Which Crypto You Hodl Has Dropped The Most Since The Bear Market?
Looking back at October/ November last year when we had Bitcoin at its ATH, every other coin and token were doing just fine and it felt like a fanfare out here. Now, the market is down and so have most of our holdings but the reality is that this is really just a great opportunity to stack some more cryptos.
Before the crash, I sold a couple memecoins I had gathered over the past year to USDT because I was no longer certain about the market and particularly because memecoins had a chance of crashing really hard than other cryptos with real utility and real people. I've since kept some USDT which I do buy some crypto with every month using the Dollar average cost strategy.
Now, I didn't sell all my cryptos and I particularly held on to 3 memecoins because I had just invested in them and hadn't made profit.....still haven't made profit. They've crashed really hard in the past 6 months and with the circumstances surrounding them right now, I think it may have been better if I had sold them alongside the others that had given profit.
One of them in particular, Wakanda Inu, was one I fomoed into as a result of it's fame among my countrymen. It was so popular at its launch and I didn't buy because of the hype around it. I really didn't buy because I knew it was a wrong time to get in when some colleagues wouldn't keep quiet at how it was going to the moon and how its price was already x5 in just days since its launch.
Honestly, I initially didn't want to invest on this token because the token had a weird name, more like an unrealistic name (Wakanda Inu). The "Wakanda" aspect was obvious gotten from the movie, "Black Panther" and the "Inu" part was added to fit the Inu craze at the time. While other Inu tokens like Shiba Inu, Kishu Inu were based on real animals, Wakanda Inu was simply just fabricated to fit the Inu crypto hype but most people didn't seem to care. The hype was real and they got some good investors.
I waited for the price to drop if at all I was gonna buy so I don't miss out and yes, I did get a price that felt was a good time to buy. The token had dropped and was now at x3 of its launch price. I bought a little amount just incase the project went south and hoped to buy more if things were going fine.
As I make this post, my investment on the token has been divided by 6 (the dollar worth is one-sixth of what I invested) and it doesn't look like its gonna stop dropping anytime soon.
Everyone who hyped the project has been quiet lately for several reasons but its understandable as there has been a general crash in the market.
I've actually taken my mind off this token and would just leave it my wallet because at this point, the current worth isn't just it. Selling now would mean accepting defeat and losing entirely. This actually feels like a great time to back back in but I wouldn't do that as there are many more projects out there with great potentials and a really bright future.
But then, this is really just the life of everyone into cryptocurrencies and that's why it's always best to make our due research before investing and invest what only what we can afford to lose.
I'm still waiting to make profit off "Wakanda Inu"🧙♂️😌