Although SHIB‘s price has dropped significantly in recent weeks, Lucie, an influential marketing figure for the Shiba Inu community, continues to express confidence in the digital currency’s underlying value. She believes that SHIB is still following the pattern of a “supercycle,” a prolonged period of growth and recovery in the crypto market.
SHIB Set For A Major Bullish Cycle
On Wednesday, April 17th, Lucie shared her insights about the future pricing trend of Shiba Inu on X (previously known as Twitter). She supported her analysis with historical information about Bitcoin‘s price fluctuations.
Lucie discussed the Bitcoin price trend from 2015 to 2024 by presenting a chart, pointing out significant timeframes where the market experienced a downturn (bottom phase), a period of buying and accumulating (re-accumulation phase), and robust upward trends (bull market).
In simpler terms, during a bottom phase, the price of a cryptocurrency is low and there are frequent price fluctuations between increasing (green) and decreasing (red) candles on a chart, like Lucie’s Bitcoin chart. Conversely, in a re-accumulation phase, investors start purchasing cryptocurrencies at relatively low prices, hoping to profit from an upcoming bull market.
Based on the Bitcoin trend chart, in 2015, Bitcoin went through a deep slump and then underwent a period of consolidation or accumulation of coins among investors. This phase lasted from around 2017 to 2018. Subsequently, Bitcoin entered a robust uptrend or bull market. A comparable pattern emerged in 2019 when Bitcoin reached another low point and investors once again began purchasing coins for accumulation. Between 2020 and 2021, the cryptocurrency witnessed significant growth, signaling yet another bull market cycle.
According to Lucie’s analysis of past Bitcoin price trends, it’s expected that the next major Bitcoin bull run may occur around 2024 or 2025, after a period of accumulation in 2023. Meanwhile, the Shiba Inu marketing head interprets these similar market patterns as potential signs that Shiba Inu has the possibility of undergoing its own super cycle, remaining hopeful about the digital currency’s future growth prospects.
Shiba Inu Price Analysis
In the last month, SHIB‘s price has dropped dramatically, decreasing around 23.24%. This downward trend persists, with an additional decrease of nearly 22% observed within the past week.
In spite of the declining trend, whales continue to collect large quantities of the meme coin SHIB, modeled after dogs, at a fast rate. It’s worth mentioning that an anonymous investor bought an impressive amount of 223 billion SHIB tokens, equivalent to over $5.7 million, following a significant drop in the cryptocurrency’s value to $0.00001830.
Many investors view SHIB‘s persistent drops as a sign to purchase, anticipating a market surge in the future. Currently, the cryptocurrency is priced at $0.000021 on CoinMarketCap.
In the first half of March, SHIB experienced significant growth, reaching a price of $0.000045 which represented a nearly 50% increase from its all-time high of $0.00008616 achieved in October 2021.
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2024-04-18 19:11