Today, SHIB is uncannily playing out similarly to the period of 5th October, when it rallied and then traded sideways for 2 weeks.
It took the bears 2 weeks to be exhausted, before the bulls reigned back control.
Can we expect SHIB to trade sideways? Sure. If there was capitulation, it'd already happen, but we are not seeing uber strong selling pressure to suggest so.
Could there really be enough spring for the bulls to continue an already insane rally from here -- assuming that we're going to enter a 2 week consolidation phase?
I'm not a huge shib fan, but i do hold a decent amount just for fun. Everyone (rightly, for now) makes the argument that shib will never near 1 penny - let alone one dollar- due to the outrageous marketcap that would entail with 589,661,922,679,275 coins. But what is the likelihood that some of these will be burned in the near future? That would change the game dramatically. Any sources on this?
googooboyy
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@Cryptograhm, There's no official WP to back this, but the idea has indeed been mooted within the close-knitted ShibaArmy. Word on the grapevine, a music playlist platform has offered to burn SHIB as part of operations, but again, don't quote me, until an official WP appears.
PtSp86
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nope. it needs to burn 60% of the supply. but 0.01 is possible
Goes up 87,000,000% .... "Yeah, but it's not going to a dollar loser!!"
Lol. Ok mate. Most people are happy with 100%. I'm enjoying 6,500% ... to 0.003 baby!
Anywho. Bitcoin dominance lowering, moving into alt season. My friend, SHIB, will rise even further in alt season.