What Does The Fox Say?
All the machines in the casino are breaking. I put a dollar in, I got car. I put a dollar in, I got a car.
If you guys haven’t been checking out the chat feature for Heretic Speculator, it was a busy week over there. Every Monday morning over the last several weeks, I’ve been sharing roughly 3 to 5 thoughts or things that I’m watching for the week. This week, there was quite a bit more than that. We had a subscriber-started thread, a thread focused on the Monero delisting, and about 11 charts that I shared with full heretics.
Admittedly, I still think Substack’s chat feature has a ways to go. I’d love to see more of a classic web forum interface where threads with new comments flow to the top (or bottom of the feed). But it’s what we have at the moment. I prefer this to attempting a Discord server again and trying to get you guys to follow off-platform. That seems silly since we’re all already here.
All this said, I’m not sure how interested you guys are in this kind of engagement but I think it can be beneficial. So if you have feedback, please share (good or bad!). Now, let’s get down to business.
ShapeShift Token
ShapeShift ($FOX-USD) is the crypto DEX that I personally use the most. The token for the application is the FOX token - not to be confused with Fox Corp FOX 0.00%↑ the company. Why do I personally use ShapeShift? I love the interface and seamlessness with DeFi. Also, it uses THORChain ($RUNE-USD) on the backend to swap between about a dozen different chains. The FOX token was one of my “Top Token Ideas” for BlockChain Reaction subscribers. At the time the coin price was about 4 cents.
This morning it almost hit $0.15. Friggin’ crypto, amirite?
So here’s the deal: I have absolutely no idea what is driving this action beyond the notion that it’s just a super small cap coin and someone somewhere decided it was time to pump it. I went to Twitter to see if there was any sort of announcement or new feature - nothing I could easily find. So then I went to Microsoft’s MSFT 0.00%↑ Copilot AI and asked it what the fox says.
Prompt:
Why did the ShapeShift FOX Token go up this past week?
According to Copilot:
The Shapeshift FOX Token (FOX) experienced a significant surge in value over the past week. Here are some key points to consider:
Bullish Sentiment: InvestorsObserver has assigned a very bullish rating to the Shapeshift FOX Token. As of Friday, the token’s price increased by 53.29%, reaching $0.07421. This positive sentiment suggests strong market confidence.
Recent Performance: Over the last five days, the Shapeshift FOX Token has consistently earned a Very Bullish rating based on the InvestorsObserver Sentiment Score. This score considers both volume and price movement. The token is currently trading near its five-day high of $0.0763, which indicates a robust performance1.
FOX Discounts: ShapeShift introduced a game-changing feature called FOX Discounts. This strategic shift in their business model aims to enhance token utility and improve tokenomics. By addressing profitability challenges, ShapeShift aims to ensure the sustainability and survival of the FOX Token2.
FOXy Supercharging: The FOX Token’s value has also been influenced by the concept of FOXy Supercharging. Through rebasing, FOX holders can compound yield without any additional effort. The DAO distributes rewards to the staking contract, increasing the ratio of staked FOX to outstanding FOXy tokens3.
Market Capitalization: The market capitalization for the Shapeshift FOX Token currently stands at approximately $14.9 million, with a trading volume of $1.47 million over the past 24 hours4.
In summary, factors such as bullish sentiment, recent performance, innovative features like FOX Discounts, and the FOXy Supercharging mechanism have contributed to the token’s upward trajectory. Keep an eye on further developments in the Shapeshift FOX Token ecosystem! 🚀🦊
Love the Fox emoji. That’s a nice touch. Taking all five of these Copilot points into consideration, I’d imagine point 3 is at least a small driver here as it gives the FOX token utility that it didn’t previously have. But gains chasing is likely why it’s moving. How I’m playing it? In the past, I’d take some profit on runs like this. These days, I’m letting it ride. If it gets to $0.30 maybe I’ll take the win.
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