Anatomy of the current dip and if it’s a chance to buy low
At the time of writing (Late September 2021) DRIP has hit US$7.50 and it has been dipping for a while now.
These are my credentials if you’re wondering: I’m currently holding roughly 8000DRIP in 21 different wallets and participate in the Reservoir with currently 6.143 DROPS, which represents 4.35% of all the BNB staked in the liquidity pool. I bought most of my DRIP at $30 and $24.
I’ve got skin in the game.
Many people in the chat rooms are asking what caused this recent decline.
The answer is simple: More people were selling their drip than people buying it.
And a sustained selling spree often precipitates that other people follow and the selling magnifies.
DRIP has seen wild swings before, as have most cryptocurrencies. All Time Low was around US$2 and the All Time High was around US$58.
Naturally, the atmosphere in the main DRIP chat on Telegram has turned fairly quiet and despite a few upbeat Drippers claiming that “Yay, DRIP is drippin’!!” it feels all a bit forced, to be completely honest with you. Some have even taken to “shame” the sellers for selling this low and not understanding what DRIP is all about.
