BIBI is building up a head of steam!
【Price Consensus】
Prices in the market are determined collectively by traders. For instance, about ten years ago in 2013, the price of Bitcoin fluctuated around $100 for the entire year. Back then, there were only around a dozen cryptocurrencies available for trading, and now only two have survived: Bitcoin and Litecoin. Bitcoin, although being the market leader at that time, was far less known than it is today. The consensus regarding its price was around $100.
As more people began to learn about Bitcoin, its price volatility increased. This is because, at the time, everyone had different perceptions of Bitcoin’s intrinsic value; some considered it high, while many thought it was too cheap. Eventually, the free market reached a consensus price.
A late investment legend, known as the Father of the German securities industry, André Kostolany, once said that 90% of short-term fluctuations in the stock market are influenced by psychological factors, while the remaining 10% are influenced by fundamentals, which are key to the long-term performance of the stock market. This principle is similarly applicable in the cryptocurrency sphere. As more people become aware of Bitcoin, its believers increase, and consequently, the price rises until everyone feels it’s too expensive, and they’re unwilling to buy at that price, causing a drop in value.
Each peak of a bull market becomes the low point of the next bull market. Cryptocurrencies with strong fundamentals can sustain higher prices, while those lacking sound fundamentals are usually eliminated from the market. Only the valuable cryptocurrencies survive, while weaker ones are weeded out.
【The Price Consensus of BIBI】
BIBI has only been on the chain since May, which is not a long period of time, especially for a cryptocurrency without a project team. However, these six months have been a crucial period. Whether there are enough people willing to continue building the project and if the community can withstand the test of time to continue functioning are important observations during this period.
Apart from the initial listing phase that attracted a lot of community members and drove the price up, after the euphoria ended, many lost interest or were disappointed with the coin’s performance, choosing to leave the community. Only recently, with a significant surge, a new group of holders have been attracted back in. Also, many early leavers have chosen to return to the community. This verifies what Kostolany said at the beginning: in the stock market, 90% of short-term fluctuations are influenced by psychological factors, while the remaining 10% are based on fundamentals.
BIBI has maintained a low point for over three-quarters of the time since its launch, and this period was dedicated to laying the groundwork for its development. This has led to the recent exaggerated surge. Although the price has dropped significantly again in the past two weeks, the number of addresses holding the coin and the trading volume continues to increase.
If you think the incubation period of BIBI in these six months is already quite long, I can tell you about another coin that has been in incubation for an even longer period.”
【DOGE COIN】
Doge Coin took six years before its first major breakout. Considering that Doge Coin is currently among the top ten cryptocurrencies by market capitalization, using it as a reference might not be appropriate. Let’s look at another cryptocurrency, SHIB INU, also known as Shiba Inu Coin.
Shiba Inu Coin emerged as a meme coin in the latter half of 2021 and is currently ranked 18th by market capitalization, totaling $4.8 billion. In mid-April 2021, its price was at six zeros after a decimal point. A month later, it removed two zeros, marking a 100x increase. Then, six months later, it once again reached an all-time high, doubling its price.
I’ve compared the historical chart of Shiba Inu Coin with the recent trend of BIBI below. While past data cannot be replicated, history often repeats itself. Perhaps, this can serve as a reference or insight.
We don’t have a God’s-eye view, so we can’t determine whether BIBI at present is in the early stages or reaching a pivotal point. However, it’s certain that BIBI is currently in its very early stages, and there remains considerable room for growth in the upcoming bull market.
The above content is extracted from the YouTube video titled “Searching for the Next Potential Meme Coin.”
The links of $BIBI community are as follows:
Contract address : 0xFE8bF5B8F5e4eb5f9BC2be16303f7dAB8CF56aA8
BIBI Website : bibibsc.io
BIBI Telegram : t.me/BIBI_Global
BIBI Foundation Twitter : @BIBI_Foundation
BIBI Discord : BIBI Community