- Shiba Inu (SHIB) is under heavy selling pressure, but its marketing lead, Lucie, remains confident, calling it the foundation of an expanding ecosystem.
- Despite market downturns and whale sell-offs, trading volume surged 34%, sparking speculation about SHIB’s long-term growth potential.
Shiba Inu (SHIB) has been facing intense selling pressure as the broader crypto market has recently experienced a bearish trend. The downturn has threatened SHIB’s standing among the top 20 digital assets. However, Shiba Inu’s marketing lead, Lucie, remains firm on the project’s significance, issuing a strong statement that reaffirms its core identity in the crypto world.
In an update on X, Lucie emphasized that SHIB is not just another meme coin but the foundation of an expanding ecosystem. She reinforced this with a bold comparison:
SHIB is our BTC.
The statement reflects the team’s belief that SHIB holds a central position within its ecosystem, just as Bitcoin (BTC) does for the broader market. Beyond its role as a token, Lucie highlighted the broader Shiba Inu ecosystem, which includes BONE, SHIB, and Shib: The Metaverse.
“For me, that means everything—TREAT, BONE, SHEB, LEASH, Shiboshis, and Shib: The Metaverse,” said Lucie.
Market Pressure, Whale Sell-Offs, and Resilience
SHIB has been caught in the wider market downturn, and the price has faced sharp fluctuations. Lucie attributes this instability to “manipulation” rather than fundamental weaknesses in the crypto sector. At the time of writing, SHIB faced a 6.40% decline in the last 24 hours, with its price reaching $0.00001168. Lucie said:
The market was liquidated due to political fear-mongering and manipulation, but there’s no reason to stop—only to push harder,
However, trading volume saw a 34% gain, reaching 470 million in the same period. This spike has sparked speculation that large holders, often referred to as whales, may be returning to the market. However, on-chain data suggests that many major investors have been offloading their SHIB holdings, increasing the selling pressure.
One key indicator, the Large Holder Netflow metric, has turned significantly negative, signaling a wave of sell-offs. This activity has been a notable driver behind the asset’s recent struggles. Yet, despite whale movements, some analysts believe SHIB still holds strong potential for long-term growth.
Early Bitcoin Investor Weighs In on SHIB’s Future
Davinci Jeremie, a well-known early Bitcoin investor, recently shared his thoughts on SHIB’s prospects. “I like Shiba Inu,” he said in a video update. However, he tempered expectations, stating:
I think Shiba Inu is going to do relatively well in this cycle, but it may not go as high as you expect.
Jeremie, who gained widespread recognition in 2013 for urging people to invest even $1 in Bitcoin, pointed to Shibarium as a potential growth catalyst for SHIB. The layer-2 network provides low-cost transactions and an infrastructure for decentralized applications (dApps), which could significantly enhance SHIB’s utility.
Despite that potential, adoption remains limited. He described Shibarium as a network capable of hosting various applications at minimal cost but noted a lack of active users and practical use cases for tokens within its ecosystem.
