Cryptocurrency news website:
A renowned cryptocurrency analyst on X, widely known as “Blockchainedbb,” has presented a novel perspective on Shiba Inu (SHIB). The expert shared his views, suggesting investors hold positions in Shiba Inu, as Bitcoin is set to surge to $75,000, potentially marking new price highs for SHIB enthusiasts.
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Expanding ecosystem development to aid Shiba Inu (SHIB) in reaching new highs?
Source: Pixabay
The Shiba Inu ecosystem is currently undergoing extensive development. Kronos Advanced Technology recently acknowledged the token, integrating SHIB as one of its payment settlement options, enhancing its token credibility.
Simultaneously, the SHIB ecosystem’s burning mechanism has reported impressive burn metrics. In June, nearly 900 million tokens were burned, which should reflect in SHIB’s future prices.
The Shiba Inu ecosystem has also gained recognition from Coinbase, with the exchange preparing to launch Shiba Inu futures in July 2024. The ecosystem is also committed to launching a blockchain version of Shiba Eternity, potentially aiding SHIB in achieving its dream of one cent.
Traders recommend holding Shiba Inu before Bitcoin surges to $75,000.
On X, a prominent cryptocurrency analyst “Blockchainedbb” shared a compelling new analysis on social media. The trader asserted that people should hold onto their SHIB holdings before Bitcoin reaches $75,000. The analyst later explained his recommendation for SHIB, citing its provision of retail liquidity for exits.
In another post, the analyst highlighted SHIB as the preferred choice for investors looking to expand their cryptocurrency portfolios.
Meanwhile, Blockchainedbb made optimistic predictions about Bitcoin soon surpassing the $75,000 mark.
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“Last month, I predicted Bitcoin would drop from $74,000 to $55,000, and currently, Bitcoin is rebounding around $56,000. During the downturn, many followers protected their portfolios. Since then, the most popular question on my subscription sources has been, ‘Can I buy again?’ My answer is: yes, at my current average. My target is $75,000.”
According to CoinCodex data, Bitcoin could surge in July, achieving a new ATH, provided it rebounds and capitalizes on the current bullish market momentum.
“The Bitcoin price is expected to rise by 34.05%, reaching $83,280 by August 1, 2024. Based on our technical indicators, the current sentiment is bearish, with the Fear and Greed Index at 51 (neutral). Bitcoin has recorded 16 out of 30 (53%) green trading days, with a price volatility of 4.92% over the past 30 days.”