A famous cryptocurrency analyst, widely known as “Blockchainedbb” on X, has put forward a novel perspective on Shiba Inu (SHIB). The expert has shared his views on the matter and added that investors should hold shares of Shiba Inu as Bitcoin is expected to surge to $75,000, which will bring new price highs for SHIB enthusiasts.
Meanwhile, the Shiba Inu ecosystem is currently undergoing extensive development. Kronos Advanced Technology recently publicly acknowledged the token. The company has integrated SHIB as one of its payment settlement options, giving it the credibility it deserves.
At the same time, the SHIB ecosystem’s burning mechanism has also reported astonishing burning figures. Nearly 900 million tokens were burned in June, which is expected to reflect in SHIB’s future prices.
The Shiba Inu ecosystem has also gained recognition from Coinbase, as the exchange is preparing to launch Shiba Inu futures in July 2024. The ecosystem is also committed to launching the blockchain version of Shiba Eternity, which may help SHIB realize its dream of being worth one cent.
Traders suggest holding Shiba Inu before Bitcoin surges to $75,000
A famous cryptocurrency analyst on X, known as “Blockchainedbb,” shared a convincing new analysis on social media. The trader claims that people should hold onto their Shiba Inu before Bitcoin surges to $75,000. The analyst later explained that he recommended SHIB because it provides retail liquidity for exits.
In another post, the analyst shared that SHIB is a preferred choice for investors looking to expand their cryptocurrency portfolios.
Meanwhile, Blockchainedbb made a positive prediction about Bitcoin breaking the $75,000 mark soon.
“Last month, I predicted that Bitcoin would drop from $74,000 to $55,000, and currently, the Bitcoin price is bouncing around $56,000. During the dip, many followers protected their portfolios. Since then, the most frequent question I’ve received on my subscription source is, ‘Can I buy again?’ My answer is: Yes, at my current average level. My target is $75,000.”
According to CoinCodex data, Bitcoin is expected to surge in July and reach a new ATH, provided it can rebound and take advantage of the current bullish market sentiment.
“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 showing 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.”