I am not worried about Shiba Inu ‘FOMO Rally’: Peter Brandt

Please fol­low and like us:
Pin Share

Vet­er­an trad­er, chartist, and CEO of Fac­tor LLC, Peter Brandt recent­ly respond­ed to a Tweet telling him to not miss out on Shi­ba Inu (SHIB). Brandt replied that he does not wor­ry about miss­ing a break­out. Accord­ing to him, peo­ple who wor­ry about miss­ing a break­out, usu­al­ly tap out because they give in to FOMO (fear of miss­ing out). In the end, Brandt added, “FOMO kills.”

The user who asked Brandt to not miss out on Shi­ba Inu was in fact reply­ing to Brandt’s Twit­ter poll on how low Bit­coin (BTC) would decline before the next bull run. A major­i­ty of peo­ple (41.5%) vot­ed that it would reach $12k.

More­over, 30% of peo­ple were of the opin­ion that the low has already been estab­lished. 19.3% think BTC would reach $8k, and 9.2% think there will nev­er be anoth­er bull run again. 

Will Shiba Inu break out soon?

Shi­ba Inu is undoubt­ed­ly one of the most pop­u­lar cryp­to projects out there. More­over, the project has a pletho­ra of releas­es lined up for lat­er this year. The near­est one is the launch of their upcom­ing game titled, Shi­ba Eter­ni­ty. The game is set to release world­wide on the 6th of Octo­ber. The hype around the col­lectible card game is big, and Shi­ba Inu fans can’t seem to wait to get their ‘paws’ on the title. 

The SHIB team is also work­ing on their layer‑2 pro­to­col, called Shibar­i­um. Many expect Shibar­i­um to launch some­time this year as well. Ini­tial reports said that the L2 would be ready for launch in Q3, how­ev­er, the team seems to have missed that dead­line. Nonethe­less, as per reports from the devel­op­ment team, work has pro­gressed sig­nif­i­cant­ly, and we can expect the doc­u­men­ta­tion to release very soon. 

With so many launch­es lined up, one would think SHIB’s price would break out very soon. How­ev­er, the mar­ket in gen­er­al is in a bear­ish phase. Inter­est rates are on the rise and hence invest­ments into dig­i­tal assets, like cryp­to, are low. For SHIB to start mak­ing moves on the chart, the eco­nom­ic struc­ture will have to pull out of its cur­rent slump, which does not seem like­ly any­time soon. 

At press time, Shi­ba Inu (SHIB) was trad­ing at $0.00001109, down by 0.7% in the last 24 hours. 



Source link

Please fol­low and like us:
Pin Share

Leave a Reply

Your email address will not be published. Required fields are marked *