Is Shiba Inu (SHIB) on the Verge of a Bull Run?

Shibarium’s Marketing Strategist, going by the handle LUCIE on X (Twitter), is among the people who believe the price of Shiba Inu (SHIB) will soon head north.

Previously, the developer urged investors to ignore media propaganda and fake news (also known as FUD) and keep their trust in the memecoin’s future advancement.

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‘SHIB Represents the People’

LUCIE’s most recent X post was focused on Shiba Inu’s native token, specifically its chances to skyrocket in the foreseeable future. 

They believe SHIB will enter a bull run since it speaks for the “goodness” which eventually “prevails.” In addition, the developer argued that the memecoin is fully decentralized and “represents the people.”

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Most X users commenting below the post were supportive of the thesis. However, some suggested the Marketing Strategist uploaded such a statement, hoping for SHIB’s price increase, which will benefit them and all Shiba Inu investors. 

LUCIE rejected that assumption, saying the valuation of the memecoin could not be affected by individuals due to its decentralized nature.

“If I were to leave or even the developers, it wouldn’t change the fact that SHIB will continue to exist. It’s a fully decentralized token and operates independently of us. We are merely supporters, as Ryoshi said, ‘Do what you can.’ Investing in BTC doesn’t make you an investor in Michael Saylor’s ventures, right,” the developer explained.

What Could Drive SHIB’s Price up?

Speaking of Shiba Inu’s future valuation, it is worth observing what the world’s favorite AI – ChatGPT – has to say. As CryptoPotato reported, it predicted that the positive price performance of the memecoin in the short term will depend on factors like favorable market sentiment, endorsement from influential figures, or overall community excitement.

The advancement of Shiba Inu’s layer-2 scaling solution – Shibarium – could also play a role. The network, which officially went live at the end of August, has already smashed some records. The total number of transactions on Shibarium exceeded three million, while the overall number of wallet addresses currently stands at over 1.25 million.