An official marketing expert of the SHIB team, known to the crypto community as @LucieSHIB, took to X app to share a few self-made recommendations on possible actions during a bear market, not only about SHIB but about cryptocurrencies overall.
She shared possible opposite reactions, sounding somewhat sarcastic while suggesting several things.
“Options to behave during a bear market, like now”
Lucie wrote that one way to behave now is be positive and give support to other investors and holders and to the dev teams of SHIB and other coins that one holds, to watch the market without stressing out, to enjoy the “rollercoaster ride” or at least keep holding, and not to look at the various negative things that are happening now. These were Lucie’s recommendations as to how to stay positive and dignified.
In a market like this, you’ve got a few options:
1) Spread positivity and support.
2) Stay calm and HODL.
3) Keep an eye on the market without stress.
4) Embrace the rollercoaster ride!
5) Spread toxicity and FUD.
6) Panic and sell.
7) Hold but don’t look.
8) Enjoy the ride!… pic.twitter.com/jyp0KSyEQb— 𝐋𝐔𝐂𝐈𝐄 | Summer of Shibarium (@LucieSHIB) September 7, 2023
The other way to handle the current bear market, in which Bitcoin, SHIB, Dogecoin and the majority of other cryptocurrencies are deep in a sea of red, is to “spread toxicity and FUD” and to panic sell, per Lucie’s X post.
SHIB burn figures in red too
While the SHIB price remains down in the $0.0000076 zone, the SHIB burn rate also remains down. Over the period of the last 24 hours, the cumulative efforts of the Shiba Inu community have helped to dispose of 24,721,116 SHIB meme coins in total.
Ten transactions have been made to dead blockchain addresses overall, with the burn rate dropping to the -47% level, according to the Shibburn explorer.
Burns helps to reduce the overall amount of coins circulating on the market, thus making a coin more scarce and raising the chances of its price going up in the future, when a truly big number of these coins gets burned, i.e., removed from circulation.
The burn rate has been low and in the red over the past two days this week so far.
