In light of the upcoming Bitcoin halving, which is known to have a positive impact on prices, Lucie, a member of the Shiba Inu team, has suggested that the cryptocurrency could potentially experience a supercycle, where price trends mirror those of Bitcoin’s market movements. Lucie shared a chart illustrating a consistent pattern of asset bottoming out and then resuming accumulation, indicating the start of a bull market. However, they believe that the current market is still in the process of reaching these stages, suggesting that prices are still on an upward trajectory.
Lucie is urging the Shiba community to conduct thorough research by taking a broader view of the market. The supercycle is thought to be in its early stages, much like Lucie’s assessment. Every four years, Bitcoin undergoes a halving process, which involves reducing the number of new coins introduced into the protocol. This event usually marks a significant turning point in the crypto market. It is achieved by halving the reward for mining new blocks, resulting in a slower creation rate of Bitcoins and limited availability.
Throughout cryptocurrency history, intensive bull runs have followed each halving event, bolstering investor confidence. However, the anticipation of this scarcity has also played a crucial role in influencing investors’ decisions.
The Shiba community is now embracing the concept of a supercycle as the Bitcoin halving approaches. This refers to a period in the cryptocurrency market characterized by a rapid rise in prices. The belief is that a reduced supply will potentially drive up demand and consequently increase the price of Bitcoin. At the time of writing, SHIB was trading higher among the top 20 cryptocurrencies, with a 4% increase in the last 24 hours, reaching $0.00002243. Additionally, Shibarium’s gas token, BoneShibaSwap (BONE), also experienced a notable 4% rise in the last 24 hours, reaching a value of $0.594. The expectation of a Bitcoin-like supercycle in SHIB appears promising, although past performance does not necessarily guarantee future results.
