The official marketing lead of the Shiba Inu team, who prefers call herself Lucie, has taken to the X/Twitter platform to make a bullish statement on SHIB, the meme coin.
Meanwhile, the SHIB price has been striving to recover after the recent massive plunge preceded by a large surge that followed the historic peak smashed by Bitcoin.
New SHIB ATH likely soon, Lucie believes
Lucie has tweeted that she took advantage of the recent SHIB plummet and bought the dip. The marketing lead of the SHIB team is positive that “if someone can pull miracle recovery it’s SHIB.”
Therefore, she is expecting the second largest meme cryptocurrency, SHIB, to reach a new all-time high pretty soon – before the upcoming Bitcoin halvening or shortly after it. The crucial Bitcoin event when the daily BTC production will shrink drastically is scheduled for the second half of April – less than a month away.
To avoid any possible misunderstandings, Lucie stressed that even though she is a member of the SHIB team, this is not an official prediction but her personal view of the situation on the cryptocurrency market.
SHIB's recent price action
Shiba Inu achieved an all-time high in October 2021, hitting $0.00008845 and currently trading roughly 70% below that historic price level. Currently, SHIB occupies 11th place as one of the coins with the largest market capitalization, breathing down Dogecoin’s neck, which holds 10th place on CoinMarketCap.
Since March 14, Shiba Inu has faced a massive price decline, leading to a loss of 23.55% up to today. Over the past 24 hours, the prominent meme cryptocurrency managed to regain 7.54% and is exchanging hands at $0.00002585 at the time of this writing.
SHIB burns take nosedive
In a recent development, the SHIB burn rate has demonstrated a major plunge, according to the Shibburn tracking platform. Within the last 24 hours, the SHIB community succeeded in transferring 12,157,601 SHIB to unspendable wallets. There have been eight burn transactions, many of which carried more than three million - 2.5 million SHIB to dead wallets.
This has pushed the burn rate down by almost 73%, compared to the 45,000,000 SHIB removed from circulation a day before.