Shiba Inu (SHIB) has finally come out of resistance level. The assets are up 8.3% on the daily chart, 6.9% on the weekly chart, 3.9% on the 14-day chart, and 33% on the previous month. Despite the rally, Shiv has fallen 37.3% since May 2024.
Bitcoin breaching $100,000 will cause cryptocurrency to spike
The latest market gathering could be due to Bitcoin (BTC) regaining $100,000 again. SHIB and other crypto assets follow the trajectory of BTC.
The BTC breakout could be due to the Arizona governor signing the Digital Asset Reserve Fund bill into law. This move may have boosted investors’ trust.
Another bullish development is federal regulators that allow regulated banks to provide, sell and provide custody services to crypto assets. This approval could have led to SHIB and other assets seeing a surge in inflows.
Grok Ai predicts Shiba Inu price if Bitcoin reaches $200,000
According to X’s Grok AI, BTC could lead to speculative assets like Shib by hitting $200,000. The AI chatbot presents two scenarios of assets. If there is a strong correlation between BTC and SHIB, the latter increases by 204% to $0.00004386.
On the other hand, if Shiba Inu (SHIB) has a weak correlation with BTC, the assets can be traded for $0.00001357. Shib’s price will fall 5.83% if it drops to $0.00001357.
If Bitcoin (BTC) violates the $200,000 mark, there is a high chance that many crypto assets will reach a new peak. Shiba Inu (SHIB) could reach a new all-time high if BTC reaches $200,000. SHIB is currently down 83.3% from its all-time high of October 2021.
