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TL;DR
- SHIB and some other meme coins might be among the few to benefit the most if a white swan event were to occur in the world of finance, according to a team member.
- Some analysts believe Shiba Inu has reached a bottom and could be gearing up for a massive rally.
These Memes Might Thrive
The X account Shibarium Updates recently warned about the inevitable arrival of a white swan event that will most likely negatively impact the cryptocurrency sector. The team, however, claimed that investors holding Shiba Inu (SHIB) and other meme coins, part of its ecosystem, such as BONE, LEASH, TREAT, and SHEB, might be protected and could actually benefit.
“Because not everyone will ride it. Only the ones who stayed building in silence – and holding the right tokens,” the alert reads.
A white swan event refers to a relatively predictable crisis that is likely to send shockwaves throughout the financial and crypto markets.
On the contrary, black swan events in all financial markets, including crypto, come out of the blue and usually cause major setbacks. The self-proclaimed Dogecoin-killer (Shiba Inu) has not been immune to such incidents. In May 2022, for instance, its price saw a substantial drop following the collapse of Terra (LUNA) and its algorithmic stablecoin (UST).
A similar downtrend was observed in November 2022, when the once-prominent crypto exchange FTX experienced a liquidity crisis and was unable to honor its clients’ withdrawal requests. Shortly after, its problems intensified, and its former CEO, Sam Bankman-Fried (SBF), resigned while the company filed for Chapter 11 bankruptcy protection.
SHIB’s Next Potential Targets
Despite plunging by almost 20% on a monthly scale, Shiba Inu remains the subject of optimistic price predictions. Earlier this week, a popular X user claimed that the asset “is pretty much at the bottom” and appears to be approaching an important support zone.
“If it really hits that support, it’ll likely move sideways for a while before the next growth phase. Stay confident and keep holding or even buy more SHIB,” they added.
Prior to that, CryptoELITES opined that “everything is just getting started for SHIB,” envisioning a whopping 17x increase in the near future. Such a rally would position the price at an all-time high of roughly $0.00023.
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