The return of the FOX
Updated
Shapeshift was originally founded by Erik Voorhees as ShapeShift AG, but then became the first company to decentralize and become a DAO.
Currently, Shapeshift is participating in the success of RUNE and the increasing move from centralized exchanges to decentralized exchanges after the collapse of FTX.
Shapeshift is a cool project by itself but there is another thing happening under the radar, to decentralize node data Shapeshift has teamed up with part of the RUNE team to spin off Arkeo. It will be a new project launched on Cosmos and a large part of the initial supply will be airdropped into the Shapeshift treasury. Arkeo is expected to be launched in Q1 2024. Given FOX's low market cap of around 15 million and the success of the launches on Cosmos and the good story and use case of Arkeo as a decentralized version of Infura, FOX seems to become a proxy play on Arkeo. Together with the hype around RUNE, the FOX should come back.
The chart shows a large round W bottom with some overhead supply around $0.04, but I am optimistic that it can be broken while undergoing a revaluation.
DYOR, it's an illiquid micro cap.
Currently, Shapeshift is participating in the success of RUNE and the increasing move from centralized exchanges to decentralized exchanges after the collapse of FTX.
Shapeshift is a cool project by itself but there is another thing happening under the radar, to decentralize node data Shapeshift has teamed up with part of the RUNE team to spin off Arkeo. It will be a new project launched on Cosmos and a large part of the initial supply will be airdropped into the Shapeshift treasury. Arkeo is expected to be launched in Q1 2024. Given FOX's low market cap of around 15 million and the success of the launches on Cosmos and the good story and use case of Arkeo as a decentralized version of Infura, FOX seems to become a proxy play on Arkeo. Together with the hype around RUNE, the FOX should come back.
The chart shows a large round W bottom with some overhead supply around $0.04, but I am optimistic that it can be broken while undergoing a revaluation.
DYOR, it's an illiquid micro cap.
Note
2.5x on this one. I guess we can set a mental stop in profit or sell half and keep rest for a freeroll moonshot, depending on risk appetite. Good luck.Note
entered revaluation phase
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