The Shiba Inu (SHIB) recent surge has brought a lot of excitement, as the meme coin surpassed multiple resistance levels. SHIB reached a 24-hour high of $0.00002315 before a minor decline to its current price of $0.00002045. However, it still boasts an impressive 112% surge over the past week, according to CoinMarketCap.
SHIB’s trading volume has also skyrocketed, showing a 352.03% increase over the last 24 hours, currently at $6.09 billion. SHIB’s spectacular performance has renewed discussions about its future potential.
Shiba Inu Lead Dev Shares Bullish Expectations
The Shiba Inu lead developer, Shytoshi Kusama, weighing in on a conversation, expressed significant optimism for SHIB’s trajectory. Kusama believes that a price target of $0.00012, proposed by Lucie (@LucieSHIB), the Shiba Inu marketing strategist, is an underestimation of SHIB’s true potential.
Underestimate https://t.co/7X7dPTPO2t
— Shytoshi Kusama™ (@ShytoshiKusama) March 2, 2024
This bullish outlook aligns with the confidence prevalent within the Shiba Inu community, where some members anticipate prices as high as $0.001.
Based on Lucie’s analysis, we recently discovered that SHIB has the potential to surge 2,168% in one week. She initially predicted an 800% surge, and her confidence stems partly from SHIB’s impressive rally in 2021. Notably, a significant portion of this surge occurred before the monumental burn of 410 trillion SHIB tokens initiated by Ethereum founder Vitalik Buterin.
This historical performance highlights SHIB’s potential for organic growth driven by demand. However, the meme coin could do more than that, based on Kusama’s expectations.
SHIB’s Road to Unprecedented Heights
The ongoing token burns implemented through Shibarium and the auto-burn portal fuel optimism for the future. With SHIB’s deflationary model, significant token burning could send its price to unseen heights.
Shibburn shows that SHIB’s burn rate rose by 941.6%, and the meme coin skyrocketed to its current price. While the price encountered resistance just above $0.000023, SHIB has retained a significant portion of its gains, and could soon retest that level looking for a breakthrough. As burns continue, many believe it will soar higher, heading toward its all-time high of $0.00008845.
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Shiba Inu’s recent performance and the optimism of its lead developer suggest a promising future for the token. While the path forward may not be without challenges, SHIB’s dedicated community and ongoing developments within the Shiba Inu ecosystem provide a strong foundation for continued growth.
Meanwhile, the main bullish catalyst for a surge to $0.01 and $0.1 has been revealed, and if SHIB can sustain its momentum and apply this tool, it could reach those targets sooner than many expect.
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