SHIB trader and online cryptocurrency influencer Lucie has expressed the belief that the token can rise by 40,238%. With this spike, Lucie said, SHIB’s current valuation would soar to $0.01, a significant milestone for the meme-based cryptocurrency.
Using social media, Lucie—who goes by @LucieSHIB on X—shared her positive thoughts for SHIB’s future. She expressed her view that SHIB can develop exponentially in a series of posts on her X handle, highlighting the possibility that the token may hit the elusive $0.01 price level. The recent performance of SHIB and its possible future course have come to light because of Lucie’s remarks.
At its current selling price of approximately $0.000045, a significant rise of more than 40,000% would be needed to reach a valuation of $0.01. This lofty goal appeared even more unachievable in light of SHIB’s June 2023 low of $0.00000543, which would require a rise of more than 700% from its lowest point.
Critics Say SHIB Would Overcome Some Obstacles Before Reaching $0.01
Lucie has remained unfazed, expressing faith in SHIB’s foundation and the community’s increasing support. She thinks SHIB can surpass expectations and achieve new heights with sustained acceptance, enhanced utility, and a favorable ecosystem. The cryptocurrency community has responded to Lucie’s audacious statement in various ways.
Some community members have praised her confidence and supported SHIB’s potential, but others have doubts about whether such a significant price hike is feasible. Critics contend that SHIB must overcome several psychological and technical obstacles to achieve $0.01, including investor attitude, market liquidity, and general market circumstances.
Solomon Odunayo from Time Tabloid has stress the need for extensive study and due diligence before making cryptocurrency investments and warn against irrational expectations. In 2020, Shiba Inu made a splash in the cryptocurrency industry due to the widespread Dogecoin meme, which swiftly won over a devoted fan base.
SHIB Transaction Rate Experience Major Drop, Burn Factors Explained
However, amid the growth in significant transactions done earlier today, the total volume of SHIB transactions dropped by more than 60%, falling from 6.36 trillion-2.06 trillion. Factors like the continued burn project targeted at reducing the circulating supply of SHIB are linked to the promised bullish sentiment.
SHIB is programmed with a deflationary system that increases the price of tokens as its supply declines. Also, there has been an abnormal occurrence in SHIB’s 20% bullish price trend. It is not yet determined if the price movement will affect the current move in behaviour. This development has remained a strong point of discussion in the SHIB community.
Analysis from Intotheblock has revealed that the number of major transactions made on the Shiba network increased significantly by 70%, to hit 204 in 24 hours. All this being equal, this rapid increase in transactions is described as a solid bullish indicator among key investors. Major transactions of over $100,000 had a major increase in volume.
Cryptocurrency Industry Influencers Comments, Remained Confident
The company is working on introducing a portal that initiates an automated burning system, which is believed to increase the token’s burning rate significantly – and probably speed up SHIB’s growth rate. Another cryptocurrency influencer and SHIB trader, Lola, with the X user name “@CryptoLollla,” compelled primary reasons for SHIB investors to remain loyal to SHIB.
The reasons include its official recognition by the Hong Kong authorities, its latest collaboration with Robinhood, its classification as a non-security by major cryptocurrency markets, its fast-growing popularity, and its large, active online community. Lola also stated that the decentralized nature of SHIB and its total supply are prime indicators of its positive trend.
The current divergence among Shiba Inu whales triggers the question of the implications of it’s future performance. Lucie also hinted that she was confident that SHIB would eventually hit $0.01 but didn’t give a specific timeframe. Another industry influencer, Changelly, while commenting on the topic, predicted that SHIB will likely reach $0.01 by 2040.
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