SHIB Price Dips 15% in Over a Week, but Team Points to Long-Term Utility as Key
Main Idea
Despite a 15% price drop in SHIB over a week, the Shiba Inu team remains optimistic about its long-term utility and potential to reach $0.01, citing projects like Shibarium and ShibaSwap as key drivers.
Key Points
1. SHIB's price has declined by 15% in a week, trading around $0.000012, with technical indicators like RSI nearing oversold territory and MACD showing bearish momentum.
2. The Shiba Inu team, including marketing lead Lucie, maintains confidence in SHIB's long-term value, emphasizing utility-building projects like Shibarium and ShibaSwap.
3. Recent market uncertainty, including U.S. Federal Reserve decisions and tariff proposals, contributed to SHIB's price dip to $0.00001179 before a slight recovery.
4. The SHIB burn rate has dropped by 73.24% in 24 hours, totaling just over 2 million tokens, a decline from the previous 3.2 million, raising concerns among investors.
5. Lucie highlights $LEASH and $SHEB as 'dark horses' in the Shiba Inu ecosystem, while reiterating belief in SHIB's gradual growth toward $0.01.
Description
SHIB team remains committed to long-term growth despite ongoing market downturns Declining SHIB burn rate raises concerns about future supply reduction efforts Technical indicators point to weak momentum as RSI nears oversold territory The Shiba Inu (SHIB) team is maintaining its optimistic outlook for the token’s potential to reach $0.01, even as the broader crypto market struggles. While SHIB currently trades around the $0.000012 mark, key team members continue to project confidence in the ass...
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