Shiba Inu Declines As Caged Beasts Soar

Shiba Inu’s Decline

Shiba Inu (SHIB) gained widespread popularity as a meme coin, capturing the imagination of many cryptocurrency enthusiasts. However, despite its initial surge, Shiba Inu has experienced a decline in recent times. Several factors have contributed to this setback. The liquidity crisis faced by SHIB, coupled with low total value locked (TVL) and unattractive annual percentage yields (APYs) offered by liquidity pools, signal a lack of demand for SHIB as a liquidity provider (LP).

The liquidity crisis has manifested in the limited volume of tradable tokens, compromising SHIB’s stability. This lack of liquidity discourages potential investors and leads existing holders to reconsider their stakes. Moreover, the low TVL indicates reduced activity on the network, eroding investor trust in the potential yield of SHIB. The unimpressive APYs offered by liquidity pools further compound the problem, as providers are disincentivized to stake SHIB due to below-average returns.

Caged Beasts’ Potential as a Meme Coin

Amid Shiba Inu’s decline, a new player is emerging in the meme coin arena – Caged Beasts (BEASTS). This captivating crypto project brings a fresh and creative concept to the table, captivating investors with its intriguing storyline. The project revolves around Dr. Jekyll’s creation, Dr. Rabbit Hyde, who develops genetically mutated animals. What sets Caged Beasts apart is the dynamic journey unfolding during each presale stage. Investors witness the thrilling emergence of a new beast, starting as a humble newborn and growing into a formidable and ferocious creature.

Beyond its engaging storyline, Caged Beasts offers a lucrative referral program that incentivizes users to invite friends. Participants earn 20% of their friends’ deposits in popular cryptocurrencies such as USDT, BNB, or ETH, while their friends receive 20% of BEASTS tokens. This mutually beneficial system fosters an interactive and prosperous environment for participants, ensuring both growth and engagement within the Caged Beasts community.

Deutsche Telekom’s Support for Polygon Blockchain Infrastructure

In a significant development for the blockchain industry, Deutsche Telekom recently announced its support for the Polygon (MATIC) blockchain infrastructure. This partnership represents a major milestone in the adoption of blockchain technology by traditional companies. By integrating with Polygon’s scalable and secure blockchain ecosystem, Deutsche Telekom aims to leverage the benefits of decentralised applications (dApps) and enhance its existing services.

Polygon’s infrastructure offers efficient and cost-effective solutions, enabling seamless transactions and exchanges across various decentralised networks. With Deutsche Telekom’s backing, Polygon gains further credibility and exposure within the traditional business landscape. The collaboration also sets a positive precedent for other companies to explore the potential of blockchain technology and its applications beyond the realm of cryptocurrencies.

The cryptocurrency market continues to witness fluctuations and the rise and fall of various meme coins. While Shiba Inu has faced challenges in maintaining its momentum, Caged Beasts emerges as a potential contender with its captivating concept and lucrative referral program. Additionally, Deutsche Telekom’s support for Polygon highlights the increasing adoption of blockchain technology in traditional industries, paving the way for further integration and innovation.

Caged Beasts

Website: https://cagedbeasts.com

Twitter: https://twitter.com/CAGED_BEASTS

Telegram: https://t.me/CAGEDBEASTS

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Source: https://en.cryptonomist.ch/2023/06/21/shiba-inu-declines-caged-beasts-soar/