SHIB News: Exec Reassures Community with Her Confidence in Shiba Inu’s Potential

• A Shiba Inu team member has lauded the “comeback” ability of the digital asset and praised the strong community motivating its evolution. 

• Shiba Inu is breaking out of the $0.000014 and $0.000018 range where 120,930 addresses purchased around 550 trillion SHIB tokens. 

Shiba Inu (SHIB) marketing lead Lucie has expressed her strong confidence in the meme coin, likening it to a “friend who bounces back no matter what.” This statement comes after the asset showed incredible resilience in the face of the recent broad market pullback to stage a mini comeback with a 3% surge in the last 24 hours. At press time, SHIB was up by 39% in the last 30 days and was trading at $0.00001809. 

According to Lucie, the project is backed by a strong community that subjects it to constant evolution to redefine the face of the meme ecosystem. 

Critically Analyzing Each Attribute in Lucie’s Statement

Investigating the factuality of these claims, CNF observed that the “comeback” label of this asset is historically correct, as Shiba Inu crashed by 80% after its initial launch in 2020. However, it staged one of the greatest comebacks in the industry’s history, with a staggering 14,467,432% surge between January 1, 2021, and March 7, 2023. Looking at the “strong community” claim by Lucie, CNF observed that the project’s X account has reached over 3.8 million followers from the few thousand recorded a couple of years ago. 

Investigating the constant evolution label of the Shiba Inu project, we found that her statement stems from the introduction of Shibarium and other groundbreaking projects in the pipeline. Adding to this, Shiba Inu is hosting its first-ever official event dubbed “ShibaCoin 2024.” 

As we comprehensively reported, the event will be held between November 5 and November 15, 2024, in Bangkok, Thailand. According to Lucie, Doge fans, Pepe enthusiasts, and WIF lovers would have the opportunity to interact with influencers, investors, and developers. 

This is the event for anyone passionate about Web3, decentralization, and the community-powered future of the Internet. You’ll hear from industry leaders, connect with like-minded people, and have a front-row seat to the evolution of blockchain, DeFi, and the metaverse. And, of course, it’s going to be fun—where else can you dive into crypto and meme culture all at once?

Meanwhile, investors’ recent increase in activities on Shibarium has caused the SHIB burn rate to increase by 1000%, with 6.54 million SHIB tokens removed from circulation. 

Shiba Inu Almost Breaking out of a Crucial Range

As we previously highlighted, an analyst identified as BigMike7335 (Michael) predicted that Shiba Inu could hit $0.0002479 once the asset breaks out of the $0.000014 and $0.000018 price range. According to him, 120,930 addresses bought around 550 trillion SHIB within this range, making it a crucial resistance zone.

Source: BigMike7335 on X

Based on our data, the asset is on the verge of breaking the upper limit of this range, setting it up for a huge run. 

Similarly, analyst Javon Marks rightly predicted that Shiba Inu had broken out of a falling wedge pattern and could stage a 351% surge to reach $0.000081.