Shiba Inu Team Aims for New Record High Before Bitcoin Halving

Shiba Inu Shib

A key member of the Shiba Inu team anticipates that SHIB will reach a new all-time high very soon, possibly within the next month or two.

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Lucie, the official marketing lead of the Shiba Inu team, recently shared a positive message about SHIB, the meme coin, on the X/Twitter platform. At the same time, the SHIB price has been trying to bounce back after experiencing a significant drop following a sharp rise that followed Bitcoin’s historic peak.



Lucie’s Positive Outlook for SHIB

Lucie, the marketing lead of the SHIB team, has taken to Twitter to share her optimism about SHIB amid recent price fluctuations. She revealed that she took advantage of the recent SHIB plummet by purchasing during the dip.

Lucie is confident in SHIB’s potential for a “miracle recovery” and expects the second largest meme cryptocurrency to achieve a new all-time high soon, either before or shortly after the upcoming Bitcoin halvening. This event, scheduled for the second half of April, will significantly reduce daily BTC production.

Despite her affiliation with the SHIB team, Lucie emphasized that her views are personal and not an official prediction. She stressed the importance of understanding her perspective within the broader context of the cryptocurrency market.

Shiba Inu Faces Price Challenges

Shiba Inu reached an all-time high in October 2021, reaching $0.00008845. However, it is currently trading approximately 70% below this historic price level. Despite this, SHIB holds the 11th position in terms of market capitalization, closely trailing Dogecoin, which occupies the 10th spot on CoinMarketCap.

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Since March 14, Shiba Inu has experienced a significant price decline, leading to a loss of 23.55% up to the present day. However, over the past 24 hours, the prominent meme cryptocurrency has managed to recover slightly, gaining 7.54%. As of now, it is trading at $0.00002585.

SHIB Burn Rate Plunges: Recent Development

According to the Shibburn tracking platform, there has been a major plunge in the SHIB burn rate in a recent development. Within the last 24 hours, the SHIB community successfully transferred 12,157,601 SHIB to unspendable wallets through eight burn transactions. Many of these transactions involved transferring more than three million – 2.5 million SHIB to dead wallets.

This significant decrease in burn activity has led to a decline of almost 73% in the burn rate, compared to the 45,000,000 SHIB removed from circulation the day before.


Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

 

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  • Asad

    Asad is a dynamic and talented cryptocurrency content author who brings a wealth of knowledge and enthusiasm to every article. With a deep understanding of blockchain technology and a passion for digital assets, Asad's writing is both informative and engaging.

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