Shibarium Has Not Supported Famous Mem Coin
Layer-2 blockchain Shibarium that was launched on August 19 has not supported Shiba Inu mem coin very much. Its prices dropped by 3.2% since the beginning of the week. There are many technical indications that SHIB prices may go down to $0.000005 per coin.
The enthusiasm that was associated with Shibarium was over by the end of August. Prices were going down below $0.0000075 in September opening a path to a 30% drop. LUCIE, Shiba Inu’s top marketing strategist, even tried to support the new platform. She has also noted that prices of the mem coin are heavily to Bitcoin. “We first need to witness significant BTC price fluctuation. Once the fear of missing out (FOMO) sets in and new investors and money start flowing back, we will gradually see altcoins gaining momentum,” she wrote in a blog.
This looks rather sad, as many retail investors were buying at the peak of enthusiasm in August. Today more than 80% of investors are suffering losses. This is the largest number since May 2021. Retail investors were going out of the coin, while whales were still accumulating it. It looks more like a “Pump and Dump” strategy. And this is an absolutely wrong marketing effort.
Disclaimer:
The comments, insights, and reviews posted in this section are solely the opinions and perspectives of authors and do not represent the views or endorsements of RHC Investments or its administrators, except if explicitly indicated. RHC Investments provides a platform for users to share their thoughts on financial market news, investing strategies, and related topics. However, we do not guarantee the accuracy, completeness, or reliability of any user-generated content.
Investment Risks and Advice:
Please be aware that all investment decisions involve risks, and the information shared on metadoro.com should not be considered as financial advice. Always conduct thorough research, seek professional advice, and exercise caution when making investment decisions.
Moderation and Monitoring:
While we strive to maintain a respectful and informative environment, we cannot endorse or verify the accuracy of all user-generated content. We reserve the right to moderate, edit, or remove any comments or posts that violate our community guidelines, infringe on intellectual property rights, or contain harmful content.
Content Ownership:
By submitting content to metadoro.com, users grant RHC Investments a non-exclusive, royalty-free license to use, display, and distribute the content. Users are responsible for ensuring they have the necessary rights to share the content they post.
Community Guidelines:
To maintain a positive and respectful community, users are expected to adhere to the community guidelines of Metadoro. Any content that is misleading, offensive, or violates applicable laws and regulations will be subject to moderation or removal.
Changes to Disclaimer:
We reserve the right to update, modify, or amend this disclaimer at any time. Users are encouraged to review this disclaimer periodically to stay informed about any changes.
