A notable crypto analyst popularly referred to as “Blockchainedbb ” on X has come up with a novel new sentiment about Shiba Inu (SHIB). The expert has voiced his opinion on the same, adding that investors should hold onto their Shiba Inu holdings as Bitcoin’s impending boom to $75k is capable of ushering in a new price high for SHIB enthusiasts.
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Expansive Ecosystem Developments to Help Shiba Inu (SHIB) Claim A New High?
The Shiba Inu ecosystem is currently undergoing a massive developmental haul. The token has recently been publicly acknowledged by Kronos Advanced Technology. The firm has integrated SHIB as one of its options for payment settlement, giving it the required credibility that the token deserves.
At the same time, the SHIB ecosystem burn mechanism is also reporting staggering burn metrics. Nearly 900 million tokens were burned in June, which ought to be reflected in SHIB’s future price.
The Shiba Inu ecosystem has also been acknowledged by Coinbase, as the exchange is preparing to launch Shiba Inu futures in July 2024. The ecosystem is also working on launching the blockchain version of Shiba Eternity which could help SHIB avail its one-cent dream.
Trader Suggests Holding Shiba Inu Ahead Of Bitcoin’s Spike To $75K
A notable crypto analyst on X, “Blockchainedbb,” has shared a new compelling analysis on social media. The trader claimed that people should hold onto their Shib holdings before Bitcoin skyrocketed to $75K. The analyst later shared that the reason he is recommending SHIB to people is the fact that it offers retail liquidity for exit.
In another post, the analyst shared how SHIB is the number one choice for investors who are looking forward to scaling their crypto portfolios.
At the same time, Blockchainedbb has issued positive predictions on Bitcoin touching the $75K mark very soon.
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“Last month, I predicted a dip from 74K to 55K, which has occurred, with $BTC currently bouncing around 56K. So many followers safeguarded their portfolios during the dip. Since then, the most popular query on my feed is. Can I buy again? My response is: Yes, I am currently averaging. My target is $75,000.00.”
According to CoinCodex, Bitcoin may surge and spike to claim a new ATH in July, provided it’s able to bounce back and leverage the current bull momentum of the market.
“The price of Bitcoin is predicted to rise by 34.05% and reach $83,280 by August 1, 2024. Per our technical indicators, the current sentiment is bearish, while the Fear & Greed Index is showing 51 (neutral). Bitcoin recorded 16/30 (53%) green days with 4.92% price volatility over the last 30 days.”