Despite the sharp price drop in the last days of the past week, Shiba Inu’s marketing team member Lucie still appears to maintain an optimistic view on SHIB’s price, indicating that SHIB still holds a perspective towards a super cycle.
Is SHIB Price Gearing Up for a Rise?
Lucie, on Wednesday, April 17, made statements to X that shed light on Shiba Inu’s future using past data from Bitcoin.
Lucie shared a Bitcoin analysis chart that shows the market’s progress from 2015 to 2024, emphasizing key phases including a bottom stage, a reaccumulation stage, and a bull process.
Lucie highlighted the numerous green and red candles in the Bitcoin chart. On the other hand, looking at when the bottom stage occurs, it is generally seen when a cryptocurrency’s price is below expectations and shows signs of minor growth.
Meanwhile, the reaccumulation stage is a period when investors start buying cryptocurrency at a very cheap price with the expectation of a bull market.
Looking at the Bitcoin analysis chart, since Bitcoin did not fully enter a bull cycle starting in 2015, it went through a bottom and reaccumulation stage from 2017 to 2018.
A similar situation occurred in 2019 with Bitcoin hitting a new bottom and investors entering a reaccumulation phase, leading to a clear rise in BTC price from 2020 to 2021, which was interpreted as the continuation of a new bull.
Considering these historical price movements, Lucie emphasizes that a new bull cycle could reoccur between 2024 and 2025 following a reaccumulation phase that happened in 2023.
How Much is Shiba Inu Now?
In the last 30 days, SHIB’s price has significantly dropped, which meant a 23.24% decline. This price trend continues with the cryptocurrency recording a further drop of 21.99% within just a week.
On the other hand, it is discussed that whales are also accumulating tokens. After the sharp declines, a whale was seen purchasing 223 billion SHIB tokens valued at more than 5.7 million dollars at a price of $0.00001830.
According to the data obtained, SHIB is trading at $0.00002261 after a 2% rise at the time of writing, which could be interpreted as the price still trading at the same levels after the drop on Saturday.
