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Ethereum Maxi Predicts This Altcoin Could Turn $10K into $1M

Albert Brown
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Ethereum Maxi Predicts This Altcoin Could Turn $10K into $1M

Neiro (NEIRO) has quickly risen to prominence, now ranking among the top 25 meme coins by market capitalization on the Ethereum blockchain. 

This is according to data from CoinGecko. The sudden surge follows its listing on major cryptocurrency exchanges Binance, Crypto.com, HTX, and OKX within the past three days. The token’s rapid ascent in market standing has been accompanied by notable price gains, positioning it as one of the top-performing meme coins despite the overall downturn in the market.

Further Growth for Neiro?

The attention around Neiro has triggered predictions from industry analysts who foresee a strong upward trajectory for the token. One analyst, using the pseudonym MoneyLord on X, highlighted Neiro’s narrative, comparing its potential to that of DOGE and SHIB, the two largest meme coins by market cap.

MoneyLord emphasized the opportunity for investors to see substantial returns, stating that an investment of $10,000 could yield over $1 million by year-end. However, market participants should not consider this investment advice, as the 9,900% increase required for Neiro to achieve this is not certain.

Meanwhile, the analyst also mentioned that if Solana-based meme sensation dogwifhat (WIF) reached a $5 billion market capitalization, Neiro could potentially surpass that mark, with projections of reaching $20 billion due to its narrative as Dogecoin’s “sister.”

A Shared Sentiment

Interestingly, another analyst known as The Crypto Kazi also expressed confidence in Neiro’s potential growth.

The Crypto Kazi pointed to Neiro’s strong chart performance, describing the token as the next SHIB or DOGE of this market cycle. During this analysis, Neiro had already surged to $0.1707.

Notably, Neiro’s impressive price growth has continued, with the token trading at $0.1914 at the time of this report. Over the past 24 hours, Neiro saw a 24.19% price increase, alongside a significant 459.41% gain in the last seven days.

This surge in price has been accompanied by an uptick in trading volume, reaching $73,625,789 within the same period. The momentum is expected to continue as more investors show interest.

Speculation Still Grows

Adding to its appeal, Neiro has previously garnered support from influential figures in the crypto space. Momin Saqib, co-founder of Web3Pak and Web3Works, discussed Neiro’s rapid rise in popularity on X, attributing the token’s success to its vibrant community and the backing of major exchanges. 

Additionally, in August, crypto whales reportedly increased their holdings in Neiro, with market maker Wintermute emerging as the largest holder, possessing 15 million tokens valued at $4 million. This backing has fueled speculation that Neiro may replicate the success of similar tokens previously supported by Wintermute.

Solana Targets $150 as Whales Accumulate Amid Market Recovery

Albert Brown
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0
Solana Targets $150 as Whales Accumulate Amid Market Recovery

With a rounding bottom reversal and rising whale interest, will Solana (SOL) soon top the $150 mark?

Over the past 24 hours, the crypto market has bounced back, with increasing chances for positive CPI data to be released on September 11. Amid the rising bullish momentum, the crypto market witnessed $127 million in liquidations, wiping out $93 million of short positions. 

In a recovering market, Bitcoin has reclaimed the $58,000 mark but is currently trading at $56,631, an increase of 2.89% in the past 24 hours. With the surge in Bitcoin prices, the altcoins are back in motion. 

Among the top performers, Solana is making a comeback with a 3.58% jump over the past 24 hours and is currently trading at $132. With a market cap of $62.345 billion, Solana ranks fifth in the broader crypto market.

Solana Bounces Off From $120

In the daily chart, the Solana price action reveals a bullish reversal from the $120 support zone by taking a lower price rejection at $120.58. Following a bullish weekend with a 2.16% and 1.89% jump, the momentum continues with a 3.81% jump on Monday. 

Solana Price Chart
Solana Price Chart

However, the Solana price struggles to surpass the 20-day EMA, resulting in a 1.20% pullback as a bullish exhaustion. Currently, a bearish intraday candle is visible in the 20-day EMA. 

The crucial daily EMAs remain bearish, with the 50-day EMA (yellow) teasing a death cross with the 200-day EMA (blue). However, the MACD indicator shows the MACD and signal line in the words of a bullish crossover.

Rounding Reversal For Solana

In the 4-hour chart, the sole price action projects a potential rounding-bottom reversal from the 23.60% Fibonacci level. By asserting dominance over the 20 and 50 EMA in the 4-hour chart, the recovery rally challenges the 100 EMA. 

Solana Price Chart
Solana Price Chart

However, an evening star pattern quickly halts the uptrend and delays the positive crossover between the 20 and 50 EMA. Nevertheless, based on the rounding-bottom possibilities, a bullish continuation above the 38.20% Fibonacci level at $141 will test the neckline at the 61.80% Fibonacci level at $160.

Polarizing Solana Whales 

In recent positive news, a Solana whale bought 34,807 Solana tokens worth $4.52 million earlier today. Since February 7 of this year, the whale has moved to self-custody around 207,000 SOL tokens worth more than $29 million.

The whale has withdrawn the tokens from Binance and MEXC exchanges at an average of $142. Following the purchase, the whale makes a smart move of staking 115,135 Solana tokens worth $15.3 million. 

However, another Solana whale has consistently maintained a selling spree on the opposite front. Today alone, the whale has sold 20,000 Solana tokens worth $2.66 million.

Since the start of the year, the whale has made a complete sale of 715,000 Solana tokens worth $102 million while maintaining a balance of 1.8 million SOL tokens staked, worth $246 million.

Crucial Levels For Solana

Based on the daily chart, the Solana price action reveals a struggle to surpass the 23.60% Fibonacci level at $137. A bullish breakout will lead to a price surge to the $150 psychological mark near the 38.20% Fibonacci level. 

On the flip side, a bearish turnaround will again test the $120 support. 

Shiba Inu Shares New Shibarium and Shiba Eternity Updates 

Lele Jima
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0
Shiba Inu Shares New Shibarium and Shiba Eternity Updates 

The Shiba Inu ecosystem team shares new updates relating to its L2 blockchain Shibarium and gaming project Shiba Eternity. 

The ecosystem’s marketing lead, Lucie, took to X to announce the updates regarding the cryptocurrency’s blockchain and Web3 game.

Shibarium Update 

According to Lucie, Shibarium approached a major milestone recently, nearing a 3-month high record in the number of deployed contracts. The Shiba Inu marketing lead noted that the development indicates a surge in developer activity within this timeframe. 

Data from Shibariumscan corroborates this claim, showing that Shibarium was close to hitting a peak not seen in three months in terms of deployed contracts. The data shows that Shibarium witnessed the deployment of 34 smart contracts on September 5, slightly below the three-month high record of 36 on July 25. 

Number of deployed contracts on Shibarium
Number of deployed contracts on Shibarium

This comes less than two weeks after the ecosystem team launched the highly anticipated Shiba Inu Developer Portal (ShibDev). As reported earlier, the platform provides developers with a comprehensive tool to streamline development activities on Shibarium.

Following the launch of ShibDev, more developers have shown interest in building on Shibarium, as reflected in the number of deployed contracts. In the meantime, Shibarium boasts a total of 17,653 smart contracts.

Shiba Eternity Update 

Furthermore, Lucie’s tweet also highlighted some updates rolled out to enhance the gameplay experience for Shiba Eternity players. Notably, the gaming team introduced three major updates, from bug to user interface (UI) fixes. 

The team identified and fixed several bugs, including loading screen issues, freezing on an opponent app when a player disconnects from a competition, and persistent ‘On Play’ effect for the Princess Andromeda card. 

Also, new leaderboards and a reward system were added to the game to improve the overall gaming experience.

This is not the first time that Shiba Eternity has welcomed major updates. In April, the gaming team introduced the first internal build to address card interaction issues and improve the game’s performance.  

The Web3 version of Shiba Eternity is currently in beta testing, which initially commenced for LEASH stakers on August 21. On September 5, the team expanded access to holders of Shiba Inu-related NFTs, including Shiboshi, Shiba Eternity Lore Collection NFTs, and SHEboshi.

There is no official date for open beta. In this phase, the general public can access Shiba Eternity without any requirement. 

XRP 540 Days of Ranging to End in “Mega Pumps,” Top Analyst Declares

Abdulkarim Abdulwahab
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XRP 540 Days of Ranging to End in “Mega Pumps,” Top Analyst Declares

The cryptocurrency market is closely watching XRP after the digital asset has spent over 540 days in a prolonged consolidation phase, according to popular analyst Egrag. 

On September 7, Egrag shared a graph illustrating XRP’s price movements since March 13, 2023. The chart painted XRP’s extended period of ranging between key support and resistance levels.

Specifically, Egrag’s analysis indicates that XRP has been trading in a defined zone, bouncing between accumulation levels, marked in yellow, and support areas, with the critical level of $0.3931 acting as a safety net. 

The analyst points out that XRP is “ranging” in this zone, showing no clear trend for more than a year and a half. This period of sideways price action could be a precursor to a significant breakout, according to Egrag’s chart, which shows a bullish projection with potential targets based on Fibonacci levels.

Potential XRP Price Targets

Notably, the chart forecasts a potential surge into bullish territory, with price targets set at $0.7399 and $0.9249. In this analysis, the most ambitious outlook is a move toward $1.4694.

This “bullish zone” is depicted in green, representing a potentially explosive breakout following XRP’s lengthy consolidation.

XRP chart by analyst Egrag

Weak Hands Don’t Deserve XRP Pump

Meanwhile, Egrag left a direct message to the XRP community. He stressed that those who sold out XRP during the lengthy period of discouraging price performance “do not deserve the massive mega pumps” set to come. 

It is worth noting that during these 540 days, during which XRP continued consolidating, other assets saw explosive gains. For instance, Bitcoin set an all-time high in March, while BNB did the same in June 2024.

In the meme con scene, FLOKi also cracked a new peak, while Shiba Inu reclaimed high levels last seen in 2021.

Essentially, during the extended periods of XRP’s price stagnation, its rivals experienced significant uptrends, while XRP failed to capitalize on the broader uptrend fully.

However, consolidation phases often precede significant moves as market participants build positions for the next trend. Encouraging patience, Egrag noted that those holding onto XRP during this accumulation phase will be rewarded with substantial gains once the token breaks out of its current range.

As of now, XRP is trading at approximately $0.5324. Egrag’s prediction of a “mega pump” aligns with the sentiment of many XRP supporters, who believe the downside risk for XRP is weakened.

Now, all eyes are on whether the token will make a decisive move toward the bullish levels highlighted by various analyses.

Bitboy Boldly Predicts Bitcoin Cycle Top at $146,641 Despite Ongoing Turbulence

Albert Brown
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Bitboy Boldly Predicts Bitcoin Cycle Top at $146,641 Despite Ongoing Turbulence

Experts continue to see substantial potential in Bitcoin, even as its price has experienced significant volatility in recent weeks, dropping from nearly $60,000 to under $53,000 by Friday. 

Although Bitcoin experienced brief recoveries last week, including a surge to $57,000, these gains were short-lived. The price then fell by over $4,000, leading to widespread market liquidations.

By the weekend, Bitcoin began to stabilize, hovering around $54,000. On Monday, trading saw a modest uptick, with the price rising above $55,000 for the first time since Friday.

Bitboy Targets $146K Bitcoin

Despite Bitcoin’s recent fluctuations, industry leaders have expressed bold predictions about the cryptocurrency’s future. Ben Armstrong, known as Bitboy, forecasted that Bitcoin could reach $146,641 in this cycle, though he did not base this figure on any specific analysis. 

Armstrong’s prediction arrives as Bitcoin begins to recover from previous losses, with a modest 2.6% increase on the day. To reach Armstrong’s target, Bitcoin would need to climb approximately 164.6% from its current price of $55,418.

Notably, Bitboy’s Bitcoin price forecast coincides with fresh predictions from analysts at Bernstein, who believe the outcome of the U.S. presidential election could greatly impact Bitcoin’s trajectory.

Bitcoin Price Forecasts if Trump or Harris Wins

Analysts at Bernstein have forecasted that the outcome of the upcoming presidential election could significantly influence Bitcoin’s trajectory.

Specifically, they suggest that if Donald Trump wins, Bitcoin might surge to an all-time high between $80,000 and $90,000 by the end of the year, owing to his favorable stance on cryptocurrencies.

In contrast, if Kamala Harris is elected, Bitcoin could face a substantial decline, potentially falling below $48,000 and even dropping as low as $30,000. This reflects concerns about her administration’s unclear position on cryptocurrencies.

Long-Term Bitcoin Projections

In addition to short-term election-related forecasts, some experts are making bold long-term predictions. Michael Saylor, founder of MicroStrategy, has projected that Bitcoin could reach $13 million within the next 21 years.

This forecast implies a staggering 23,417% increase from Bitcoin’s current price. Saylor attributes Bitcoin’s potential to its ability to avoid counterparty risk, envisioning it as a valuable global asset in the future.

Should Bitcoin achieve this target, its market capitalization could soar to $257.26 trillion, compared to its current valuation of $1.09 trillion.

Bitcoin ETFs Slip to $46B, Sparking Debate on TradFi Adoption Hopes

Albert Brown
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Bitcoin ETFs Slip to $46B, Sparking Debate on TradFi Adoption Hopes

Recent data indicates that Bitcoin Exchange-Traded Funds (ETFs) have experienced a notable drop in total assets, falling to $46 billion. 

This represents a significant decline since the start of the year when these funds reached a peak of $62.55 billion in early June. The rapid reduction in assets has raised questions about whether Bitcoin ETFs are truly delivering on their promise, particularly as some market participants had high expectations for these financial products. The reduction in assets has led to discussions among analysts and financial commentators.

Insights from ETF Analysts

Eric Balchunas, a senior ETF analyst, provided an interesting perspective on the performance of Bitcoin ETFs, responding to recent reports of the asset drop with humor. 

He acknowledged a slight decrease in assets but downplayed its significance by pointing out that the outflow, representing just 0.5% of the total assets under management (AUM), was not substantial enough to cause alarm. Balchunas further noted that net flows for Bitcoin ETFs have been consistently strong, with year-to-date flows standing at $16.8 billion, close to their highest recorded levels. According to him, the Bitcoin ETF market is still robust despite fluctuations in asset values.

Balchunas emphasized that the volatility in Bitcoin prices is a major factor contributing to the decline in ETF assets. He advised those covering Bitcoin ETFs to be cautious when interpreting data on asset levels, as lower prices can often lead to reduced assets. He also highlighted that the investor base for these funds remains stable, with the majority of investors maintaining their positions despite small outflows.

Institutional Holders Show Interest 

Another key point raised in the discussion was the presence of institutional holders in Bitcoin ETFs. Balchunas highlighted that Bitcoin ETFs, including the $IBIT ETF, have attracted over 1,000 institutional holders, with many large advisors and institutions holding a significant portion of these funds. This is seen as an indicator of sustained interest in Bitcoin ETFs, even as market conditions remain volatile. The growth of institutional participation signals the importance of these financial instruments in the broader market.

Despite these positive indicators, some analysts remain cautious. Jim Bianco of Bianco Research commented that Bitcoin ETFs have not yet become a tool for traditional finance adoption as anticipated. He suggested that more significant developments in on-chain tools like decentralized finance (DeFi) and NFTs could potentially drive adoption in the future, though this may take longer to materialize.

Bitcoin, XRP, and Shiba Inu Deposits Fall on Binance Amid Shift to Stablecoins

Abdulkarim Abdulwahab
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0
Bitcoin, XRP, and Shiba Inu Deposits Fall on Binance Amid Shift to Stablecoins

Binance, the largest crypto exchange, has recently published details concerning assets it holds for users in line with its ongoing transparency practices. 

This latest publication is the 22nd in the series of its monthly proof of reserve report concerning users’ deposits. The report highlights notable declines in crypto assets stored on the exchange between August and September.

Binance Bitcoin Holdings

As of September 1, Binance’s Bitcoin holdings for customers stand at 605,690 BTC tokens valued at over $33.44 billion, going by $55,200 per token. Its total Bitcoin holding, including customer balances, amounts to 647,106 BTC, resulting in a collateralized ratio of 106.84%.

Of this figure, 626,734 BTC are under the exchange’s watch, while 20,371 tokens are under third-party custody.

As of August 1, Binance’s customer Bitcoin balance was 613,470 BTC, worth approximately $42.4 billion at the peak value that month. The current figure represents a decrease of 7,780 BTC or a 1.27% drop month-to-date.

Regarding Ethereum, the amount held for users has declined more significantly, by 4.58%. As of August, Binance held over 4.7 million ETH tokens in customer deposits, but this figure has decreased to 4.48 million ETH, representing a decrease of 215,517 ETH.

Users Withdrew More XRP from Binance

Looking at other prominent altcoins like XRP, a notable decline is also observable in the number of tokens present compared to the first of August. As of September 1, Binance held approximately 2.756 billion XRP for users.

Meanwhile, on August 1, Binance held 2.93 billion XRP, reflecting a drop of 5.97%. This suggests that users withdrew more XRP from Binance in the past month, possibly transferring to other trading platforms or moving to self-custody.

Shiba Inu and Dogecoin Holdings

A similar trend is observed in the meme coin sector. Binance now holds 59.81 trillion Shiba Inu tokens, compared to 61.21 trillion in August, representing a decrease of approximately 2.3% in customer deposits over the month. Similarly, Binance’s Dogecoin holdings have decreased from 13.71 billion to 13.12 billion in one month.

Stablecoins and BNB

Interestingly, while deposits for volatile crypto assets have declined, customer deposits in the USDT stablecoin increased by 4.34%, rising from $21.19 billion in August to $22.22 billion in September.

It is also worth noting that BNB deposits on Binance also increased slightly by 0.42% from last month.

Image by Colin Wu

MicroStrategy Chairman Michael Saylor Sees Bitcoin Hitting $13,000,000

Lele Jima
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0
MicroStrategy Chairman Michael Saylor Sees Bitcoin Hitting $13,000,000

Michael Saylor, the co-founder and chairman of MicroStrategy, sets an ambitious target for Bitcoin (BTC), the world’s largest cryptocurrency by market cap. 

The MicroStrategy co-founder projected that Bitcoin could reach $13 million over the next 21 years. This suggests that the billionaire entrepreneur expects Bitcoin to trade at $13 million by 2045. 

Bitcoin to Represent 7% of World’s Capital 

Notably, Saylor issued the prediction during an interview today with CNBC Squawk Box. According to Saylor, Bitcoin will eventually represent 7% of the global capital, potentially driven by its potential of zero counterparty risk. 

To hit a target of $13 million, Bitcoin must surge 23,417% from its current price of $55,279. Should Bitcoin hit this target, the premier asset would have a market cap of $257.26 trillion, up 23,417% from the current $1.09 trillion valuation. 

Ambitious Bitcoin Prediction 

Saylor’s prediction of $13 million represents one of the most ambitious targets set for Bitcoin since its inception. As reported earlier, popular asset manager VanEck projected that Bitcoin could hit $2.9 million by 2050. 

The firm based its prediction on Bitcoin’s long-term prospects, especially its role in global and domestic trade. Furthermore, VanEck projected that Bitcoin could attract the interest of different central banks as they could hold 2.5% of their assets in the premier assets. 

Interestingly, Saylor expects Bitcoin to surpass VanEck’s prediction and hit $13 million within a shorter timeframe. 

Saylor Remains Bullish on BTC, Says MicroStrategy Beats all Companies Using Bitcoin Strategy 

Saylor has been bullish on Bitcoin since the firm first acquired the asset in August 2020. Ever since, the company has not looked back on its acquisition spree, purchasing over $8.3 billion worth of Bitcoin. 

Notably, Saylor emphasized that the company’s involvement in Bitcoin has been great, noting that the asset’s price has skyrocketed by an average of 44% yearly, significantly outperforming S&P’s 12% growth rate. 

According to Saylor, MicroStrategy boasts a return of 825% on its Bitcoin investment. Notably, he mentioned that the best-performing stock in the world, NVIDIA, has witnessed an increase of 821% in the same timeframe. 

“So we beat every single company in the S&P index using Bitcoin’s strategy,” Saylor remarked. 

Bernstein Predicts Bitcoin Will Hit $90,000 if Donald Trump Wins and $30,000 if Kamala Harris

Mark Brennan
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Bernstein Predicts Bitcoin Will Hit $90,000 if Donald Trump Wins and $30,000 if Kamala Harris

Analysts at Bernstein have predicted that Bitcoin would surge considerably if Trump wins and capitulate if Harris wins.

The dwindling gap in susceptibility to cryptocurrencies between Republican and Democratic presidential candidates Donald Trump and Kamala Harris has yet to influence the predictions of the $725 billion firm Bernstein. According to the asset manager, Bitcoin and cryptocurrencies will rally if Trump wins and dump if Harris wins.

Berstein’s Monday predictions asserted that Bitcoin would hit and surpass its all-time high of $73,000 and trade between $80,000 and $90,000 before the end of the year if Trump is elected. This is due to the former US president’s friendlier stance towards the sector.

Trump’s open promises to the crypto community have swayed their belief in him. He has repeatedly promised to attack the sector’s biggest hurdle: regulatory clarity. In his speech at the Bitcoin Conference 2024, he vowed to sack the Securities and Exchange Commission (SEC) boss, Gary Gensler, and adopt Bitcoin as a strategic reserve for the United States.

Bitcoin to $30,000 if Harris Wins

Analysts at Berstein stated that they see Bitcoin crashing below the August 5 $48,000 Bitcoin market capitulation to between $30,000 and $40,000. They cited Harris and her campaign team’s unclear stand on cryptocurrencies.

The asset manager noted that despite a recent development in the Harris camp, the crypto industry leaders feel more comfortable seeing Trump emerge as president than the current vice president. Reports made during the round last week showed that Harris is in contact with key players in the crypto sector to discuss possible headway for the industry if she is elected in November. The vice president even reportedly started accepting cryptocurrency donations.

However, the analysts believe that the crypto sector prefers a candidate with a more constructive policy than one who barely talks about the industry. Hence, they expect Bitcoin prices to react differently if either Trump or Harris wins.

Regulatory Bliss for Crypto Not Priced In: Analysts

Furthermore, Bernstein alleged that Bitcoin’s bullish potential if a pro-crypto candidate wins the November election remains latent. The asset manager sees an unreal upward trajectory for Bitcoin if Trump becomes the next president.

The crypto industry has suffered several setbacks due to the current administration’s lackluster attitude toward cryptocurrencies. Despite attempts by Coinbase and some members of the Senate to seek a clear regulation of the sector, their efforts have gone unnoticed.

Hence, Bernstein sees a Trump-led administration resulting in a blossoming crypto sector. The Crypto Basic reported that the asset manager sees Bitcoin hitting $20,000 by 2025 and a staggering $1 million by 2033.

Notably, hopes of a Trump win remain on course, as leading prediction firm Polymarket is forecasting a 52% to 46% Trump lead over Harris in the election polls.

Patience is Essential as Expert Cites Shiba Inu Life-Changing Gains

Lele Jima
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0
Patience is Essential as Expert Cites Shiba Inu Life-Changing Gains

Famous market watcher and Binance whale Bull.TRX recounts how a patient Shiba Inu investor witnessed life-changing gains on their SHIB investment. 

According to Bull, TRX, an unknown investor, purchased $8,000 worth of SHIB in October 2020, two months after Shiba Inu launched. A few months later, due to a massive decline in SHIB’s price, this investment dropped to $17.

Interestingly, after a few months, the value of the investor’s SHIB holding skyrocketed to $5.7 billion, marking a jaw-dropping ROI of 7,124,900%.

Significance of Holding 

Reacting to this development, the analyst noted that investors are unlikely to make such extraordinary gains from frequently buying and selling SHIB. This implies that the unknown investor made a remarkable profit by holding onto SHIB for a longer period, irrespective of short-term price fluctuations and volatility. 

Furthermore, they encouraged crypto investors to believe in Shiba Inu’s long-term potential and continue holding onto the asset until they record remarkable gains. 

Notably, Bull.TRX emphasized that life-changing gains are on the way, suggesting that patient investors who hold onto SHIB for the long term could register substantial profits that could change their financial status. 

Shiba Inu Traders React to Recent Dip 

The tweet follows a major downturn across the broader market, wreaking havoc on the prices of major assets, including SHIB. As reported earlier, Shiba Inu was one of the recipients of the recent downturn, having crashed below the $0.000013 price territory due to negative U.S. macroeconomic data. 

Expectedly, several investors hurriedly converted their SHIB to less risky assets like stablecoins, hoping to repurchase the token when the market stabilizes. 

However, Bull.TRX advises against this frequent buying and selling of SHIB, emphasizing that investors can only make life-changing gains by believing in the asset’s long-term potential. 

Most Successful Trade in History 

The highlighted story is characterized as the most successful individual crypto trade. Recall that Shiba Inu’s ecosystem team called attention to the trade in the fifth edition of its weekly magazine. 

Data from Etherscan shows the investor leveraged the dollar-cost averaging (DCA) technique to purchase 103.3 trillion SHIB from August 1, 2020, to February 2, 2021. Overall, the unknown investors acquired these tokens using $8,000 worth of Ethereum (ETH). 

After making substantial gains, the investor sold 33.13 trillion SHIB between February 17 and April 18, 2021, leaving the remaining 70.17 trillion SHIB in their wallet. The value of these remaining tokens surged to $5.712 billion on October 27, 2021, a day before SHIB registered an all-time high of $0.00008845. 

Can Shiba Inu Repeat This Feat? 

It is worth mentioning that Shiba Inu turned many average-income earners into overnight millionaires and billionaires. Notably, the dog-themed token achieved this feat without having any major project to its name. 

Currently, Shiba Inu has multiple projects within its ecosystem that could drive its adoption and position SHIB for a significant rally. These projects include Shiba Eternity, Shib: The Metaverse, ShibaSwap, Shiboshi, and SHEboshi, among others. 

Moreover, the recent launch of ShibTorch is also expected to bolster the number of tokens permanently removed from the circulating supply, thus increasing the value of the remaining ones. 

With all Shiba Inu-related projects expected to transition to Shibarium, more SHIB tokens will be incinerated using part of the network’s transaction fees. This could pave the way for a major rally, surpassing the records registered in the past.  

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