Shytoshi Kusama, the lead developer of Shiba Inu, has reacted to a newly revealed SHIB buying strategy by one of Bitcoin’s earliest adopters, Davinci Jeremie. Known for his 2013 YouTube video urging followers to buy at least $1 worth of Bitcoin, Jeremie remains bullish on Shiba Inu, frequently advocating for the cryptocurrency despite current market conditions.
Davinci Jeremie Advocates For Shiba Inu
Jeremie, a prominent Bitcoin proponent, has been vocal about Shiba Inu, encouraging investments in the token multiple times. He promoted SHIB in January, August, and October last year, and again this January, urging investors to “buy Shiba Inu.”
Recently, Jeremie shared a new SHIB buying strategy. In a video, he noted that SHIB had already experienced a significant price increase but was currently declining. He referenced SHIB’s price surge from $0.00000967 on Feb. 26 to a local high of $0.00004567 on March 5, a 372% increase in one week. This spike meant a $10,000 investment in SHIB could have grown to $47,228, yielding a $37,000 profit.
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Market Analysis And Projections
Jeremie acknowledged SHIB’s recent gains are now being shed, but he presented a chart showing SHIB trading within a descending parallel channel amid the ongoing correction. He suggested a breakout from this channel could trigger another price spike, potentially when SHIB surpasses the $0.000025 or $0.00003 levels.
Related article: Shiba Inu (SHIB) Faces a Crucial Test: Key Insights and Market Analysis
His initial target for this breakout is $0.00006, a level also noted by market analyst SHIB Knight. Jeremie’s chart advises buying SHIB below the $0.000025 and $0.00003 price levels. Shiba Inu’s lead developer supported this strategy, responding with a Dragonball meme.
Notably, Shiba Inu recently broke above the $0.000025 threshold, following a 17% spike over three days. SHIB hit $0.00002945 today, attempting to break above $0.00003.
Currently priced at $0.00002753, SHIB remains below the crucial $0.00003 level, offering an attractive entry point for new investors. However, this information is not investment advice, as SHIB might not rally as projected.
