Buy the D(R)IP!
Since the end of June, DRIP has been experiencing skyrocketing prices amidst a plunging crypto market after the Bitcoin retraction from $60k. The buzz around DRIP has been immense and many folks have jumped in and enjoyed the ride so far. But then DRIP dipped…
To the Moon
The price hiked from $40 through $50 in a day and everyone thought this was it — moon time and Lambos galore! We’d had successive announcements from the lead dev Forex Shark about a partnership with BeeFarm, new liquidity entering Pancake Swap along with all the exposure through charting, analytic, and promotional tools/platforms that pull data through PCS and then the last announcement for a strategic partnership with Focus Visual. Exposure of DRIP was going through the roof and so came the inevitable pull back.
Now the way the system works is that the majority of DRIP buyers will be depositing their DRIP in to the Faucet which then locks the funds. This is to enable the 1% daily return producing an overall 3.65x return which is ‘dripped’ back to you over the year. Due to the short term price action, there were a select few that where not depositing into the Faucet but instead holding on to them to then sell at a later date, taking the 10% sale tax hit. Therefore, a pull back in the price was expected at some point with people capitalising on high prices. This coupled with a dropping BNB price meant that DRIP price against the dollar suffered even more.
Then a wallet with 12K DRIP tokens sold off 9K which had the largest effect on price causing an overall drop from $55 to $31. I will add a note here that this particular holder had accumulated during the presale stage and never deposited in the Faucet. Now this guy has dumped a large portion of his bounty, this leaves no other presale whales in the mix so the risk of this happening again is virtually zero. Since all this action finished, DRIP stabilized and is now back on a normal trajectory, with the price up to $36 at the time of writing.
An advantage of this volatility is that we’ve essentially had a glimpse into the future! We now know that as the available supply reduced to 80k, the price almost hiked to $60 so demonstrated to us that the tokenomics work and provides massive confidence that normal organic growth will get us back there and beyond. Which is why buying now may be the best opportunity to get into DRIP because these prices may never to be seen again and you’d hope for at least a 2x minimum.
And remember, this price recovery is also happening with the promise of more partnership announcements and Coingecko/Coinmarketcap listing applications ongoing. The future looks pretty bright for DRIP.
Buy the dip!
Minimum Faucet deposit has just been reduced from 10 DRIP to 1 so now it’s even easier to get involved.
- Go to https://drip.community/fountain and exchange BNB for DRIP. You’ll need at least 1 DRIP if you want to deposit it later to earn the rewards.
- Enter a Buddy address in the Referral section. You can use mine if you’d like: 0xa1bF3D09D2F038622B5ABc90c678d4eA6820ac94
- Deposit at least 10 DRIP (Ensure you have enough BNB to pay for the gas fees.)
- Once deposited you’ll start to receive 1% daily.
DRIP Telegram Link — https://t.me/DRIPtoken_Chat
Cryptozoa Telegram Link— https://t.me/joinchat/PbTulqLoCmAzZmQx
DRIP Contract Link — https://bscscan.com/token/0x20f663cea80face82acdfa3aae6862d246ce0333
Nothing in this article is to be construed as investment advice. Neither the author nor the publication takes any responsibility or liability for any investments, profits or losses you may incur as a result of this information. The article may contain affiliate links.