Marketing Application in Crypto Investment - #Shib
Updated: Feb 14
In 24th May 2021, I decided to invest 500$ in #ShibaInu #Shib at the price of 0,0000081$, let's see how it will perform in the next wave! I will hodle it at least one year from now, until Elon Musk doesn't talk about #Doge anymore!
See my old post: https://www.holmesryan.com/post/marketing-application-in-crypto-investment-0004-shiba-inu
For several months, I noticed that Elon Musk's influence on Dogecoin's performance has diminished and its value started to decline since May 7th, 2021. Despite my initial belief that SHIB would make a significant rebound in the next waves, market indicators showed that it would decline like other tokens. I anticipate the decline will persist, so I chose to sell 50% of my SHIB at 0.00007157. I will continue to monitor the market before making any further decisions.
On 2nd Nov, I sold 30,864,197 tokens worth of 2,208 dollars, resulting in a profit of 784% (2,208 - 250)/250 = 784%.
I originally invested 500$ at 0.0000081$, so I'm happy with the outcome. I will wait for further market drops before making my next investment.
Cryptocurrency Investment Diary, 2nd Dec 2021.