In the face of Bitcoin halving, which is known to boost prices, Lucie, a Shiba Inu team member, indicated that the cryptocurrency could experience a supercycle wherein the price charts will flow like Bitcoin’s market movements do. Lucie posted a chart that shows a regular pattern of asset bottoming. Bottoming out and then Resuming accumulation is kickstarting a bull race, but their chart is running through these, so they believe that the prices are still going upward.
Anticipation as Bitcoin halving approaches
She is requesting the Shiba community to do their research by zooming out. The supercycle is even at the far stage, as much as she. Every four years, Bitcoin will go through a process called halving that includes reducing the number of new coins involved in the protocol.
This process usually represents a turning point in the crypto market. This is done by reducing the reward for mining the new blocks by half, which means that the rate at which Bitcoins are created slows, limiting availability.
Cryptocurrency history has witnessed intensive bull runs following each halving, enhancing investor confidence. However, the anticipation of such a shortage has often been an important influence on investors.
SHIB community embraces concept of supercycle
Given that Bitcoin halving is coming in place, the SHIB community is, in turn, starting to adhere to the idea of a supercycle—when the cryptocurrency market experiences a rapid price rise.
The call implies that “reduced supply” potentially increases “demand” and copes with the increasing price of Bitcoin as Near Protocol, which was higher by 9% on the daily time frame. SHIB was trading higher among the top 20 at the time of writing, rewarded with an increasing reward of 4% in the last 24 hours to $0.00002243.
With this, Shibarium’s gas token, BoneShibaSwap (BONE), has also recorded an appreciable but closer rise in the last 24 hours by 4% to reach the value of $0.594. The expectation of the Bitcoin-type supercycle in SHIB seems lucrative, but the performance in the past again is not correct for what will be in the future.
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