Shiba Inu, the beloved dogecoin rival, is buzzing with excitement! A marketing specialist within the Shiba Inu ecosystem, Lucie, just dropped some intriguing hints suggesting a potential surge. Could this be the start of another epic rally for SHIB?
Buckle up and dive in to find out!
Historical Surge Sets the Stage
Let’s rewind to the 2021 bull run, a game-changer for Shiba Inu. Lucie draws parallels with this historical data, pointing out a jaw-dropping 800% surge in just one week, even without any recorded burns. The message is clear: history might repeat itself.
Lucie believes gradual burns and high demand could be the drivers behind Shiba Inu’s growth. The Shibburn tracker highlights Shiba Inu’s surge in 2021 due to increased demand. Despite a correction post-Vitalik Buterin’s burn of 410 trillion SHIB, Shiba Inu bounced back to hit an all-time high of $0.00008845 in October 2021.
Lucie’s insights have set the Shib Community abuzz with excitement. Many believe a Shiba Inu rally is imminent, especially considering its recent impressive 23.5% surge in the last 24 hours.
Read More: Shiba Inu Knocks Out A Zero With A Price Jump! What’s Next For SHIB In March?
Leaving the Giants Behind
In a head-turning comparison, Shiba Inu has outperformed major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH). While BTC saw a 9% increase and ETH a 5.43% rise in the last 24 hours, Shiba Inu’s bullish momentum has stolen the spotlight, sparking fresh speculation about its future trajectory.
The recent launch of SHEboshi and other community initiatives might be the catalyst behind Shiba Inu’s current price hike. Coinglass data supports this trend, showing a 25.96% increase in open interest and a trading volume surge to 127.11%.
The Road Ahead
As of now, Shiba Inu is trading at $0.00001340, setting the stage for a potential 800% rally. If this materializes, SHIB could reach $0.0001206, shedding one zero and establishing a new all-time high.
However, maintaining Shiba Inu (SHIB) above the support level of $0.00001074 is critical. A bullish scenario could lead to a retest of the resistance level at $0.00001142, potentially reaching the upper level of $0.00001197. Conversely, if bears take control, SHIB might test the support level of $0.00001012, risking a drop towards $0.00000971 if momentum isn’t regained.
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Investors are on the edge of their seats, anticipating a potential 800% rally. With the memory of Shiba Inu’s past rally fresh in mind, optimism is high about the cryptocurrency’s prospects in the coming weeks.
Brace yourselves for the Shiba surge!
