Shiba

Based

2024

Bitcoin

Shiba Inu

Despite experiencing steep price declines in the past few weeks, popular Shiba Inu marketing team member, <a href="https://bitcoinist.com/shiba-inu-marketing-lead-announces-massive-85-million-shib-rewards-for-stakers/">Lucie</a>, has remained optimistic about <a href="https://www.newsbtc.com/news/shiba-inu-surges-10-open-interest-explodes-on-top-exchanges-is-this-the-comeback/" rel="nofollow noopener" target="_blank">SHIB’s price fundamentals</a>, stating that the cryptocurrency is still on track for a supercycle. 
<h2 id="shib-set-for-a-major-bullish-cycle">SHIB Set For A Major Bullish Cycle</h2> 
On Wednesday, April 17, Lucie took to X (formerly Twitter) to <a href="https://x.com/lucieshib/status/1780472087255150607?s=46" rel="nofollow" target="_blank">shed light</a> on Shiba Inu’s price outlook using historical data of Bitcoin’s market movements. 
Sharing a Bitcoin analysis chart of the <a href="https://www.newsbtc.com/news/bitcoin/historical-trends-bitcoin-price/" rel="nofollow noopener" target="_blank">market’s progress from 2015 up to 2024</a>, Lucie highlighted key periods which displayed a bottom phase, a re-accumulation phase and a bull market. 
<a href="https://www.newsbtc.com/news/bitcoin/elliot-wave-theory-bitcoin-top/" rel="nofollow noopener" target="_blank">A bottom phase</a> typically occurs when the price of a cryptocurrency is low but appears to show minor signs of growth, as indicated by the multiple green and red candles on Lucie’s Bitcoin chart. On the other hand, a <a href="https://bitcoinist.com/trader-buy-bitcoin-price-adds-another-zero/">re-accumulation phase</a> is a period where investors begin to buy cryptocurrencies at a fairly cheap rate in anticipation of a bull market.&nbsp; 
According to the <a href="https://bitcoinist.com/bitcoin-market-analysis-prediction-for-shiba-coin-what-you-need-to-know-to-turn-a-profit/">Bitcoin analysis </a>chart, in 2015, Bitcoin experienced a bottom and re-accumulation phase from 2017 to 2018 before entering a full-blown bull cycle. A similar trend occurred in 2019 as Bitcoin bottomed again and investors entered a re-accumulation phase. From 2020 to 2021, the cryptocurrency surged considerably, marking the onset of another bull market.&nbsp; 
Based on these historical price movements, Lucie predicts that the <a href="https://www.newsbtc.com/news/bitcoin/waiting-for-the-bitcoin-bull-run-to-resume-heres-the-indicator-to-watch-for/" rel="nofollow noopener" target="_blank">next Bitcoin bull market </a>will likely happen between 2024 and 2025, following the reaccumulation phase, which occurred in 2023. The Shiba Inu marketing lead sees these parallel market movements as evidence that <a href="https://bitcoinist.com/shiba-inu-campaign-0-00028/">Shiba Inu</a> could still experience a <a href="https://bitcoinist.com/shiba-inu-to-make-miracle-recovery-to-new-ath/">super cycle</a>, maintaining optimism about the cryptocurrency’s long-term prospects.&nbsp; 
<h2 id="shiba-inu-price-analysis">Shiba Inu Price Analysis</h2> 
Over the past month, the price of SHIB has been <a href="https://bitcoinist.com/why-did-dogecoin-shiba-inu-and-other-meme-coins-crash/">plummeting significantly</a>, declining by approximately 23.24%. This trend continues as the cryptocurrency records further decline to 21.99% in just one week.&nbsp; 
Despite the downward spiral, <a href="https://www.newsbtc.com/shiba-inu/shiba-inu-records-2500-spike-in-whale-activity-shib-price-about-to-skyrocket/" rel="nofollow noopener" target="_blank">whales are still accumulating</a> the doggy-themed meme coin at a rapid pace. Notably, an anonymous whale had <a href="https://etherscan.io/tx/0x887228408edee4ff73d3d4e5acf661f14baf14286660aad3e5b8046fc34625be" rel="nofollow noopener" target="_blank">purchased</a> a whopping 223 billion SHIB tokens, valued at more than $5.7 million, after the cryptocurrency had crashed to a low of $0.00001830.&nbsp; 
For many investors, SHIB’s consistent declines are seen as a <a href="https://www.newsbtc.com/news/is-it-time-to-buy-shiba-inu/" rel="nofollow noopener" target="_blank">buying opportunity</a> as they gear up for a <a href="https://www.newsbtc.com/shiba-inu/shiba-inu-shib-price-recover/" rel="nofollow noopener" target="_blank">potential bull run</a> in the future. At the time of writing the cryptocurrency is trading at $0.000021, according to CoinMarketCap.&nbsp; 
Earlier in March, SHIB had <a href="https://www.newsbtc.com/shiba-inu/shiba-inu-price-skyrockets-heres-why/" rel="nofollow noopener" target="_blank">witnessed double-digit gains</a> that pushed its price to $0.000045, soaring almost half its all-time high of $0.00008616 in October 2021. 
<img loading="lazy" decoding="async" class="aligncenter size-medium" src="https://www.tradingview.com/x/Vqar40Hi/" alt="Shiba Inu price chart from Tradingview.com" width="3286" height="1530">

Shiba Inu Team Member Says SHIB Price Is Still On Track For A Supercycle

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