Disclaimer: Information found on CryptoreNews is those of writers quoted. It does not represent the opinions of CryptoreNews on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoreNews covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.
TL;DR
- $SHIB KNIGHT forecasts that Shiba Inu (SHIB) may soon reach an 8-month peak.
- Shibarium’s LUCIE expects a SHIB bull market due to its decentralized nature.
- Elements contributing to SHIB’s potential growth include widespread adoption, token burning, and advancements in Shibarium.
Is SHIB Prepared to Reclaim a Milestone?
The well-known cryptocurrency trader with the X (Twitter) handle $SHIB KNIGHT believes that the price of Shiba Inu (SHIB) could soon approach an 8-month high of around $0.0003.
This prediction is based on the belief that the current price of the memecoin has reached its lowest point, indicating that an upward movement is anticipated shortly.
Related Posts
$SHIB KNIGHT is not the sole user on X who has envisioned a price surge for SHIB. Shibarium’s Marketing Strategist – LUCIE – suggested last month that the asset might enter a bull market, asserting that the “goodness” ultimately “prevails.” They also stated that the memecoin is entirely decentralized and “represents the people.”
What Could Propel SHIB Higher?
Analysts have indicated that a possible price increase for Shiba Inu could be driven by various factors, including widespread adoption, the effective implementation of the token burning initiative, and ongoing development of the layer-2 scaling solution – Shibarium.
The project team revealed earlier this month that over 2.3 billion SHIB were burned in September. The process was even more effective in August when 5.7 billion tokens were sent to an inaccessible address.
Shibarium has also been progressing at a relatively good pace. It officially launched at the end of August, with its primary objective being to elevate Shiba Inu above its competitors by enhancing speed and reducing transaction costs.
The total number of transactions on the network has exceeded three million, while the overall count of wallet addresses has surpassed 1.25 million. Those interested in learning more about the L2 blockchain solution can view our video below:
SPECIAL OFFER (Sponsored) Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).
PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO50 code to receive up to $7,000 on your deposits.
