The Headlines read, “Shiba Inu might Never Recover,” Shiba Inu Down,” “SHIB the End.” And on and on. The funny thing is these articles fail to mention the market as a whole. The whole market is down. Some of you may be asking why is the market down? What is the reason? Is this really it? Is it over for SHIB? The answer is simple here is the reason… psychology.
Back in September, before the big October rally I put out a medium on market psychology. Today we are going to review this. Why? Because as humans we tend to forget. We get lost in the sea of red and fall for the FUD. We read the news articles with titles like I mentioned above. Or you read garbage on SHIB from the motley fool and take that as investment advice. It’s all opinion.
The Wall St. Cheat Sheet also applies to crypto. October was the euphoria. We’ve gone from complacency all the way down to Panic and capitulation.
For the above example I’ve compared the SHIB 1 day chart against the Market psychology image. Get the picture. I’ve circled in blue, red and purple the stages we have gone through since October. We are currently in the purple.
This cycle happened before back in May when SHIB reached its first ATH of .000038 and from there in plummeted down to .00000575. Everyone thought it was the end of SHIB. All through the summer the FUD was over the top.
But here we are again. October gave us new all times highs to .00008. That’s double where we were before. So you know we are going for the next rally?
It’s quite clear, we are going to hit .0001 and beyond. Once we get over this depression. Wait for the disbelief to sink in. You’ll thank me later.
So HODL. Don’t Panic. This is the market cycle. Understand this and you got your rocket ship in SHIB. Now is the best time to get in or improve your position. It’s time to accumulate and get ready for the next rally.
Q1 2022. Moon baby.
Keep it lit. 💎🙌🏼🚀
Note: do your due diligence. Don’t make financial decisions based on my charts. I’m not a financial adviser. Just a guy with an ukulele who loves crypto. With that own your decisions. I’m not responsible if you get rekt. Crypto is high risk and high rewards. Play at your own risk.