Alt season is upon us! BTC is range bound and alts are skyrocketing. Chief among them is SHR, ShareRing, which pumped by over 600% in just a month’s span and continues to hold strong — and thus may lead you to wonder … why?
Is SHR another fly-by-night operation? Or is it a genuine project getting ready to rock? You know the age-old saying in crypto: Don’t trust, verify.
In this article, we will verify. We’ll put pen to paper and verify the reasons behind the 600% pump. Then we’ll consider how much further the SHR moon lander will fly.
SHR Quick Overview
ShareRing is a tremendously ambitious project. They have a ShareRing App, ShareRing Shop, ShareRing ID, Stablecoin, Share Ledger, and token. How do they work? Are they worth it? You don’t have to take my word for it. Here’s Forbes columnist and NY Times Best Selling author, Joel Comm:
ShareRing was formed at the start of 2018 to create “an ecosystem for the rental economy.” Instead of focusing on one form of property—such as bicycles or mobile homes—any business or individual could use the service to rent out their goods. [ShareRing] will already allow people to find goods that they want to use and arrange a rental agreement with the owner. Of course, it’s all secured by blockchain.
Business Insider columnist, Simong Thomsen, verifies Joel’s words by adding:
ShareRing’s projects involve everything from vehicle identity, to history and data tracking, supply chain tracking, autonomous machine, and vehicle payments, and usage-based mobility pricing for vehicles — which also takes into account costs such as insurance, energy, congestion, pollution, and infrastructure.
All these features are integrated into ShareRing’s self sovereign ID and ShareLedger. In essence, when you get ShareRing, you get access to the world — seamlessly. Perhaps most exciting, in my opinion, is the fact it is geared toward “normal people” rather than just the crypto-savvy.
So, why the 600% pump?
Coinmarketcap shows us that ShareRing has traded below ICO price for quite a while. But, as the saying goes, you can’t keep a good man down.
Listen, COVID sucks. It’s taken a baseball bat to the kneecaps of economies and companies around the world. As bad luck would have it — ShareRing was one of the many affected. ShareRing had big plans for March 8th, 2020. They had all their ducks lined up: big release info, app release schedules, partnerships, and more. Then COVID came knocking.
ShareRing and its token, SHR, declined in price like every other crypto, stock, and commodity (even gold). The SHR team even had to make the painfully difficult decision to re-prioritize their development and release schedule accordingly. Some viewed the delay as defeat, others knew it for what it really was: coiling the spring for an even more forceful launch.
And that’s what just happened. Launch.
The greyhounds were let out of their pens. The floodgates burst open. You can’t keep big news at bay for long and when the dam opened, well, it flooded the news feeds.
The first of many highly anticipated announcements, long held back by NDA terms, have finally begun. Product releases, surprise announcements, new hires, new partners, new exchanges, a verifiable tidal wave of SHR information hit the airwaves. Here are just a few of the highlights…
- Product (soft)launch: ShareRing Shop announcement and pilot in Melbourne June 5th-9th. Launch plans were shared for expansion to all of Thailand, as well as Vietnam and London next.
- New CIO joins the team June 13th
- Surprise whitepaper announcement for “an open-source, federated AI module integrated into the Shareledger blockchain” Tim (CEO) Tweet/tease Jun 15th
- 3 massive hedge funds partnered (beyond funding) in 3 weeks:
– Alpha Sigma Capital (backed by LehmanBush, Bush family) Jun 18th link
– GDA Capital July 9th Tweet
– Alphabit (A fund with over 1 billion AUM) Tweet
- Tim Bos Tweeted: “we’ve got a few weeks of big announcements lined up. Each one will be bigger than the previous. Partnerships, new product releases, bigger partnerships, etc. #Iknowsomethingyoudontknow” Jun 20th
- Firebase integration announcement Jun 26th
- A 27-page research report from GDA capital declaring SHR undervalued by EBITDA by 0.14x July 3rd
- New website July 8th link
- New offices (Hong Kong, Thailand), new staff additions (Alan Kidd CIO, 3 Thailand junior sales, 3 new developers). July 3rd – 15th
- Educational content from TechTipsToGo
- My Top Altcoin link
- Quick Overview of the ShareRing App link
- Vechain & SHR Q & A Link
- Top blockchain companies for COVID link
- Crypto Q & A link
- ShareRing reaches $.01 link
- Several AMAs, all with great news:
– Altcoinbuzz June 4th
– Blockchain Brad June 29th
– Crypto Malaysia July 2nd
– Timestamp magazine July 9th
- ShareRing Official WeChat Account Tweet
Do you see how long that list is? I bet you didn’t even follow all the links. Textbook definition of a tidal wave of great news — all verified. Clearly this 600% pump is not only one for the record books, it’s also one with strong staying power. The hype is based on reality. It’s verified. It’s real. Which leads to our next question…
Where Will SHR Go From Here?
It’s reasonable to assume that after a 600% pump there will be a pullback. That is realistic, down-to-earth thinking. But will the pullback be big? Probably not. After a near-perfect fib retrace on the 61.8, SHR broke out of the bullflag pattern for another leg up.
Deep pullbacks follow pumps based on misinformation and unverifiable claims. ShareRing is a real business. The news that launched this rocket is real.
In fact, there could be more news just around the corner that, believe it or not, would only add more fuel to the afterburners. After all, Binance DEX, where you can currently purchase SHR, just added the new BUSD pair — as announced in a recent tweet — which many hodlers believe could signal a Binance listing in the future.
And as we all know, a coin proving itself on Binance DEX (which SHR has proven itself quite well) and then moving to the main Binance trading platform is a natural step forward. In addition to the several other imminent exchange listings, this will open SHR to trading by a worldwide majority of people, bots, and algorithms.
The bottom line is simple: ShareRing is verified.
Now it’s time for you to climb off the tip of this iceberg and begin exploring ShareRing for yourself. Dig into their Website, check out their ANN channel, and google around. Familiarize yourself with their ambitious goals and when you have a chance and bag some undervalued SHR up on the Binance Dex or Bitmart before the next pumps begin.