thecryptobasic.com
A crypto pundit calls for patience among Shiba Inu proponents, spotlighting the time it took Dogecoin to rise to significant success.
Shiba Inu (SHIB) caught the attention of the broader crypto community following its meteoric surge in the 2021 bull run.
Launched in August 2020 by Ryoshi, SHIB quickly skyrocketed to become the second-largest meme coin by market cap. In doing so, Shiba Inu surpassed the expectations of many, including Ethereum founder Vitalik Buterin.
Shiba Inu Rich History
Its astronomical rise, which transformed a $12 investment to $1 million in just over a year, has triggered optimism of a repeat. Investors have become increasingly confident that Shiba Inu could replicate the 2020 to 2021 rally. This confidence is the product of multiple bullish projections.
One of the most ambitious targets for Shiba Inu has been the $0.01 price, a 72,468% surge from current values. Market commentator Luis “Del Crxpto” Delgado is one of the pundits championing this target. In a March disclosure, Del Crxpto suggested that SHIB hitting $0.01 is a certainty. He further called attention to Dogecoin’s comparable feat.
Moreover, in March, Lucie, a Shiba Inu marketing specialist, also expressed confidence in SHIB reaching $0.01. However, she confirmed that Shiba Inu is more likely to claim this price at a longer timeframe and not during the current market cycle.
Despite the confidence expressed by Lucie, Del Crxpto, and other analysts, some Shiba Inu proponents remain uneasy. Multiple investors have complained about SHIB’s inability to reach new heights, as it still trades 84% below the $0.00008845 peak of October 2021.
Pundit Calls for Patience
Del Crxpto directed his latest remarks to this class of investors. In a recent post, he pointed out that Dogecoin investors had to wait for six years before becoming millionaires.
Notably, following its launch in December 2013, Dogecoin largely underperformed, dropping from $0.00056 to $0.00009 by May 2015. DOGE did not hit any substantial value until 2018, when it spiked to a peak of $0.01877, nearly six years after its launch.
Del Crxpto leveraged this data to present a lesson to Shiba Inu investors. Notably, Shiba Inu is only four years old this year, but has delivered more gains than Dogecoin has in over 11 years. Most Dogecoin holders had to wait for six years before witnessing substantial gains in 2015.
According to Del Crxpto, the complaints among Shiba Inu proponents suggest that they do not have a realistic concept of time. The market commentator essentially advocated for patience.
In a separate disclosure, he revealed that he had witnessed the pattern currently demonstrated by Shiba Inu with Dogecoin. Del Crxpto confirmed that he is one of the investors that realized profits from Dogecoin. However, he revealed that he has now invested these profits in SHIB, expecting a similar uptrend.