Altcoins
SHIB Team Says: Altcoin Season Is Coming
Youri Molchan
A high-ranking member of the Shiba Inu team has made an optimistic statement to the SHIB community
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Team SHIB’s social media marketing expert, known to the community as Lucie, posted a tweet in which she delivered an optimistic altcoin message to the Shiba Inu army.
“Altcoin season is coming”
Now that Ethereum spot ETFs are about to start trading, Lucie believes this will be good not only for Ethereum but also for the price of SHIB.
Lucie shared a video ad made by BlackRock for the Ethereum ETFs spot that its iShares fund is launching. Lucie commented: “BlackRock is abandoning Ethereum ETF video for investors.
The SHIB team marketing expert believes that after 11 Ethereum ETFs start trading later today on exchanges, this significant event will gradually trigger an altcoin season, which will be beneficial for many altcoins, including Shibarium ecosystem tokens SHIB, BONE, LEASH, and SHEB. “THINK BIG – Altcoin season is coming,” Lucie tweeted.
Ethereum, which emerged in 2015 and was built by Vitalik Buterin along with other computer engineers, became the first launchpad for other cryptocurrencies and smart contracts – something that Bitcoin did not offer since all the mysterious Satoshi Nakamoto wanted to achieve was to create a decentralized P2P cryptocurrency after the 2009 mortgage market crisis, which hit banks and the global financial system hard.
Therefore, Ethereum’s massive expansion, its wider acceptance by Wall Street, the expected massive capital inflows and a corresponding price surge are likely to have a positive impact on the altcoin market – at least on the major altcoins, among which Shiba Inu (SHIB).
SHIB burn rate increases
Explorer Shibburn reported that over the past 24 hours, there has been a significant increase in the removal of SHIB meme coins from the circulating supply. Shibburn reports daily, weekly, and monthly Shiba Inu burns on its X account and website.
In the last 24 hours, according to this data source, the SHIB community has managed to eliminate 60,380,203 SHIBs. These burns have propelled the total burn rate up 482.88% compared to the previous day.
As for weekly destructions, so far, 135,026,217 Shiba Inu meme coins have been destroyed in a virtual oven over the past seven days. At the time of writing, SHIB is trading at $0.00001731, following the slight decline it faced earlier today.
About the Author
Youri Molchan
Yuri is interested in technology and technical innovations. He has been writing about DLT and crypto since 2017. He believes that blockchain and cryptocurrencies have the potential to transform the world in many areas in the future. He has written for many crypto media outlets. His articles have been cited by crypto influencers such as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.