Shiba Inu (SHIB) Analyst Predicts 8-Month High

Recently, a well-known Shiba Inu (SHIB) supporter made an audacious forecast. $SHIB Knight (@army_shiba) claims that SHIB is preparing for an incredible spike that would send it to an eight-month high, possibly as high as $0.00003. This prediction is made at a moment when it appears like the whole cryptocurrency market is in a downward trend.

SHIB Analyst Predicts 8-Month High
Source:Economic times

The analyst is quite certain that Shiba Inu (SHIB) has finally bottomed out and is poised for a spectacular rise, according to a recent post on X. $SHIB Knight interprets the impending spike as an indication of a persistent accumulation at the current price level.

Even if Shiba Inu hasn’t performed well lately, a committed community still supports it wholeheartedly. SHIB’s consistently rising burn rate is proof of their dedication.

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Token burning, which has always been a vital component of the Shiba Inu ecosystem, is simply transferring cryptocurrency to official wallets that are inaccessible to newcomers. As a result of this procedure, there is less bitcoin available for purchase, which might raise prices if demand for it increases.

Shiba Inu (SHIB) Analyst Predicts 8-Month High,Shiba Inu (SHIB) Analyst Predicts 8-Month High

The burn rate recently caused Shiba Inu (SHIB) to see a little spike; if this forecast comes true, we may witness this similar cycle occur on a larger scale. The increase in token burn rates corresponds with noteworthy advancements within the Shiba Inu ecosystem.

Shibarium, its layer-2 scaling solution, is the most notable. Shortly after its reactivation, Shibarium recently saw record-breaking transaction volumes.

The SHIB Army Reacts

The SHIB community was excited to hear this news, as many people agreed with $SHIB Knight and were looking forward to this surge’s arrival. A user said that everyone would have diamond hands going forward and that the current run felt like the bottom.

Another commenter commented, “2024 is the year,” despite the fact that SHIB Knight did not provide a date for this forecast. Another user projected that SHIB will drop three zeros, from its present price of $0.000007226 to an astounding $0.007226.

That being said, not everyone feels the same way. The forecast made by $SHIB Knight was dubbed the “funniest joke of the year” by one user. Another said that XRP was a better alternative and advised $SHIB Knight to keep dreaming.

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It looks like Shiba Inu (SHIB) is about to make a comeback, with goals not seen in the last eight months. All indications point to a positive future for SHIB, with a rising token burn rate and encouraging developments inside Shibarium.

Shytoshi Kusama, the chief engineer of the Shiba Inu ecosystem, has said that while token burning is essential, SHIB requires acceptance in order for its price to soar.

Shiba Inu (SHIB) Analyst Predicts 8-Month High,Shiba Inu (SHIB) Analyst Predicts 8-Month High,Shiba Inu (SHIB) Analyst Predicts 8-Month High

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