Amid the ongoing topsy-turvy scenario in the broader cryptocurrency market, Lucie, the market lead for Shiba Inu, has emerged with a reassuring stance. Notably, despite widespread unease over the plummeting prices in the digital asset sector, Lucie’s recent remarks have injected a dose of optimism into the SHIB community.

So, let’s take a look at the potential reason that might have triggered the recent market sell-off according to Lucie.

Shiba Inu Team Optimistic Despite Market Turmoil

The recent comment from the Shiba Inu market lead amid the recent crypto market selloff has captured the attention of both crypto enthusiasts and the Shiba Inu community. Addressing concerns of a potential sell-off, Lucie expressed a steadfast belief in the market’s resilience.

In a recent X post, the Shiba Inu exec stated:

“Dips and dumps will happen even in a bull market, especially before the Hong Kong ETF or any other ETF comes into play.”

This reflects her confidence in the forthcoming developments in the cryptocurrency landscape, particularly with the anticipation surrounding the approval of Spot Bitcoin and Ethereum ETFs in Hong Kong.

Besides, the outlook underscores the cyclic nature of market fluctuations and the strategic positioning of corporations and whales aiming to capitalize on buying opportunities. With the imminent approval of ETFs in Hong Kong, mirroring the success witnessed with U.S. Spot Bitcoin ETFs, the Shiba Inu team’s perspective provides a reassuring narrative amid the current market volatility.

In addition, her mention of the “SUPER CYCLE” hints at the broader trajectory she envisions for the crypto market, despite short-term fluctuations.

Also Read: GBTC Outflows Surge Past $16 Billion, Defies CEO’s ‘Equilibrium’ Comment

Hong Kong ETF Approval Sparks Discussions

The anticipation surrounding the approval of Spot Bitcoin and Ethereum ETFs in Hong Kong, slated for as early as April 15, has reignited optimism within the global crypto community, as well as in the SHIB community. Following the successful introduction of Spot Bitcoin ETFs in the United States, the prospect of expansion into the Asian market is met with anticipation.

Notably, this move not only signals a growing acceptance of cryptocurrencies but also opens new avenues for investment and market participation.

Meanwhile, the volatility witnessed ahead of the approval of U.S. Spot Bitcoin ETFs earlier this year serves as a reminder of the inherent fluctuations within the crypto space. However, the recent remarks from the Shiba Inu team offer a counterbalance to the prevailing apprehension, emphasizing the long-term potential of the market amidst short-term uncertainties.

As investors await the outcome of regulatory decisions, Lucie’s confidence serves as a beacon of hope, reassuring stakeholders of brighter days ahead in the volatile yet promising world of cryptocurrencies. Notably, the Shiba Inu price retreated 11.94% as of writing and traded at $0.00002433, while its one-day trading volume rocketed 164.45% to $1.19 billion.

Shiba Inu Price

Over the last 24 hours, the meme coin has touched a high of $0.00002776 and a low of $0.00002233, reflecting the ongoing volatile scenario in the crypto market.

Also Read: Coinbase Challenges SECs Authority On Crypto Transactions, Files for Interlocutory Appeal

The post Shiba Inu Team Ditches Concern Over SHIB Price Fall, Here’s Why appeared first on CoinGape.

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Filed under: News - @ January 1, 1970 12:00 am