Usman Salis
The Shiba Inu team anticipates a new all-time high for SHIB as the meme coin's price aims to rebound after recent volatility.
SHIB's Potential ATH Before Bitcoin Halving
The marketing lead of the Shiba Inu team, Lucie, expresses optimism for SHIB's future, foreseeing a potential all-time high (ATH) in the coming weeks. Taking to his Twitter @LucieSHIB she disclosed her recent purchase of SHIB during its dip, underlining her confidence in the meme cryptocurrency's resilience.
Anticipation Amidst Market Fluctuations
Despite recent market turbulence, SHIB remains resilient. Lucie's positive outlook aligns with SHIB's historical capacity for a swift recovery, fueling expectations for an imminent ATH. Lucie, however, clarifies that her prediction reflects personal sentiment rather than an official stance from the SHIB team.
SHIB's Price Trajectory
SHIB, having peaked in October 2021 at $0.00008845, currently trades at approximately 70% below its ATH. Ranking 11th by market capitalization, SHIB continues to exert pressure on Dogecoin's position. Recent days saw SHIB experience a 23.55% decline followed by a 7.54% recovery, trading at $0.0000251 at the time of writing.
SHIB Burn Rate Decline
A notable development in SHIB's ecosystem is the decline in its burn rate, as reported by the Shibburn tracking platform. Within 24 hours, the SHIB community transferred 12,157,601 SHIB to unspendable wallets, marking a substantial decrease from previous burn rates. Despite recent fluctuations, SHIB's community remains active in its efforts to manage token circulation.
Conclusion
The SHIB community, buoyed by Lucie's optimism and ongoing initiatives, anticipates a potential surge in SHIB's value. With market dynamics evolving, stakeholders closely monitor SHIB's trajectory, positioning themselves for potential gains amidst volatility.
Usman Salis
