Shiba Inu Team Denies Concern About SHIB Price Drop, Here’s Why
Amid the ongoing scenario of upheaval in the broader cryptocurrency market, shiba inu market leader Lucie has emerged with a reassuring stance. Notably, despite widespread unease over falling prices in the digital asset sector, Lucie’s latest words injected some optimism into the SHIB community.
Let’s take a look at the potential reason that may have triggered the recent market sell-off, according to Lucie.
Shiba Inu Team Optimistic Despite Market Turmoil
The latest comment from the leadership of the Shiba Inu market amidst the recent sell-off in the crypto market has caught the attention of crypto enthusiasts and the Shiba Inu community alike. Addressing potential selling concerns, Lucie expressed her belief in the resilience of the market.
In a recent X post, the Shiba Inu manager said:
This reflects his confidence in future developments in the cryptocurrency landscape, especially with the expectation of the approval of Spot Bitcoin and Ethereum ETFs in Hong Kong.
Additionally, the outlook underscores the cyclical nature of market fluctuations and the strategic positioning of companies and whales seeking to capitalize on acquisition opportunities. With the upcoming approval of ETFs in Hong Kong, reflecting the success witnessed in the US Spot Bitcoin ETFs, the Shiba Inu team’s perspective offers a reassuring narrative amidst the current market volatility.
Additionally, his mention of a “SUPER CYCLE” hints at a broader trajectory he envisions for the crypto market, despite short-term fluctuations.
Also Read: GBTC Outflows Exceed $16 Billion, Disputes CEO’s ‘Balance’ Comment
Hong Kong ETF Approval Sparks Debate
The prospect of spot Bitcoin and Ethereum ETFs being approved in Hong Kong as early as April 15 has reignited optimism in the SHIB community as well as the global crypto community. Following the successful launch of spot Bitcoin ETFs in the United States, the prospect of expansion into the Asian market has been met with anticipation.
In particular, this move not only signals the increasing acceptance of cryptocurrencies, but also opens up new avenues for investment and market participation.
Meanwhile, the volatility witnessed ahead of the approval of US Spot Bitcoin ETFs earlier this year is reminiscent of natural fluctuations in the crypto space. But recent statements from the Shiba Inu team offset the current concern by highlighting the market’s long-term potential amid short-term uncertainties.
As investors await the outcome of regulatory decisions, Lucie’s confidence serves as a beacon of hope, reassuring stakeholders of brighter days ahead in the unstable but hopeful world of cryptocurrencies. In particular, while the Shiba Inu price decreased by 11.94% at the time of writing and was traded at $0.00002433, the one-day trading volume increased by 164.45% to $1.19 billion.
Shiba Inu Price
Over the last 24 hours, meme coin has traded as high as $0.00002776 and as low as $0.00002233, reflecting the ongoing volatile scenario in the crypto market.
Also Read: Coinbase Challenges SEC’s Authority Over Crypto Transactions, Interim Appeals Filings
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A seasoned professional with 3 years of experience in the financial market, Rupam has honed his skills as a meticulous research analyst and insightful journalist. She enjoys exploring the dynamic nuances of the financial landscape. Currently working as a sub-editor at Coingape, Rupam’s expertise goes beyond traditional boundaries. His contributions include breaking news, examining AI-related developments, providing real-time crypto market updates, and providing insightful economic news. Rupam’s journey is marked by his passion to demystify the intricacies of finance and deliver impactful stories that will resonate with diverse audiences.
The content presented may contain the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. Neither the author nor the publication accepts any liability for your personal financial loss.
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