SHIB to the Moon? 3 Absurd Reasons Why Shiba Inu Might Not Be Totally Doomed

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TL;DR

  • Shiba Inu (SHIB) is currently flailing like a fish out of water, but hey, it might just pull a rabbit out of its hat soon. 🎩🐇
  • Its recent nosedive happened around the same time the entire crypto market decided to take a nap after Donald Trump’s inauguration. Coincidence? Probably not. 🤷‍♂️

What Could Possibly Go Right?

Shiba Inu (SHIB) had a brief moment of glory in mid-January, hitting a local high of $0.00002485 (according to CoinMarketCap, the oracle of crypto prices). Since then, it’s been on a downward spiral, currently trading at a whopping $0.000021. 🚀📉

This underperformance aligns perfectly with the broader crypto market’s collective faceplant, which happened shortly after Donald Trump’s inauguration. 🎉 Some folks thought he’d mention crypto in his speech, but nope—not a peep. 🤐 This might explain why SHIB and friends are currently drowning in a sea of red. 🌊🔴

But wait! There’s hope! 🌈 Some factors suggest SHIB might just claw its way back up. First, there’s the burning mechanism, which is basically setting SHIB tokens on fire to make them scarcer. 🔥 Over the past 24 hours, the burn rate has skyrocketed by 500%, sending approximately 2.8 million tokens to the great null address in the sky. 🌌

Next up is TREAT, SHIB’s shiny new sidekick. 🦸‍♂️ This coin, designed to boost utility and engagement within the Shiba Inu ecosystem, was born on January 14. While it’s been a bit sluggish lately, its price shot up by over 50% in the last 24 hours, peaking at $0.013 before settling at $0.0082. Still in the green, though! 🟢

Since TREAT and SHIB are practically BFFs, TREAT’s success could give SHIB a much-needed boost. 🚀

Lastly, SHIB’s exchange netflow has been negative for the past four days, meaning more people are holding onto their tokens instead of dumping them on exchanges. 🏦 This could reduce selling pressure, which is generally considered a good thing. 👍

Bonus: DOGE’s Shadow

Let’s not forget Dogecoin, the OG meme coin. 🐕 DOGE’s price movements often influence SHIB, and recently, DOGE had a brief surge after Elon Musk’s Department of Government Efficiency (D.O.G.E.) featured its logo on their website. 🏛️ If DOGE thrives under the new US presidency, SHIB might just hitch a ride on its coattails. 🚗💨

So, will SHIB rise from the ashes like a phoenix, or will it continue to flop like a fish? Only time will tell. ⏳🐟

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2025-01-21 22:37