucie’s analysis, mirror this pattern with signs of bottoming and reaccumulation signaling the onset of a bullish phase, which Lucie suggests still holds untapped potential.
Encouraging the Shiba Inu community to adopt a broader perspective, Lucie asserts that the trajectory indicates a supercycle in the making, particularly highlighting the years 2024-2025 as pivotal. Lucie’s outlook, shared with a nod to both BTC and SHIB, underscores the anticipation surrounding Bitcoin’s halving event and its potential ripple effects across the cryptocurrency landscape.
Bitcoin halvings, occurring approximately every four years, historically mark significant turning points in the crypto market. These events curtail the reward for mining new blocks by half, effectively slowing the pace of new Bitcoin creation and constricting its supply.
Past Bitcoin halvings have precipitated substantial bullish rallies in the crypto market, with the anticipation of reduced supply often fueling investor optimism. Oklink, a blockchain explorer, reveals that the countdown stands at two days and 13 hours at press time, with the halving event projected for April 20.
With the Bitcoin halving imminent, the SHIB community is eyeing the prospect of a supercycle, characterized by a surge in cryptocurrency valuations. This forecast suggests that SHIB stands to gain significantly, leveraging Bitcoin’s diminished supply and heightened demand. Notably, SHIB exhibited a 4% increase in the last 24 hours, trading at $0.00002243, placing it among the top 20 performers, while Near Protocol experienced a 9% surge within the same timeframe.
The momentum extends to Shibarium’s gas token, BoneShibaSwap (BONE), which also recorded a 4% uptick in the last 24 hours, reaching $0.594.
While the notion of a Bitcoin-driven supercycle for SHIB sparks enthusiasm, it’s imperative to exercise caution, as past trends may not reliably predict future outcomes.
