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Shiba Inu’s Market Cycle Insights: Is SHIB Price Surge Imminent?

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In a recent tweet, Shiba Inu’s marketing lead, Lucie, addressed the SHIB army, suggesting that the SHIB meme coin might soon enter the “optimism” stage. This stage, according to the “Wall Street Cheat Sheet” shared by Lucie, promises a significant price surge. Following “Optimism” are stages of “Belief,” “Thrill,” and “Euphoria,” each marked by even larger price jumps.

Potential for Price Surge

Lucie hinted at a possible price surge, sharing a screenshot of the “Wall Street Cheat Sheet” which outlines the psychological stages of a market cycle. These stages include Disbelief, Hope, Optimism, Belief, Complacency, Anxiety, and Denial. Lucie believes Shiba Inu might be on the verge of entering the “optimism” stage, characterized by a notable price increase. 

Related article: Shiba Inu Leads Meme Coin Rebound with 4.28% Surge

This stage is described as “This rally is real.” The next stage, “Belief,” suggests it is “Time to get fully invested.” Following “Belief” is “Thrill,” where investors might think, “I will buy more on margin. Gotta tell everyone to buy!” Finally, “Euphoria” is marked by slogans such as “I’m a genius! We’re all going to be rich!” The SHIB community had mixed reactions to Lucie’s statement. Many optimistically agreed, expecting a price increase soon. However, some fans expressed doubt and uncertainty about Lucie’s assumptions. 

Related article: Shiba Inu Adoption Spreads: Real-World Applications Expanding

After an 11% decline on Tuesday, marked by a large red hourly candle, SHIB, the second-largest meme cryptocurrency, has been trading sideways. It has been moving in a range between the $0.00001772 support and the $0.00001891 resistance, striving to break through the latter.

SHIB Burns Surges 530%

Meanwhile, a key Shiba Inu metric, the burn rate, has shown a 530% increase over the past 24 hours. Users transferred a total of 37,534,163 SHIB coins to unspendable blockchain addresses. Out of 13 transactions, six were from the same wallet, burning 15.8 million SHIB. The largest transaction, made by another wallet, carried 10,027,548 SHIB.

Lucie’s insights and the increased burn rate have sparked both excitement and skepticism within the SHIB community. The market is closely watching to see if it will indeed enter the “optimism” stage and experience the anticipated price surge.

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Singapore, Singapore, 17th July 2024, Chainwire