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Why Are SHIB and DOGE Faltering? See Why Investors Are Flocking to RECQ for Profits
The post Why Are SHIB and DOGE Faltering? See Why Investors Are Flocking to RECQ for Profits appeared on BitcoinEthereumNews.com. Memecoins are having a meltdown amid a broader crypto market downturn. However, while trending memecoins like Shiba Inu (SHIB) and Dogecoin (DOGE) experience free fall, Rebel Satoshi (RECQ) takes the lead as the investors’ top choice for profits. Read on to learn how RECQ stands tall amid crypto market turmoil! Shiba Inu: The Top Memecoin On a Free Fall! After a slow start in early 2024, Shiba Inu’s native token, SHIB, skyrocketed in March to hit its yearly peak at $0.00004534. However, the enthusiasm was short-lived as SHIB started nose-diving in the months to follow. As of early August, the price of SHIB had dropped by over 70% since hitting its yearly peak. This sudden price decline disappointed investors who joined the bandwagon when SHIB shot up in Q1 of 2024. Interestingly, the consolidation phase is expected to continue for a while before the crypto memecoins spring returns to the market. Market Trends Memecoins, including Shiba Inu, are struggling to find solid ground in the current crypto market. SHIB, in particular, has experienced major price drops on daily, weekly, and monthly charts, raising concerns about its future. Alongside the price decline, SHIB has also seen a reduction in trading volume. Despite this downturn, there has been a striking increase in the volume of large transactions for Shiba Inu recently. Increase in Large Transactions for SHIB According to data from IntoTheBlock, on August 7, 2024, the volume of large SHIB transactions in the past 24 hours totaled 9 trillion SHIB, which is roughly equivalent to a staggering $119.82 million. These calculations only considered transactions worth at least $100,000 in SHIB, with 185 such transactions recorded. For comparison, the previous day’s turnover was just 1.53 trillion tokens, marking a whopping 588% increase in volume. SHIB is Down 21% on the Weekly Chart…
The post Why Are SHIB and DOGE Faltering? See Why Investors Are Flocking to RECQ for Profits appeared on BitcoinEthereumNews.com.
Memecoins are having a meltdown amid a broader crypto market downturn. However, while trending memecoins like Shiba Inu (SHIB) and Dogecoin (DOGE) experience free fall, Rebel Satoshi (RECQ) takes the lead as the investors’ top choice for profits. Read on to learn how RECQ stands tall amid crypto market turmoil! Shiba Inu: The Top Memecoin On a Free Fall! After a slow start in early 2024, Shiba Inu’s native token, SHIB, skyrocketed in March to hit its yearly peak at $0.00004534. However, the enthusiasm was short-lived as SHIB started nose-diving in the months to follow. As of early August, the price of SHIB had dropped by over 70% since hitting its yearly peak. This sudden price decline disappointed investors who joined the bandwagon when SHIB shot up in Q1 of 2024. Interestingly, the consolidation phase is expected to continue for a while before the crypto memecoins spring returns to the market. Market Trends Memecoins, including Shiba Inu, are struggling to find solid ground in the current crypto market. SHIB, in particular, has experienced major price drops on daily, weekly, and monthly charts, raising concerns about its future. Alongside the price decline, SHIB has also seen a reduction in trading volume. Despite this downturn, there has been a striking increase in the volume of large transactions for Shiba Inu recently. Increase in Large Transactions for SHIB According to data from IntoTheBlock, on August 7, 2024, the volume of large SHIB transactions in the past 24 hours totaled 9 trillion SHIB, which is roughly equivalent to a staggering $119.82 million. These calculations only considered transactions worth at least $100,000 in SHIB, with 185 such transactions recorded. For comparison, the previous day’s turnover was just 1.53 trillion tokens, marking a whopping 588% increase in volume. SHIB is Down 21% on the Weekly Chart…
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