Analytic Platform Forecasts Shiba Inu Rally Amid Crypto Market Turbulence

SHIB Burn Rate Surges with 12.7 Million Shiba Inu Destroyed

Amidst a bearish trend in the broader crypto market, CoinCodex, a leading analytic platform, anticipates Shiba Inu (SHIB) to experience a remarkable price surge exceeding 150% by the end of the month.

Cryptocurrency values, including Shiba Inu (SHIB), have experienced substantial declines this month following a significant spike in March, leading to heightened market volatility. As of now, Shiba Inu’s price has decreased by 9.52% since the beginning of the month and 0.5% over the past 24 hours.

Related article: Analyst Predicts Fifth Elliott Wave Will Propel Shiba Inu (SHIB) to $0.0001

CoinCodex Forecast

CoinCodex predicts Shiba Inu could reach $0.00006983 by May 1, reflecting a surge of 151.4% from its current price of $0.00002788. Additionally, the platform forecasts a further increase to $0.00009102 by May 12, marking a 226% rise from the current level.

Related article: Shiba Inu Experiences a Remarkable Surge of 1058% in Whale Activity

The upcoming Bitcoin Halving, slated for April 19-20, will cut miners’ rewards in half, from 6.25 BTC to 3.125 BTC. This aims to tackle inflation and preserve scarcity in the Bitcoin ecosystem, potentially boosting its price significantly. Shiba Inu, closely linked to Bitcoin, could reap the rewards of this anticipated post-halving rally. Given Shiba Inu’s correlation with Bitcoin, it stands to benefit from the anticipated rally post-halving.

CoinCodex’s optimistic forecast follows Elon Musk’s AI chatbot Grok’s prediction of SHIB reaching $0.00009508 by April 3. These projections indicate growing confidence in Shiba Inu’s potential for substantial gains in the near future.

Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.

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