A prominent member of the Shiba Inu team has recently revealed several important factors that investors should consider in trusting a cryptocurrency during its price decline.
Shiba Inu Team Member 5 Significant Signs To Observe In A Token During Price Decline
On Sunday, November 26, Shiba Inu team member and marketing specialist Lucie took to X (formerly Twitter) to share an insightful message to the cryptocurrency community. The team member has given five significant signs to trust a token despite the price decline.
Naturally, the bear market had a disastrous effect on the values of cryptocurrency assets, such as Shiba Inu (SHIB). Due to this, many investors lose confidence and trust in several tokens in order to avoid great losses.
As a result of this, Lucie decided to share her optimism on this issue and help buttress investors’ belief in cryptocurrencies like SHIB.
According to her, the first sign to consider in trusting a token is the presence of a clear vision. She made the point that, in order to assess if a cryptocurrency has the ability to prosper in the long run, investors should take its long-term objectives into account.
Following the list, Lucie highlighted that the next sign to consider is community engagement on the particular crypto asset. This is because a good and strong community engagement acts as a support system to a token during its bearish period.
The Shiba Inu team member also pointed out active development as an essential sign to watch out for. Therefore, she urges investors to have faith in tokens engaged in active development.
She suggested that investors should find out if the token’s developers are active in any current projects. This is because active development increases a token’s usefulness, which encourages wider acceptance.
Real World-Use Cases And Fundamentals Bolster Confidence
Lucie also underscored trusting in a cryptocurrency asset that has real-world cases. She further suggested that individuals should consider a token’s adoption and partnerships, as this bolsters institutional interests in the token.
Meanwhile, the last sign highlighted by the Shiba Inu marketing specialist to consider is strong fundamentals. According to her, investors must evaluate a crypto asset’s technology, its use cases, and its team before trusting it based on its fundamentals.
Considering these five factors, the Shiba Inu team member pointed out a few tokens to watch out for in her X post, such as SHIB, BONE, and LEASH, as they present these five signs listed.
However, Lucie asserted that she mentioned these tokens because she supports them, but her signs still apply to all cryptocurrencies that present these significant signs.
SHIB trading at $0.0000084 on the 1D chart | Source: SHIBUSDT on Tradingview.com
Featured image from iStock, chart by Tradingview.com
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Author: Godspower Owie