SHIB price could surge 204% if Bitcoin hits $200K as Grok AI predicts two scenarios based on BTC correlation and market momentum
Shiba Inu (SHIB) is eventually emerging from its resistance. The asset is up 8.3% on the daily charts, 6.9% on the weekly charts, 3.9% on the 14-day charts, and 33% over the previous month. SHIB has experienced a 37.3% decline since May 2024, despite the recent rally.
Bitcoin surpasses $100,000, causing a surge in cryptocurrency prices.
Bitcoin (BTC) has once again surpassed the $100,000 threshold, which is likely the cause of the most recent market rally. BTC’s trajectory is being emulated by SHIB and other crypto assets.
The Arizona governor’s signing of a digital asset reserve fund bill into law may have contributed to BTC’s breakout. Investor confidence may have been enhanced by the action.
Another encouraging development is the Federal Regulator’s authorization for regulated banks to purchase, trade, and provide custody services for crypto assets. SHIB and other assets may have experienced an increase in inflows as a result of the approval.
The price of a Shiba Inu is predicted by Grok AI.
In the event that Bitcoin surpasses $200,000
A rally in speculative assets such as SHIB is probable as a result of BTC reaching $200,000, as per X’s Grok AI. The asset is presented in two scenarios by the AI chatbot. If there is a significant correlation between BTC and SHIB, the latter could rally by 204% to $0.00004386.
The asset could trade at $0.00001357 if Shiba Inu (SHIB) has a limited correlation with BTC, on the other hand. If the price of SHIB declines to $0.00001357, it will experience a 5.83% decline.
There is a high likelihood that numerous crypto assets will reach new highs if Bitcoin (BTC) surpasses the $200,000 threshold. Shiba Inu (SHIB) may also achieve a new all-time high if BTC reaches $200,000. SHIB is currently down by 83.3% from its all-time high of $0.00008616 in October 2021.
