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The DeFi market has seen various digital assets rise and fall in value, with meme coins garnering significant attention. Among these meme coins, Shiba Inu (SHIB) has attracted many investors, but recent market trends have raised concerns about its performance and future outlook.
What Is Shiba Inu?
Shiba Inu is a decentralized cryptocurrency that emerged as an alternative to Dogecoin. It is an Ethereum-based ERC20 token featuring the Shiba Inu dog breed, also the mascot of Dogecoin. Launched in August 2020, SHIB has gained popularity among investors as a potential “Dogecoin killer” due to its rapid growth and dedicated community.
SHIB Takes A Bearish Turn
Recent trends have not been favorable for Shiba Inu investors, as the crypto industry correction has negatively impacted the token’s price momentum. As the value of many cryptocurrencies dropped, SHIB followed suit. According to CoinMarketCap, its current value stands at $0.000010, with a 24-hour decrease of 0.62% and a 7-day decrease of 1.67%. On-chain data reveals a significant reduction of 41% in Shiba Inu Network Growth since March 1, indicating that SHIB holders may be preparing to sell in the coming days.
This network growth reduction could imply a market share loss to other meme coins. If this trend persists, SHIB’s price may struggle to find new buyers, leading to a potential price decline. However, if SHIB can overcome the bearish trend and break the $0.000012 resistance zone, it may rally toward $0.000017.
While Shiba Inu faces uncertainty and bearish trends, it is important to note that not all meme coins are designed to be purely speculative. DigiToads, for example, offers a unique value proposition to investors.
TOADS – A Powerful Alternative with Unique Utility
DigiToads (TOADS) is a new ICO seeking unique utility and benefits for its users. By combining elements of digital art, gaming, and decentralized finance (DeFi), DigiToads aims to create an ecosystem that offers both entertainment and rewards.
The platform’s standout feature is its interactive Web 3.0 game, where players explore a virtual swamp with their digital creatures, the DigiToads. Represented as some of the coolest NFTs, each digital toad has unique abilities that enhance the gameplay experience. Players can train and improve their DigiToads by investing in equipment, food, and potions. Moreover, users can earn extra income by staking their NFTs, adding another utility layer to their investment.
DigiToads uses its native cryptocurrency, TOADS, as the primary mode of transaction. The presale for this exciting altcoin is ongoing, with a total supply of 585 million tokens. The first four presale stages have already raised over $1.7 million by selling over 149 million $TOADS tokens.
DigiToads’ unique tokenomics approach has earned it recognition as one of the best presale opportunities for crypto investors. The structured pricing increases during the presale phase alone could potentially result in a remarkable 450% value increase.
This sets DigiToads apart from meme coins like Shiba Inu, which rely heavily on speculation and external factors to drive their value. In contrast, DigiToads aims to establish a stable foundation and long-term growth by providing tangible benefits to its holders, reducing the risks associated with investing in more volatile and speculative cryptocurrencies.
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Final Notes
While Shiba Inu has garnered significant attention in the cryptocurrency market, its recent performance and bearish trends have raised concerns about its future outlook. The uncertainty surrounding SHIB highlights the importance of exploring alternative meme coins like DigiToads, which can offer rich utility and higher ROI opportunities.
For more Information on DigiToads visit the website, join the presale or join the community for regular updates.
*This article was paid for Cryptonomist did not write the article or test the platform.