Dogecoin (DOGE) Price Predictions, Bitcoin Tests at $70K, Shiba Inu (SHIB) Adoption, : Bits Recap April 8

TL; DR

BTC briefly hovers above $70k, hinting that it may run ahead of Bitcoin's halving event, which historically leads to the highest price rallies. DOGE has regained the $0.20 mark with dramatic price hike forecasts. SHIB gains support from the mainstream crypto platform, enhancing its usability and accessibility.

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BTC returns to green territory

The leading cryptocurrency did not start April on the right foot (considering the record results achieved in March). Jump Up to $65,000 last week. However, the bulls came in at the end of the week, with the price of BTC once again surpassing the $70K mark. The asset is currently trading at approximately $69,700 (per CoinGecko data).

As many say, the bull run is still in its infancy; Because of such important things Bitcoin halving. The event, which takes place every four years, halves the rewards distributed to miners, thereby slowing the production of new coins. A supply constraint may cause prices to rise, demand may increase or remain stagnant.

Historically, a halving has been a precursor to a major rally for a major cryptocurrency and the entire market. The next such event is scheduled to take place later this month.

A famous cryptocurrency analyst recently using the X handle Mags He remembered How BTC Price Has Exploded After Each Past Half.

“BTC halving is only 2 weeks away. This is one of the highest monthly closes as the price hit a new ATH before halving and is currently consolidating near the ATH,” the analyst said.

Mags also Listed. A strategy that can yield high investor returns. In their view, people should buy BTC 500 days before the halving, HODL for a certain period of time and cash out 500 days after the final halving.

To learn more about one of the most anticipated events in the crypto sector, feel free to watch our curated video below.

How is DOGE doing?

The biggest meme coin in terms of total market capitalization has made headlines in the last few days by retrieving the $0.20 mark. Many analysts think the property has a lot of room for growth, considering impressive increases.

X user trader Tardigrade recently suggested that Dogecoin has a “7 year cycle”. Predict The price may rise to $2, $9, and possibly $40 in the future.

Jake Gagan, a crypto enthusiast with hundreds of thousands of followers, was brilliant; Prediction The dog-themed meme coin could reach the $1 level next year.

SHIB gets more support

DOGE's biggest rival in the meme coin realm – Shiba Inu – has also made waves of late, attracting the attention of a prominent cryptocurrency platform.

as a Cryptopotato reported, Nexo allowed users to purchase SHIB, explaining that card transactions can be accepted “within seconds.” The company made it possible to exchange rewards, borrow with the token and send assets to a friend via phone number or email.

Other leading crypto companies that have adopted SHIB include Binance, Coinbase, KrakenGemini, KuCoin, OKX, GroveXand many others.

Despite recent Nexo support, the Shiba Inu price remains in the red on a weekly basis. On the other hand, the property is up nearly 200% since the end of February.