Since the start of February, cryptocurrencies have been recording significant price declines as the cryptocurrency market grapples with mixed U.S. economic data, causing a market-wide pullback. Among the hardest hit are memecoins Dogecoin (DOGE) and Shiba Inu (SHIB).
While these memecoins decline, many holders are migrating to a viral crypto token as a hedge for potential losses, anticipating a remarkable 24,000% rally at its official launch. Keep reading to gain more insight about this token and why you should consider adding it to your portfolio!
Dogecoin (DOGE) Price Drops As Bears Dominate The Market
Over the past week, Dogecoin (DOGE) has witnessed a significant double digit price decline. The Dogecoin price dropped to the $0.254 level during the last five days alone, as the bears took over the market, influencing selling pressure.
As more investors sell off their holdings, the Dogecoin selling pressure grows stronger. Dogecoin’s market cap and trading volume have also dropped notably. However there’s a silver lining in the sky for DOGE.
Dogecoin will likely make history as the first meme coin to get an ETF, following several applications from venture capital firm Grayscale. The news is making its way around the market and analysts predict it might influence a rebound for Dogecoin (DOGE).
The Shiba Inu (SHIB) Community Burn More Tokens, Aimed At Fueling A Rebound
The Shiba Inu (SHIB) community has been significantly affected by the recent downward movements in the token price. Currently priced at $00001592, Shiba Inu (SHIB) is trading below its 200-day simple moving average (SMA) and is down 83% from its ATH.
In the past 30 days, Shiba Inu (SHIB) has recorded only 12 days of price increases. Similar to Dogecoin (DOGE), Shiba Inu has experienced notable declines in price, market cap, and trading volume.
In order to put an end to the downtrend, a total of 15.39 million Shiba Inu (SHIB) tokens were permanently removed from circulation by the Shiba Inu (SHIB) community, with the aim of reducing the token’s supply and potentially influencing its value.
Potential Huge Returns; DOGE And SHIB Holders Join IntelMarkets’ (INTL) Ongoing Presale With $1.5 Million
It appears the Shiba Inu SHIB price was still declining at the time of reporting. Market observers noted that DOGE and SHIB holders who have liquidated their positions over the past week have been migrating their funds to a viral AI crypto project called IntelMarkets.
In total, these token holders have invested around $1.5 million into INTL, boosting its presale momentum and investor adoption rate. But why exactly are these investors flocking to INTL?
Observers point to INTL’s real-world application, deflationary model, excellent tokenomics, attractive presale benefits, and its strong utility as the key features attracting investors.
Moreover, with the impending AI revolution, many see IntelMarkets as a safe haven for their funds, positioning it to lead the market. By purchasing INTL tokens currently priced at $0.08 in stage 9 of the presale, investors can enjoy discounts, staking rewards, and high leverage options up to 1000x.
They will also become eligible to leverage IntelMarkets’ trading tools and can participate in governance with voting rights. Most importantly, analysts suggest investors stand a chance to achieve 50x returns from their entry price once the token officially launches this quarter.
Join the Movement:
Buy Presale
Visit Intel Markets (INTL)
Join The Intel Community
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Source: https://blockonomi.com/doge-and-shib-holders-move-1-5m-into-this-viral-crypto-with-24000-potential/