I made the mistake of writing the opening letter at the beginning of the week. It started with the line “One week closer to the holidays and SHIB looks like it’s ready to start handing out gifts”. I don’t have to tell you how humorous that seems a week later. But that’s what happens. Things are rolling good, all crypto is looking like it’s ready to make another bullrun, and then the bottom drops out. The same thing happened after SHIB’s first all time high as well. We pulled back as China announced a ban on BTC mining, then we descended quickly for what seemed like ages, then we bounced a couple times off of support, only to have the bottom pushed down further a month later because of outside influences. Any time there’s news about crypto, it’s going to affect the market. There’s just no getting around it. At the time, many people sold at a loss and chased other tokens they thought would mitigate their losses. Only to find that those tokens weren’t media proof either. Those that held onto their convictions had to do so through 4 months of consolidation. SHIB would move up to $0.0000095 and then drop right back down to $0.0000069. It did this 5 times over those four months and each time people believed “this is it, here we go!” But that wasn’t the case. It wasn’t until October that resistance was broken and SHIB was able to move up to the next level. So, now, the same thing is happening to those new to SHIB. We’re only a month and a few days out from our most recent all time high. And being that it’s end of the year, it’s not likely we’ll see another bullrun until 2022. This is where your patience is tested. If you’re like me, you invested in SHIB with the intention of holding for years. So, this current downtrend means nothing on that scale. In fact, those that bought in high now have a chance to fill their bags with even more SHIB at such a discounted rate. Same goes for Bone and Leash, as well. There are too many catalyst set up for 2022 that anyone should be worried about the current price. Shibarium should be a game changer. Not to mention ShibaNet, SHI, and ShibaGames. So, with that in mind, this week we will shine as much of a spotlight as we can on Shibarium. What it's purpose may be and what you can do to prepare for it. With the current crypto market as it is, we'll learn about crypto market cycles and why this current dip shouldn't have you worried long term. I'll also be starting a new section in which we take a look at some of the tokens listed on ShibaSwap, unrelated to the SHIB project specifically. We'll cover a new one each week. Onwards and upwards, my friends.
-siflbabyshifero
Newsletter Index:
SHIB Ecosystem Weekly Update: Shiba In-dex
| SHIB | BONE | LEASH | Ryoshi's Vision | |
|---|---|---|---|---|
| Price | $0.00003594 | $1.73 | $1,556.67 | $0.00000049 |
| Market Cap | $19.7 Bn | $12.059 Mn | $249.6 Mn | $524.5 Mn (FD) |
| 7 Day Movement | -9.55% | -9.99% | -16.22% | -18.34% |
| Holders | 1,039,824 | 34,634 | 25,549 | 20,678 |
| Circulating Supply | 549.009 Tn | 6.975 M | 107,646 | 978.356 Tn (TS) |
| 7 Day Open | $26.807 Mn |
|---|---|
| 7 Day Close | $40.86 Mn |
| +/- Change | +$14.052 Mn |
| xSHIB Holders | 73,684 |
| tBONE Holders | 33,140 |
| xLEASH Holders | 12,454 |
11/29 - Kraken announces SHIB deposits and listing...