Shiba Inu and Solana Prices Collapse, Analysts Pick New Coin To Give 10X Profit

In the latest crypto news, a whale has dumped some of its Shiba Inu coins for FET tokens. Also, the number of active users on the Solana blockchain has reached a new yearly peak of 2.3 million.

While these two top cryptos are facing declines, analysts are throwing their weight behind Intel Markets to give investors 10X profit. The project has already raised over $220k in the first stage of its presale.

Shiba Inu (SHIB) Whale Dumps SHIB Coins

A Shiba Inu whale, who profited massively in the 2021/2022 market cycle, has exchanged some of its Shiba Inu coins for FET. As reported by SpotonChain, the anonymous whale had exchanged 255.62B $SHIB ($3.5M) for 3.114M $FET.  

Remarkably, the investor’s move seemed to be a good decision since the price of FET rose by 14% after that. The reason for the swap could be the poor price movement the Shiba Inu token has been displaying for weeks.

The cryptocurrency’s value is fluctuating between $0.000011 and $0.000016 on the monthly chart. Shiba Inu’s market cap is around the $6.5-$9.5 billion range. Experts expect the Shiba Inu coin price to climb higher when positive sentiment returns to the market.

Solana (SOL) Reaches New Yearly High For Active Users

Solana (SOL) is among the worst-performing coins in the market right now. However, its on-chain activity has been in the past few months. According to Token Terminal data, the number of daily active users on the Solana network has reached a new yearly high.

Token Terminal data shows the Solana blockchain reached a yearly high of 2.3 million active users on August 28. This increase in the number of active users could be due to the rise of memecoins.

In the meantime, the price of Solana coin is trading below the 50-Day SMA ($156.13) and 200-Day SMA ($147.85). Its market cap is ranging between $50-$80 billion on the monthly timeframe. Analysts forecast the value of the cryptocurrency could rise to $151.93, if it recovers above $132.

Intel Markets Presale Growth Skyrockets, Crosses $220K

IntelMarkets (INTL), a new trading platform based on Artificial Intelligence, is now ruling the crypto market with its ongoing ICO. Many traders have expressed their interest in this new platform even though the platform is still at the presale stage. The project has crossed $220k in funding in the first week of its presale.

This new trading platform, which will be built on AI and blockchain technology, will give traders access to fast transactions at low cost. Intel Markets also has a multi-channel analysis that contains data from several sources. With this data, traders can use its AI bot to generate effective trading signals. They can also use the bot to trade and evaluate market movements and possible directions.

In addition to this, Intel Markets has risk management tools investors can use to hedge their investments. Analysts are already calling Intel Markets a potential ‘game changer’ in the $36.5 billion crypto trading platform market. Because of this, they forecast that the price of its native token will increase by 10x after launch. INTL is currently available at $0.009.