SHIB has that pattern where the price jumps in short spurts then sinks -- this is usually indicative of a project that's running on marketing hype rather than product. It then becomes a game of chicken between who sells first. It's going to get nasty, imo.After it's initial pump in October, it stabilized for a few weeks, which one could argue is the *real* price point of $SHIB. But even then, everyone I knew who got into it had no plans of holding it long term, so it seemed tenuous to me, even back then.
It's kind of crazy because you see ads and bots for
SHIB all over the place now but it's "burst"-ness gets less effective every time. It's reached its peak, obviously. But if it dips below Oct levels we might see panic set into #crypto as whole. Hype cycles tend to do that.HODLers have nothing to fear since this can be an opportunity for them to capitalize on lower costs of coins that have more serious aspirations. But when Buffet says you'll see who doesn't have pants on when the tide goes out, this is what he means.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.