Shiba Inu Name Echoes Across 41,300 Conversations—What’s The Buzz?

Christian Encila

11 months ago

3 mins read

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Shiba Inu (SHIB) has piqued the interest of crypto aficionados this week, with its price rising by more than 60% as part of the broader cryptocurrency market rally. SHIB, the second-largest meme coin by market capitalization, is now trading at approximately $0.00002803 with a 24-hour trading volume of $5.69 billion.

This steep surge inspired a new wave of enthusiasm among investors, both retail and institutional, as SHIB continues to prove itself to be more viable in the meme coin space. The upward rise of the coin sparked interest on X (Twitter), a site that has garnered over 41,300 postings mentioning SHIB in recent hours, keeping the speculation going.

$SHIB ❤️❤️💥❤️❤️ pic.twitter.com/k2TmXwhPil

— 𝐋𝐔𝐂𝐈𝐄 (@LucieSHIB) November 13, 2024

Lucie’s Bullish Outlook For Shiba Inu

Lucie, the marketing director of Shiba Inu, has been publicly vocal about her favorable assessment of the token, asserting that SHIB will soon achieve a price target of $0.00006. She recently emphasized SHIB’s exceptional lifetime performance in a tweet, which includes an astonishing increase of over 1.9 million percent against the dollar since its inception.

The tweet created interest, and propelled SHIB to a seven-month high of $0.00003031 then sold off slightly, despite the fact that Lucie did not give an exact timeline as when this should happen.

Her enthusiasm is contagious, and many investors are holding out at this point awaiting SHIB to continue on its upward trend, potentially reaching new heights to surpass its October 2021 all-time high of $0.00008616.

Whale Activity Indicates Profit-Taking Opportunity

Along with the price increase, SHIB has seen increased activity from large holders, or “whales,” who are frequently major market movers. Recently, a whale with the address “0xd6b” returned to the market after an eight-month absence, coinciding with SHIB’s recent advances.

SHIB market cap currently at $14.3 billion. Chart: TradingView

This whale, an early investor who previously profited $120 million from SHIB, transferred 100 billion SHIB, worth $2.81 million, to the Gemini Exchange. This move shows that the whale may be profiting from the continued rally.

While such moves frequently foreshadow a possible cooling spell, they also indicate that significant investors are closely monitoring SHIB’s price behavior, which contributes to overall market sentiment.

SHIB price up in the last week. Source: Bitstamp

Looking Ahead: Could Altcoins Surge?

As Shiba Inu maintains its recent momentum, the future is bright. While Lucie has cautioned that we may not yet be experiencing a full “Altcoin Season,” SHIB’s burgeoning social media presence and excitement over its possible rally suggest a shift in investor opinion.

The anticipation of a breakout that can take SHIB up to new levels has left the investors quite bullish, and most are waiting for possible developments in the market. It is uncertain if SHIB will meet its price expectations but presently, the meme coin is definitely one to watch in the digital currency space.

Featured image from Pexels, chart from TradingView

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.