Although SHIB‘s price has dropped significantly in recent weeks, Lucie, an influential member of the Shiba Inu marketing team, remains positive about the digital currency’s underlying value. She believes that SHIB is still heading towards a “supercycle,” a prolonged period of growth and increasing prices.
SHIB Set For A Major Bullish Cycle
On Wednesday, April 17th, Lucie shared her insights about the future price direction of Shiba Inu on X (previously known as Twitter). She supported her analysis with historical information regarding Bitcoin‘s price trends.
Using a Bitcoin price chart from 2015 to 2024, Lucie pointed out significant stages: the downturns where prices hit rock bottom, the build-up phases when investors bought back in, and the bull markets with soaring prices.
When Bitcoin’s price hovers around a low point on Lucie’s chart, showing small signs of fluctuation with both green and red candles, this is referred to as the accumulation phase. Contrastingly, during the re-accumulation phase, investors purchase cryptocurrencies at relatively inexpensive rates, preparing for an anticipated bull market.
In 2015, Bitcoin went through a period of bottoming out and being bought up by investors at lower prices, which is referred to as a “re-accumulation phase.” This phase continued from 2017 to 2018. Then, starting in 2019, Bitcoin saw another bout of bottoming out, signaling another re-accumulation stage for investors. However, from 2020 to 2021, the value of Bitcoin significantly increased, indicating the start of a new bull market.
According to Lucie’s analysis of past Bitcoin price trends, she believes that the next major bull run for Bitcoin is expected to take place some time between 2024 and 2025. This prediction comes after a period of reaccumulation in 2023. The Shiba Inu marketing team interprets these similar market patterns as potential signs that Shiba Inu may undergo its own super cycle, keeping them hopeful regarding the digital currency’s future possibilities.
Shiba Inu Price Analysis
In the last month, SHIB‘s price has dropped dramatically, decreasing around 23.24%. The downward spiral persists, with a weekly decrease of nearly 22%.
Despite the declining trend, whales continue to buy large amounts of the meme coin SHIB in the shape of a dog at an impressive rate. Notably, an unidentified investor recently acquired an astonishing 223 billion SHIB tokens, which were worth over $5.7 million at the time, following a significant drop in value to $0.00001830.
Many investors view SHIB‘s continuous drops as a chance to buy at lower prices, anticipating a market upturn and potential price surge in the future. The cryptocurrency is currently priced at $0.000021 based on CoinMarketCap’s latest data.
In the early part of March, SHIB experienced significant growth with double-digit percentage increases that took its price to $0.000045. This was close to reaching half of its record high of $0.00008616, which it had reached in October 2021.
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2024-04-18 19:56