Oscar Ramos, a crypto analyst with a growing following of over 88,000 subscribers on YouTube spoke about the general sentiment towards Shiba Inu (SHIB). The speaker began by acknowledging the frustration and disappointment many SHIB holders feel regarding its recent performance.
Comments like “I’m done,” “I’m selling,” and labeling SHIB a “scam” were highlighted, with the analyst expressing sympathy for these sentiments while asserting that it is not the right time to give up.
The analyst discussed the fluctuations in SHIB’s price, noting a range from $0.000010 to $0.000022. This was labeled as “phenomenal progress,” especially considering that SHIB had led the charts just weeks earlier.
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He also pointed out that recent challenges in the crypto market, including global events and regulatory pressures from figures like Gary Gensler, have not only affected SHIB but major cryptocurrencies like Bitcoin as well. Despite these challenges, the analyst urged holders to remain steadfast.
He emphasized that high levels of Fear, Uncertainty, and Doubt (FUD) can create opportunities, positing that it is during such times that “millionaires become rich.” The speaker encouraged SHIB holders to be patient, stating that there is still potential for the cryptocurrency even in tough times.
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The analyst candidly acknowledged that SHIB has been one of the worst-performing investments in terms of ROI this year, overshadowed by other meme coins. Competitors like SUI, FTX Token (FTT), and XRP have seen price pumps while SHIB has struggled. However, he remained optimistic, believing that this poor performance is temporary.
Hope for the Future of Shiba Inu: A Long Term Outlook
Looking to the future, the analyst stressed the importance of patience for SHIB holders. He reminded viewers that, although there may not be significant news coming from the SHIB ecosystem, events like conferences could eventually benefit SHIB.
He also pointed out that major whale investors continue to hold SHIB, which he viewed as a positive indicator for its potential.
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For those who purchased SHIB in 2020, the speaker expressed confidence in its eventual success. However, he recognized that those who bought in 2022 or during downturns have faced a tougher journey, emphasizing that SHIB requires patience and is not for the faint-hearted.
In comparing SHIB to competitors like Dogecoin and Pepe, he noted that while SHIB had previously led in trading volume, it is currently facing challenges. Nevertheless, the analyst maintained that SHIB still holds the potential for significant surges, referencing past moments of excitement as evidence that such occurrences could happen again.
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The post Shiba Inu Analyst Warns Against Dumping SHIB Meme Coins Despite Discouraging Price Action, Predicts Major Pumps Ahead appeared first on CaptainAltcoin.
