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When a Sh*tcoin Like SHIBA INU Goes Parabolic, Don’t Lose Sight of Why You Bought Bitcoin

By ssaurel | In Bitcoin We Trust | 28 Oct 2021

While we were witnessing a massive sell-off on the major cryptocurrencies in the market on October 27, 2021, one crypto was largely outperforming the market. When I say outperformed, it is an understatement as SHIBA INU went into parabolic rise mode on October 27.

The price of SHIBA INU went from $0.000046 to $0.000088 in a few hours, an increase of +92%. Since the beginning of October 2021, SHIBA INU had a performance of +1,100%.

Since the All-Time High (ATH) of $0.000088, SHIBA INU has corrected logically, but its price is still around $0.000065.

Blinded by greed, investors flock to SHIBA INU

A certain euphoria was created around the SHIBA INU with many investors giving in to the FOMO (Fear Of Missing Out) sentiment. Yet, buying a cryptocurrency after an increase of more than 1,100% in less than a month is probably the worst time.

But when the fear of missing out on the next big opportunity takes over the market, investors lose control of their emotions.

It's all the more damaging because SHIBA INU is nothing more than a Sh*tcoin being pumped by powerful Whales who want to be able to make juicy profits at the expense of small investors. If you make the mistake of comparing the state of your portfolio to the performance of a manipulated Sh*tcoin like SHIBA INU, then you are taking the risk of giving in to your emotions.

In the cryptocurrency market, you will have projects every day that will have their price manipulated and therefore will pump fantastically. However, this does not mean that you should jump in and buy every single one of these projects, because they will dump quickly after the pump.

You must define a strategy and not let yourself be disturbed by Sh*tcoins whose price is manipulated by Whales

Your goal should be to define your strategy and then stick to it.

Are you in it to try to make the most money by taking the most risks like playing roulette at the casino in Las Vegas? Or are you there to enjoy the world of the future that is being built now?

I choose the second option. That's why I'm a Bitcoiner and continue to buy Bitcoin month after month. I have complete confidence in its monetary revolution that will change the world of the future for the better.

For SHIBA INU, I have serious doubts that this Sh*tcoin will allow you to take power over your money and get the freedom to live your life on your own terms. Because you should not have any illusions about SHIBA INU. The higher its price is pumped, the harder it will fall.

The later you enter the dance, the greater your losses will be.

There are many projects with stronger fundamentals than SHIBA INU that deserve your attention

Even if you don't share my view of Bitcoin, you have a whole lot more serious projects than SHIBA INU to invest in in the cryptocurrency world. Projects that may not have all the advantages of Bitcoin, but are still something much more serious.

It's up to you whether you want to take all the risks out of sheer greed or build your success over time in a smart way.

For those of you who have been watching the staggering price increases of SHIBA INU over the past few months, just remember that even if you bought $1,000 worth of SHIBA INU six months ago, it's unlikely you'd be a millionaire today.

Why? Simply because you would have sold long ago after you had already achieved an x5 or x10. So don't have any regrets, and just be happy that you took profits while leaving the trap of this Sh*tcoin that will soon cost the last entrants a lot of money.

SHIBA INU will never reach the price of $1. Keep it real

Finally, a word to those who are starting to talk about SHIBA INU reaching a price of $1 in the future. Look at the market cap of the SHIBA INU which is currently $39,237,208,438 at a price of $0.00006563.

Now do a quick calculation of the market cap of SHIBA INU if the price were to reach $1 while keeping the supply constant:

39,237,208,438 / 0.00006563 = 597,854,770,000,000

SHIBA INU would have a market cap of $597T ...

To give you a better idea of what this represents, the Bitcoin market cap is currently $1.1T. That of the entire cryptocurrency market is $2.6T. Gold's market cap is $11.3T.

Finally, the global wealth is currently $370T. As you can see, such an assumption is insane. Rather than fantasizing while listening to some, you'd better go back to the facts and the laws of mathematics. A simple rule of three will show you why SHIBA INU will not reach a $1 price.

Rather than being blindsided, the best thing to do is to go back to the reasons you bought Bitcoin (and even other cryptocurrencies more serious than SHIBA INU). This will help you keep a cool head and not fall into SHIBA INU FOMO.

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ssaurel Verified Member

Entrepreneur / Developer / Blogger / Author.

In Bitcoin We Trust
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In Bitcoin We Trust is a place where Bitcoin believers share their ideas about the upcoming revolution. Blockchain and cryptocurrencies are also covered in this publication.

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