• Thu. Jul 18th, 2024

Shiba Inu Could Experience a Week-To-Week Price Increase of 800%, Reaching $0.0001206

Phillip Bryant

ByPhillip Bryant

Feb 29, 2024
Shiba Inu Could Experience a Week-To-Week Price Increase of 800%, Reaching $0.0001206

Shiba Inu enthusiasts are experiencing a resurgence of hope during the upward trend. There are new theories that suggest that there could be an increase of 800% in the next week, similar to what was seen in the market boom in 2021.

When compared to the rest of the market, Shiba Inu has performed exceptionally well during the surge in the price of Bitcoin (BTC). Although other assets have seen lower gains, Shiba Inu has experienced a 23.5% increase in the last twenty-four hours. In contrast, Ethereum (ETH) has increased by 5.43% during this period, while Bitcoin (BTC) has only increased by 9% during this period, despite the fact that it currently holds $62,000.

Discussions about significant price increases have been fueled by the recent surge in the price of SHIB, which has sparked new hope among traders by referring to information from the past; Lucie, a marketing expert who specializes in the Shiba Inu ecosystem, recently brought attention to the possibility of an increase in the value of SHIB.

Without Suffering Any Burns, SHIB Gathered in 2021

Lucie reported that Shiba Inu experienced a surge of 800% in just one week in 2021, even though there were no recorded burns. An inquiry conducted by The Crypto Basic validates the precise, bold statement made by the ecosystem marketing expert. Nevertheless, data indicates that the asset may have actually skyrocketed significantly.

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In 2021, $SHIB experienced a remarkable 800% surge within a week without any reductions. I am excited to witness the results in 2024. Gradual increases and consistent needs are crucial.SHIB is ready to surge and doesn’t wait for anyone.

— Lucie | SHIB.IO

Interestingly, according to CoinMarketCap (CMC), Shiba Inu was valued at $0.00000153 on May 7, 2021. However, the asset experienced a significant increase in price, reaching a record high of $0.00003469 on May 11, 2021. This represented a surge of 2,167% within four days.

Currently, Ryoshi, the unidentified creator of Shiba Inu, has already distributed fifty percent of the token’s supply to Ethereum founder Vitalik Buterin. Nevertheless, Buterin had not carried out the momentous SHIB incineration at the time SHIB experienced this surge.

A Rise of 800% May Bring the Price of a Shiba Inu to $0.0001206

Lucie highlighted this accomplishment, pointing out that the investment had managed to experience significant expansion despite the absence of any losses. Additionally, she conveyed her excitement to observe the extent of the token’s growth this year, particularly considering the regular reductions it is currently undergoing.

With Shiba Inu’s current value sitting at $0.00001340, a significant 800% surge would lead to a rise to $0.0001206, essentially causing SHIB to drop one decimal place. With such a surge in prices, a record high could be reached based on past data analysis.

Lucie suggests that gradual increases and high demand may drive the growth of Shiba Inu. Shibburn, a community-created Shiba Inu burn tracker, emphasized that the significant rise in Shiba Inu’s value in 2021 was primarily the result of increased interest, according to The Crypto Basic.

Buterin carried out the destruction of 410 trillion SHIB on May 16, 2021, just five days after SHIB skyrocketed to $0.00003469. Buterin’s token destruction happened at the same time as a pullback from the $0.00003469 peak but was unable to halt the drop. Following a decline, SHIB surged to its all-time high of $0.00008845 in October 2021 during the rebound.

Phillip Bryant

Phillip Bryant

Phillip Bryant, an esteemed writer in the financial field, imparts his extensive knowledge of currency markets to the readers of Main Crypto News. With a wealth of experience in international finance and a keen sense of market trends, Bryant offers timely and perceptive analysis of foreign exchange, keeping readers well-informed.

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