The soaring market position of the meme-based market does not only happen to the Shiba Inu token. But also on other tokens on the market and the most prominent one is the floki token because as a result of Elon Musk's tweet on Twitter about "Floki has arrived". And also on other tokens that use the same Shiba dog logo, there is also an increase which is enough to make the market shocked.
Shiba Inu as a token that is just a meme and is dubbed as a Doge killer, and can enter a large market capitalization makes some people shake their heads. In fact, if you see that this is happening by the actions of the SHIB whales, the Shiba Inu holders in large numbers and the movement of the SHIB whales then followed by retail traders who are commonly referred to as SHIBArmy.
There is something to watch out for in this happening. Where concerns about volatile market problems have a major problem effect on the number of people affected. Because of a single tweet, and the work of whales who profit from people who don't understand the real crypto problem. So it is necessary to be fully aware of any conditions that actually occur.
The tidal wave of crypto has indeed become a phenomenon because of the bubbles that can crawl beyond all predictions. But the movement of resistance should also be considered in the future about the problem of rising prices.
When a person is overcome by the forms of greed or fear that occur in the market, this can cause an overreaction which can also distort prices. Because greed and bubbles of an investment instrument can rise far beyond the fundamentals.
And on the fear side, a sell reaction can make conditions drag on. The possibility of pushing the price far below where it should have happened. So maybe this is what traders should know that both FOMO and Bubble should be wary of.
The best thing that can be taken is that you should make investment decisions based on sound objective criteria and don't let emotions take over. And it is also necessary to be able to diversify investments.
The condition of mass psychology in the market is not a new thing. This has actually happened for centuries based on the history of speculative market conditions that have occurred.
So when we feel we are missing out on profit opportunities, it is the most challenging and psychologically dangerous situation. So control ourselves by realizing that there are still thousands of opportunities in the market that we can find. It's better to wait for opportunities that haven't appeared than to force them to end up being lost in the end.
In a step that we can do by diversifying investments. We can take steps not to put all of our investment capital in one investment option.
We can do some other investments so that if one option falls, we still have a profit opportunity on the other option.The market action that took place a few days ago made a lot of traders scratch their heads. How can be like that?
The incident regarding the issue of the rise of the Shiba dog meme token is indeed enough to make the story behind the story. The tweet from the Tesla Boss is not one of the reasons why the Shiba Inu token can be so crowded in the market that happened a few days ago.