Shiba Inu lead developer Shytoshi Kusama reacts to a SHIB buying strategy revealed by one of the earliest adopters of Bitcoin.
Davinci Jeremie, a Bitcoin proponent, remains bullish on Shiba Inu, as his advocacy for the canine-themed cryptocurrency persists amid current market realities. Known for his prominent YouTube video in May 2013 where he urged his followers to buy at least $1 worth of Bitcoin, Jeremie recently shifted his focus to Shiba Inu, making similar pleas.
The Crypto Basic has called attention to some of the remarks in which he urged investors to procure some Shiba Inu tokens. Davinci promoted Shiba Inu on multiple occasions in January, August, and October of last year. This year, he also called the public’s attention to SHIB in January, urging investors to “buy Shiba Inu.”
Bitcoin OG Reveals SHIB Buying Strategy
Interestingly, Davinci’s latest call to action takes a different shape, with the early Bitcoin adopter now discussing a buying strategy that market participants could leverage to enter the Shiba Inu market. In a recent video, he emphasized that SHIB had already pumped and yielded some profit but appeared to be going down.
Want to know my Shiba market projection? 📈🚀This bull run is looking hot! 🔥
Shiba's rising, let's make some money 💸💎 pic.twitter.com/uJJZPKpuVB
— Davinci Jeremie (@Davincij15) May 28, 2024
In this remark, Davinci referenced Shiba Inu’s remarkable price upswing from February to March this year. SHIB spiked from $0.00000967 on Feb. 26 to a local top of $0.00004567 on March 5, marking a 372% increase in a week. With this upsurge, $10,000 in SHIB surged to a worth of $47,228, bringing in a profit of over $37,000.
Davinci referenced this massive profit ratio but confirmed that Shiba Inu has now begun shedding off the gains picked up in the earlier rally. Interestingly, the internet personality presented a chart that suggests that Shiba Inu is trading within a descending parallel channel amid the ongoing correction.
According to Davinci, a breakout from this channel would lead to another impressive price spike. He noted that such a breakout could occur when Shiba Inu conquers the $0.000025 or $0.00003 price territory. His initial target for when this occurs is the $0.00006 zone, a level market analyst SHIB Knight has also called attention to.
The chart from Davinci Jeremie suggests a buying strategy below the $0.000025 and $0.00003 price territories. Shiba Inu, the lead developer, responded to the recent disclosure with a Dragonball meme, showing support.
https://t.co/JW9fuAQh3G pic.twitter.com/a95jzyNUSW
— Shytoshi Kusama™ (@ShytoshiKusama) May 29, 2024
Shiba Inu Breaks $0.000025
Notably, Shiba Inu has already broken above the $0.000025 price threshold. This breach came on the back of the recent uptrend which has seen it spike 17% in three days. SHIB is currently facing a correction after hitting $0.00002945 today in an attempt to record a breakout above $0.00003.
At the current price of $0.00002753, Shiba Inu is still below the pivotal $0.00003 level. As a result, market participants looking to enter the market still have an opportunity to amass more tokens at the attractive entry level. However, this should not serve as investment advice, as SHIB might not record as much rally as projected.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
