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Bearish days are some of the most troubling times in the digital currency ecosystem, and investors tend to lose faith during this period. Drawing on this, Shiba Inu Marketing Lead Lucie has shared some unique things community members can do to weather the current bearish storm.
Bear market to-do list
It is worth noting that bearish market days are often characterized by elongated days, wherein Shiba Inu ends the trading day down on the negative. At the time of writing, Shiba Inu has slumped by 0.34% in 24 hours and by more than 15% over the past week.
Alex DovbnyaAccording to Lucie, it is best for longer-term investors to stay away from the market. While away, the SHIB publicist said investors can try to focus on long-term goals. As a community, Shiba Inu’s long-term goal is to hit the one-cent price mark. To achieve this, a lot of SHIB needs to go off circulation through burning, with enough use cases added to the market.
Lucie also emphasized the need to educate oneself to get through the bear market. The executive advocated limiting social media exposure where fear, uncertainty and doubt (FUD) spread, while also pushing for portfolio diversification. Another intention is to stay connected with positive communities while practicing discipline.
When needed, Lucie noted that taking breaks is important, with users likely to do better when they reflect on past market cycles.
Brighter days triggered
As a financial market product, it is unlikely that Shiba Inu will stay down forever. With its strong correlation with Bitcoin (BTC), it is also likely to follow any bullish recovery the premier coin might see moving forward.
Shibarium, the project’s Ethereum-based layer-2 scaling solution also serves as a major catalyst to watch as Shiba Inu plots a pathway to recovery.
Tomiwabold Olajide
Dan Burgin
Vladislav Sopov
U.Today Editorial Team