cryptonewsland.com
- Lucie believes Bitcoin will lead the crypto market before the elections.
- She warns investors to be cautious with new meme tokens.
- ShibaSwap’s launch may boost activity and value in the Shiba Inu ecosystem.
Lucie, the Head of Marketing for Shiba Inu, recently shared her insights about the potential movements in the cryptocurrency business due to the upcoming U.S. presidential elections. She noted that the political landscape often creates economic uncertainty yet sees a promising opportunity for a bull run. She anticipates that Bitcoin dominance will lead the charge, while renewed interest in altcoins may spark significant market activity in the near future.
Bitcoin’s Role in Market Dynamics
Lucie emphasized the historical connection between Bitcoin’s performance and the overall cryptocurrency market. When BTC gains strength, it often initiates what many refer to as “altcoin season.” This phenomenon leads to increased trading volumes and price appreciation for various altcoins as investors look for opportunities beyond Bitcoin.
November is set to be dramatic.
— 𝐋𝐔𝐂𝐈𝐄 (@LucieSHIB) November 3, 2024
With the U.S. election and global political shifts creating economic uncertainty, things feel shaky, but I still see a realistic chance for a bull run.
First, I expect BTC dominance to lead, followed by an altcoin bull run. My strategy is to… pic.twitter.com/sLMCNfGiZO
Therefore, Lucie plans to focus on established tokens like Shiba Inu and Bone Leash. She also supports initiatives within the Shibarium ecology, such as K9Finance, also known as Shibarium Bonecrusher. Her commitment to established projects comes from their potential for sustainable growth, especially during bullish market conditions.
Cautious Approach to New Meme Tokens
Although Lucie expresses optimism about established cryptocurrencies, she remains cautious regarding newly launched meme tokens. She limits her investments in this area and is willing to risk only $100 on such speculative assets. Many meme tokens generate initial excitement yet often fail to sustain interest or value over time, which poses risks for investors.
The advises those in the digital asset community to conduct thorough research before engaging with new meme tokens to help mitigate the risks associated with these speculative purchases.
ShibaSwap: A Relevant Development for Shibarium
A notable development in the coin’s framework is the recent launch of ShibaSwap on the Shibarium network. Originally developed on the Ethereum blockchain, ShibaSwap’s integration into Shibarium marks an essential milestone. This decentralized exchange aims to provide a marketplace for new projects while enhancing user engagement within the environment. The introduction of ShibaSwap is expected to increase transaction activity on Shibarium, which has seen stagnant daily transaction counts since April 20.
By facilitating more trading opportunities, ShibaSwap could revitalize user participation and attract developers to the platform. Furthermore, the increased transaction volumes on ShibaSwap could lead to the burning of SHIB tokens, which would help manage the circulating supply. This process may positively impact the token’s value over time while aligning with Lucie’s strategy for sustainable growth.