As a seasoned crypto investor with a few battle scars from past market cycles, I find Lucie’s tweet intriguing but also cautionary. The Shiba Inu team’s marketing lead might be onto something with her suggestion that the meme coin could be entering the “optimism” stage, which is typically followed by more significant price rallies. However, it’s essential to remember that markets don’t always adhere strictly to psychological stages, and not every asset follows the same pattern.
As a crypto investor, I’ve been closely following the developments with Shiba Inu (SHIB). Recently, Lucie, the marketing lead for the SHIB team, took to Twitter to share her thoughts on whether our beloved meme coin is on the brink of entering the “optimism” stage. This stage is known for its potential to trigger a significant price surge.
As a seasoned crypto investor, I can tell you that once the market shifts from “Optimism” to “Belief,” things really start to heat up. This is when individual investors become convinced that the particular cryptocurrency they’re holding will experience significant growth. The price jumps during this stage are noticeable but still manageable for most investors.
SHIB executive hints at possible surge soon
Lucie shared an image of the “Wall Street Guideline,” depicting each phase in a market cycle that various assets have experienced, complete with their corresponding ups and downs – Disbelief, Skepticism, Hopefulness, Optimism, Confidence, Nervousness, and Denial among them.
According to Lucie’s perspective, there’s a strong possibility that the price of Shiba Inu is on the verge of surging significantly, entering what’s referred to as the “optimism” phase on the chart. This stage is marked by a noticeable price uptick and is identified on the diagram as “This rally is genuine.”
The sequence in the diagram is as follows: “Optimism” gives rise to “Belief,” which leads to “Thrill,” and ultimately results in “Euphoria.” During the Thrill stage, one may feel exhilarated and motivated to make additional investments, while Euphoria brings about a sense of extreme confidence and elation, often accompanied by boastful exclamations.
SHIB price action
The Shibaswap community responded with varied perspectives to Lucie’s statement. Some were hopeful, believing in an imminent price surge, while others voiced skepticism and questioned Lucie’s assumptions.
Following the significant 11% drop SHIB experienced on Tuesday, which was marked by a large red hourly candle, this cryptocurrency has since been moving laterally between its support at $0.00001772 and resistance at $0.00001891. It’s attempting to surpass the latter barrier.
SHIB burns soar 530%
As a researcher studying Shiba Inu’s metrics, I’ve noticed an astonishing surge in burn rate – an increase of no less than 530% within the last 24 hours. This significant jump resulted in the transfer of approximately 37,534,163 Shiba Inu meme coins to unspendable blockchain addresses.
Among the thirteen recorded transactions, six of them involved the same wallet, which consumed a total of 15.8 million SHIB. The most significant transaction, however, was executed by a different wallet, transferring 10,027,548 SHIB.
As an analyst, I’ve examined the data, and I can tell you that a staggering amount of 410,727,009,502,240 SHIB tokens have been burned from the total circulating supply up to now. Among those, 410 trillion SHIB were burned by Ethereum co-founder Vitalik Buterin in the year 2021. The remaining SHIB tokens, which sum up to an enormous number, have been burnt since the beginning of 2022 through collective efforts of the dedicated community and the SHIB team.
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2024-06-21 12:08