In August 2020, SHIB burst onto the scene, claiming to be the 'Dogecoin killer.' It made a big move by giving half of its coins to Ethereum big shot Vitalik Buterin, which caused quite a stir.

By 2021, SHIB was incredibly popular, with trading volumes competing with Dogecoin and Ethereum. However, the good times didn't last, as the price plummeted by over 90%, and by 2023, one SHIB was worth less than eight millionths of a dollar. Recently, though, SHIB seems to be showing signs of revival, with prices rising by over 220%. Although it's still far from the peak of 2021, it has at least reached parity with the high point from May of that year.

The 'burn rate' of Shiba Inu Coin is a key indicator that shows how optimistic the community is about the project. Reducing the number of coins can make SHIB rarer, improving sentiment, which might push the price up. Trading SHIB on Shibarium also incurs fees, and a portion of the coins is destroyed, which reduces the supply and stabilizes the price.

Although this strategy can lead to price increases in the long run, to see significant price movements, more coins need to be burned.

The relationship between SHIB and Bitcoin (BTC) is, to be honest, not very strong. However, altcoins like SHIB generally tend to follow Bitcoin's trends, especially when Bitcoin is being pumped by institutions.

Historically, the relationship between SHIB and Bitcoin has never been close.

Bitcoin has risen over five times since the last bear market, similar to the gains seen during the previous two bull markets around the same time.

If Bitcoin continues to rise at this pace, it could reach over $240,000 next year, which would be about 880 days from the last bear market low.
#加密市场反弹

Recently, I plan to invest in a potential coin that is ready for a significant surge, and doubling my investment seems quite simple. I am also looking for some potential coins to hold until the end of the year, with an expected growth of over ten times being quite feasible. If you want to keep up, follow my updates, leave a message, and like this, golden skirt.