Lucie, the marketing specialist for Shiba Inu, a popular meme coin, believes that now is the perfect time for SHIB enthusiasts to closely monitor the coin’s performance in comparison to Bitcoin (BTC), the leading cryptocurrency.
In a recent post on X, Lucie urged the community to pay attention to the price movements of SHIB and BTC, specifically referencing their performances between April 22 and 24 during a market-wide rebound.
To illustrate her point, Lucie presented an image showing how Shiba Inu and Bitcoin exhibited similar performance trajectories on the chart during that period. Notably, when BTC experienced a 2.68% gain, reaching a value of $66,020, SHIB followed a similar pattern and increased by 3.09% to a value of $0.00002651.
These gains came after both assets experienced a significant setback on April 13, with Bitcoin dropping to $60,919 and SHIB falling to $0.00001853. Remarkably, during the recovery, both assets established identical patterns, as depicted in Lucie’s image.
Lucie emphasized the importance of paying attention to SHIB and BTC because Bitcoin is the primary driver of the crypto market, with altcoins like Shiba Inu typically following its lead.
In the past 24 hours, Bitcoin has shown bearish fluctuations around the $60,000 price level, experiencing a 2.03% decrease. Shiba Inu, on the other hand, has had a 1% drop in performance during the same period.
Lucie highlighted the correlation between SHIB and BTC as the market’s bullish sentiment subsided. This observation is likely to fuel optimism that Shiba Inu will ride the wave of the anticipated bullish trend following Bitcoin’s halving event.
The Crypto Basic has previously covered predictions for Shiba Inu’s potential surge during this bullish phase, especially when Bitcoin reaches milestones like $150K or $200K. One optimistic forecast for SHIB, based on Bitcoin’s performance, is for it to reach prices of $0.00013856 or even $0.00014.
Furthermore, Shiba Inu’s track record of closely following Bitcoin’s price movements was evident in the previous bull run, and it has already demonstrated its ability to emulate a similar pattern in the current cycle.
It’s important to note that this content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to conduct thorough research before making any investment decisions, as The Crypto Basic is not responsible for any financial losses.