According to U.Today, Lucie, the marketing lead of the Shiba Inu team, recently hinted at a potential price surge for the SHIB meme coin. In a tweet, she suggested that the coin might be entering the 'optimism' stage of a market cycle, which is often followed by significant price increases. The stages following 'optimism' are 'belief', 'thrill', and 'euphoria', each associated with progressively higher price jumps.
Lucie's tweet included a screenshot of the 'Wall Street Cheat Sheet', a diagram that outlines the psychological stages of a market cycle. These stages include 'disbelief', 'hope', 'optimism', 'belief', 'complacency', 'anxiety', 'denial', and others. The 'optimism' stage is characterized by a notable price increase and is described as 'This rally is real'. It is followed by 'belief' ('Time to get fully invested'), 'thrill' ('I will buy more on margin. Gotta tell everyone to buy!'), and 'euphoria' ('I’m a genius! We’re all going to be rich!').
The reaction to Lucie's tweet among the SHIB community was mixed. While many agreed with her optimistic outlook and anticipate a price increase, others expressed doubt and uncertainty about her predictions. This comes after a significant 11% decline in SHIB's value on Tuesday, after which the coin has been trading sideways, fluctuating between the $0.00001772 support and the $0.00001891 resistance.
In other news, the Shiba Inu burn rate, a key metric for the coin, has seen a remarkable 530% increase over the past 24 hours. A total of 37,534,163 meme coins were transferred to unspendable blockchain addresses. The largest transaction involved 10,027,548 SHIB. To date, 410,727,009,502,240 SHIB from the total circulating supply have been burned. The majority of these coins were burned by Ethereum co-founder Vitalik Buterin in 2021, with the remainder being burned since the start of 2022 by the combined efforts of the community and the SHIB team.