Shiba Inu’s Lucie anticipates a November bull run while expressing caution amid the uncertainties of the US election.
Lucie, Shiba Inu’s Head of Marketing, hinted that November could bring major shifts in the cryptocurrency market, with the potential for a bull run. Lucie stated that despite the US election and the wider global political uncertainties, she remains optimistic about the chance of the crypto market going green.
Lucie laid out a strategy centered around Bitcoin dominance, which she expects to lead any potential market rally. Historically, when Bitcoin BTC $111 513 24h volatility: 1.1% Market cap: $2.22 T Vol. 24h: $55.96 B strengthens, it often sparks renewed interest across the crypto space, creating what many refer to as an “altcoin season”.
According to Lucie, once Bitcoin sets the pace, other well-established altcoins could experience a strong surge. Her personal approach reflects this outlook; she plans to focus on tokens within the Shiba Inu ecosystem, specifically Shiba Inu SHIB $0.000012 24h volatility: 2.9% Market cap: $7.33 B Vol. 24h: $215.59 M , Bone, and Leash.
In addition to these familiar tokens, Lucie also expressed support for a newer project, K9 Finance, a liquid staking platform launched on the Shibarium network. The platform allows users to stake their SHIB and BONE tokens while maintaining liquidity. Lucie further stated that she does not care much about the price as it can change so fast. She wrote:
“First, I expect BTC dominance to lead, followed by an altcoin bull run. My strategy is to load up on established tokens like Shib and Bone Leash Sheb — I’m also backing solid, well-supported project like K9 Finance. ( Shibarium Bonecrusher). I personally don’t care much about the current price, the shift could be quick.”
However, her enthusiasm comes with a caveat regarding new meme tokens. Lucie shared that she remains cautious about newly launched meme tokens, willing to risk only $100 on them due to their speculative nature.
In her view, the frequent boom-and-bust cycle of meme tokens makes them less appealing as long-term investments, with many failing to sustain interest after their initial launch. Instead, she recommends that investors remain vigilant, trust their instincts, and invest wisely in projects with solid foundations, such as those within Shibarium’s ecosystem.
US Election and Broader Market Sentiment
The US election has been a hot topic within the crypto industry as they hope for a candidate with the industry’s interest at heart. Some crypto analysts have predicted that the crypto price will spike to $100,000 should Donald Trump emerge victorious.
If Trump wins the U.S. election, #Bitcoin will teleport to $100,000!🚀 pic.twitter.com/pjszG7alRH
— Crypto Rover (@rovercrc) November 3, 2024
Crypto analyst Ash Crypto observed that Bitcoin price has never dropped below its level during US election weeks. For instance, on November 4, 2016, Bitcoin was worth $680, but by December 2017, it had skyrocketed to $19,666. With Bitcoin trading at $68,000, Ash believed that the coin’s price would hit $150,000 in a year.
Thus, many crypto users will focus on the outcome of the US election, which could decide what is next for the industry.
next