US Senate Candidate Backs SHIBA INU to Reach $0.00003, Here Are the Possibilities

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Source: The Economic Times

US Senate candidate Shanon Bray has revealed himself to be a big SHIBA INU ($SHIB) proponent and backed the altcoin to reach $0.00003 soon. Bray changed the cover picture on his Twitter profile to a photo of a Floki smoking cigar representing SHIBA INU. He also claimed that if the altcoin manages to break past the key resistance of $0.00003, it will very easily reach an all-time high (ATH).

$SHIB is currently trading above $0.00002882 with little price change over the past 24-hours. The altcoin started October on a bullish note rising up to $0.000035 before facing rejection from the critical resistance and since then it has continued to consolidate under $0.00003. The altcoin managed to break into top-11 cryptocurrencies by market cap after it became a $13 billion asset leaving behind the likes of Litecoin during its 300% rally in the first week of this month.

Source: TradingView

The altcoin being a meme currency has a huge community backing which has only grown further in recent times. The first-week rally helped the altcoin delete a zero from its price as holders rallied behind the altcoin on social media after a five-month-long price slumber.

Watch Out For SHIBA INU Whales

The current bull market is being dominated by Bitcoin as the top cryptocurrency set a new all-time high a couple of days back. Historically, the $BTC price rise is often followed by a massive altcoin rally, and the meme coin is expected to reach new highs when the bulls take charge.

$SHIB whales have also played a part in the current market trend where first a massive 31.07 Billion token dump led to a price correction, $SHIB recovered from it soon after.  $SHIB whales have started accumulating again, and whenever that happens a massive price rally follows.

SHIBA INU community is discussing a lot of new developments for the altcoins including a token burn mechanism to make it deflatory and thus make the existing circulating supply more valuable.

An engineering graduate, Prashant focuses on UK and Indian markets. As a crypto-journalist, his interests lie in blockchain technology adoption across emerging economies.
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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