Shiba Inu: Anticipating a Surge in SHIB as Bitcoin Gains Translate to Millions in Profits.
Thursday, Bitcoin soared to $44,000, marking its peak for 2023. It began the year at a humble $16,500 but has consistently appreciated, defying expectations. The cryptocurrency is now drawing significant interest due to substantial investments pouring in from various quarters, including institutional investors. This upward trajectory in Bitcoin's value is also positively impacting other cryptocurrencies, including Shiba Inu (SHIB), and various alternative coins.
Also Read...How Long Will It Take for Shiba Inu (SHIB) to Reach $1?
Bitcoin's Surge Causes Shiba Inu to Remove a Decimal Point
The king cryptocurrency Bitcoin is now pushing Shiba Inu (SHIB) to delete a ‘zero’ in the indices. Shiba Inu was trading at $0.000007 levels before BTC shot up in price but is now nearing the $0.00000971 mark. Another leg-up could send SHIB to the $0.00001 level, making it delete its fifth ‘zero’ due to Bitcoin’s help.
A handful of investors who reaped profits from Bitcoin are also now investing in leading altcoins such as Ripple’s XRP, Cardano (ADA), VeChain (VET), and Shiba Inu, along with its competitor Dogecoin. The overall cryptocurrency market is now brimming with fresh enthusiasm, making investors reap decent profits.
Also Read...December 2023 Transformation: $18,000 Investment in Shiba Inu (SHIB) Skyrockets to $43.7 Million.
This isn't the first time that Bitcoin has driven other altcoins to move in tandem with its steady price rise. BTC has been the market leader, and any signals indicating its rise often make other tokens rally along with it. Therefore, Bitcoin profits have a trickle-down effect, and the spillover benefits Shiba Inu, XRP, ADA, and other cryptocurrencies.
Additionally, the Bitcoin halving is on April 20, 2024, and BTC is expected to rise in the next four months. Read here to know more details about the Bitcoin halving and how the development helps the cryptocurrency markets to spike.
At press time, BTC was trading at $44,000 and up close to 1% in the 24-hours day trade. On the other hand, Shiba Inu was trading at $0.00000971.
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