The bear market presents the best time to buy or burn Shiba Inu, according to the SHIB project lead Shytoshi Kusama.
Here’s a closer look at what he said.
Bear Market Opportunities For SHIB
In a Twitter thread, Shytoshi Kusama first praised Shiba Inu holders’ resilience through these market conditions. “I know the market conditions are tough, but it’s amazing to see how #ShibArmyStrong is so true,” he said.
He then touched on the opportunities of the crashed SHIB prices. “During this bear market is the best opportunity for anyone to buy SHIB or burn SHIB,” Shytoshi said. “Ryoshi would say this, that the number doesn’t always go up, and that it wasn’t a bad thing.”
This is a common idea in the cryptocurrency market. Holders will boast about buying at a discount during crypto crashes, expecting the price to go back up. A Shiba Inu recovery does seem to be starting, with SHIB rising 4% in 24 hours, as the general crypto recovery continues.
SHIB holders have already spoken about the huge opportunities the dip provides for SHIB burns. Now that a more official statement from Shytoshi has endorsed such burning opportunities, those in the burning community may hope to see the burn rate increase.
On June 18, 366 million SHIB was burned, up from the 110 million SHIB from the previous day.
Aside from buying and burning, Shytoshi also teased holders about upcoming projects. “Things are moving well on all fronts,” he said. “Over the next few weeks, you will begin to see the things we’ve been working on come to fruition.”