SHIB has been lowered its floor. This is a good opportunity to buy into the coin. However, how did we get here and why are burns not working? This is really foe the new qnd those that are not well verse in its history. Many factors have added to the downward turn of the coin. We can contribute the current US economy as a large factor as the stock market has trended downward. We can, also, make the case that BTC qnd ETH have led the way for a crypto winter. General FUD has not helped either. However, let’s look at people that own the coin. We have actually seen an uptick in ownership from 6 months ago. Yet, the coin still has fallen. It is small purchase when the coin was at a high that has kept these users locked to the coin. While doing so, large whales have pulled out. The case for whales to pull out is actually one of positivity. The threat of large pull outs with a diamond hand mentality leaves SHIB vulnerable to huge volatility. Day traders will tell you that you only make a profit or a loss when you sell. With news coming this week and a few of the projects and burns finally getting up and running, we could see a small uptick. However, until we start seeing volume and investors added, we will only be stagnet. So where do we go from here? The devil need to create a marketing campaign much like BTC qnd even Doge did. With this marketing campaign, more lobbying needs to be done to promote SHIB as a stable coin. This will also take some huge supply reductions. Even as much as a 80-90% available supply burn. We just have to much of a supply. The supply needs to be around 1T and market cap needs to at least be 15B for the coin to really begin gaining steam. Remember, the coin was at 8 times the marketcap than it is now when it rose. What are your thoughts?
submitted by /u/IllustriousPrint2006
[link] [comments]