[Shiba Inu executives joke about how to deal with the bear market guide]
In the digital currency ecosystem, a bear market is often the period that investors are most worried about because it can easily lead to a loss of confidence. In response to this, Lucie, Head of Markets at Shiba Inu, shared some steps that community members can take during the current bear market.
Bear markets are typically characterized by a long-term downward trend. Take Shiba Inu, for example. As of this writing, Shiba Inu is down 0.34% in the past 24 hours and over 15% in the past week.
According to Lucie's advice, long-term investors are better off staying away from the market. Outside of the market, Lucie suggests investors should focus on long-term goals. For example, the long-term goal of the Shiba Inu community is to achieve a one-cent price. Achieving this will require burning large amounts of SHIB to reduce circulation while increasing use cases in the market.
Lucie also emphasized the importance of educating yourself during a bear market. She recommends limiting social media use as fear, uncertainty and doubt (FUD) are often spread on these platforms. She also recommends portfolio diversification, staying connected to a positive community, and maintaining discipline.
Additionally, Lucie points out that it's important to take breaks when needed. Reflecting on past market cycles may better prepare investors for current market conditions.
As part of the financial markets, Shiba Inu is unlikely to stay in the doldrums forever. Since it has a strong correlation with Bitcoin (BTC), it will likely follow any bull rally in Bitcoin in the future.
In addition, the project’s Ethereum-based second-layer scaling solution, Shibarium, will also become a major catalyst worth watching, helping Shiba Inu embark on the road to recovery.
