Shiba Inu marketing specialist Lucie has taken to Twitter to explain why the price of SHIB is relatively stagnant.
The low price of Shiba Inu (SHIB) has left many investors disappointed, as the token remains stuck below $0.000008. In the hours leading up to press time, Shiba Inu was trading at $0.00000785, up 1.7% over the past 24 hours.
According to data from IntoTheBlock, 81.81% of Shiba Inu investors are currently at a loss, while only 12.98% are in profit. Many Shiba Inu investors have continued to express their disappointment with the development across social media platforms.
Lucie Explains Why SHIB Price Is Low
Following the growing frustration, Shiba Inu community influencer Lucie took to Twitter to explain why SHIB is not “mooning.” For clarity, the moon is a colloquial expression describing a tremendous crypto asset price hike.
In a tweet today, Lucie acknowledged many complaints regarding SHIB’s price. Some investors have questioned why SHIB is not experiencing an upward trend, and others have urged the team to try to fuel the token’s price.
In response, Lucie explained that from experience, crypto prices are usually bearish around a year before the next halving event. It bears mentioning that the next Bitcoin halving is expected to occur in April or May 2024.
“Why no moon?!”
Dev do something 😵💫
Crypto prices tend to chill out around a year before a halving event because everyone's like, "Hmm, what's gonna happen? 🤔
During that summer, things may get a bit bearish, and folks might feel a bit down.
But don't worry! As we roll into… pic.twitter.com/SPcb0vR0it
— 𝐋𝐔𝐂𝐈𝐄 (@LucieSHIB) July 20, 2023
The Shiba Inu marketing specialist speculated that things would get more bearish in the summer, thus leaving many investors devastated.
Per Lucie, people’s mood will “brighten up” in Autumn and Winter, as “good news will start popping up like fireworks.”
“Remember, the crypto world is full of surprises, so no guarantees, but that’s been a little pattern we’ve noticed!” Lucie said.
Shibarium to Drive SHIB Value
Furthermore, Lucie assured Shiba Inu community members that the Shiba Inu ecosystem’s L2 scaling solution, Shibarium, is not a pump-and-dump scheme. She asserted that the technology will record significant growth for years to come.
According to Lucie, Shibarium’s technological prowess can drive immense value and utility to Shiba Inu’s ecosystem tokens, including SHIB, LEASH, and BONE.
Notably, Lucie urged Shiba Inu’s community members to prepare for the “long run” as exciting times may be on the horizon.
Meanwhile, the much-anticipated launch of Shibarium is expected to take place later this year. According to Shiba Inu’s lead developer, Shibarium may be unveiled at the Blockchain Futuristic Conference scheduled for next month.
Interestingly, several investors are optimistic that the mainnet launch of Shibarium could propel Shiba Inu’s ecosystem tokens to surge. However, it remains to be seen whether Shibarium’s launch could pave the way for SHIB’s rally.