Shiba Inu [SHIB] holders need these tips to sail through the crypto winter
Categories: Crypto News US
Well, the answer to this riddle is in the article itself- one needs to have patience and faith to reach that point. Likewise, the holders of the Shiba Inu ought to respect the law of HODLing. And, believe in the market conditions in order to maximize their returns.The canine token market has seen a majority of weak hands leave when the redistribution event was at its best. In fact, at the time of writing, 75% of SHIB holders were sitting in losses with crypto winter taking the center stage. Not to the investors’ surprise, various partnerships have been failing to push the token up on the price chart. At press time, the token was trading at $0.00001073, with an appreciation of 1% over the last day.Now, if your risk appetite is that of an amateur trader then taking a look at market cap and volume will help you analyze your entry points. Even though volume has spiked at irregular intervals after 13 April, market capital has continued to follow gravity. This certainly can’t be a good sign for the traders who are looking to make quick money. Moreover, it’s a well-known fact that while trading, ‘psychology’ plays an important role. It has faith as its main component. Looking at the social volume metric of the token, one can clearly understand that 21 April saw investors taking a huge interest in SHIB, perhaps believing that the price will appreciate. In fact, the meme token’s social dominance on that day stood at 5.79%. But, since the volume was waning, SHIB failed to impress its investors. By and large, the state of the SHIB ecosystem looks depressed at the moment. Unless the king coin recovers from its bearish slumber, SHIB can’t be expected to go paragliding since SHIB’s correlation with Bitcoin, at press time, stood at 0.98.Now to answer the riddle, just the way SHIB’s price charts are giving bald statements, the ‘man’ was also bald.