The Shiba Inu team has called their coin their "Bitcoin". This statement comes after the coin's poor performance yesterday, trading at $0.00001166, a 5% loss in the past 24 hours.
The dip comes as the border crypto market experiences turbulence, Despite the decline, the project's team remains confident, emphasizing its long-term vision and ecosystem growth.
In her tweet, Shiba Inu's marketing lead, Lucie, calls the community to stay confident in the coin, stating
"SHIB is our Bitcoin!"
But what does this statement really mean?
Lucie's statement highlights Shiba Inu's team's commitment to position the coin as more than just a memecoin.
While the project might have started as a token, but SHIB today embodies a complete ecosystem integrating several digital assets such as BONE, TREAT, SHEB, and LEASH, along with NFTs, a metaverse and a passionate community known as ShibArmy backing behind the project.
According to Lucie, the project is focused on continuous development and innovation rather than short-term price movements.
While many might say that comparing the token to Bitcoin would be a very bold statement, the statement should be understood more metaphorically rather than literally. This means that SHIB is aiming to be the foundation of the whole crypto ecosystem, rather than replacing or be like Bitcoin.
This could be seen through the introduction of Shibarium, a layer-2 solution aimed at improving scalability and reducing transaction fees to drive adoption.
While SHIB’s is not impervious to market volatility, but Lucie explains that the token's recent volatility is not due to fundamental weaknesses, but a result of the poltical fear and manipulation.
Some analysts suggest that a large-scale liquidation contributed to the decline, yet technical indicators point to a potential rebound.
SHIB is approaching the end of a “falling wedge” pattern, often a bullish signal, while a buying wall has formed around $0.0000115, establishing strong support. Trading volume has surged by 123.49% in the past 24 hours, reaching $363.28 million, suggesting renewed interest.
While some traders anticipate a comeback driven by large investors, others remain cautious amid ongoing market fluctuations. One thing is clear—Shiba Inu continues to capture attention, proving that it is far more than just another meme-driven asset.
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