A popular crypto enthusiast expresses excitement about purchasing Shiba Inu (SHIB) at a discounted price following the latest market downturn.
The broader crypto market experienced one of its biggest downturns in recent times. Shiba Inu had its fair share of the dip, with its price crashing 30.27% from an intraday high of $0.00001764 to a low of $0.0000123.
While the latest dip saddened many investors, others saw it as an opportunity to grow their SHIB holdings. Famous crypto enthusiast Thom Sieloff was among the Shiba Inu investors who took advantage of the latest dip to buy more SHIB.
Sieloff took to X to disclose his recent purchase, expressing disbelief at how the price of SHIB crashed to $0.000011.
Expert Ready to Ride with Shiba Inu to the Moon
Following his accumulation, Sieloff echoed that his ‘bags [are] packed and heading to the moon,’ indicating his bullish outlook for Shiba Inu. The user attached a GIF to the post, showing an astronaut riding on a rocket to the moon, reflecting his readiness to ride with SHIB to higher targets.
This implies that Sieloff expects SHIB’s price to spike significantly in the future. In the meantime, SHIB has rebounded above the $0.000014 mark. CoinMarketCap data shows that SHIB is trading at $0.00001407, down 20.19% over the past 24 hours and 42.05% in one month.
Investors Remain Optimistic About SHIB’s February Performance Despite Recent Dip
Amid the recent downturn, 835,440 blockchain addresses holding SHIB, representing 58.08% of all on-chain addresses, are at a loss.
Also, about 581,900 addresses (40.45%) are profitable, while the remaining 1.47% (21,080 addresses) are neither profit nor loss but at breakeven.
Despite the recent dip, many are hoping that Shiba Inu ends the month of February in green, as it has in past years. Data from CryptoRank shows that Shiba Inu has historically experienced growth in February.
For instance, in February 2022, Shiba Inu registered a growth rate of 20.3%. Meanwhile, SHIB’s price spiked by only 1.59% in February 2023 but registered a 41.23% uptick in February 2024.
Currently, SHIB is down 25% month-to-date, bringing its February average average growth rate to 9.56%, with a 10.9% median.
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.
Source: https://thecryptobasic.com/2025/02/03/shiba-inu-at-0-000011-why-this-expert-is-buying-more-and-predicting-a-moonshot/?utm_source=rss&utm_medium=rss&utm_campaign=shiba-inu-at-0-000011-why-this-expert-is-buying-more-and-predicting-a-moonshot