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The 2021 bull run minted numerous crypto millionaires, many of whom invested in assets that experienced extraordinary rallies, such as Shiba Inu and Dogecoin. A top trader who accurately predicted the meteoric rise of these two meme coins now believes it’s time to pivot from them as they continue to underperform.
According to this expert, while Shiba Inu and Dogecoin dominated the 2021 bull run, their potential has waned, making them poor investments. He believes that the upcoming rally will be spearheaded by a new meme coin, MoonTaurus (MNTR). This prediction follows the coin’s recent 100% price gain.
Shiba Inu (SHIB) and Dogecoin (DOGE) Underperform
In 2021, Shiba Inu and Dogecoin led a remarkable rally fueled by a broader cryptocurrency market surge and the meme coin craze. Shiba Inu, in particular, saw its value skyrocket by over a million percent from its launch. However, the excitement surrounding these meme coins has diminished, with both now trading approximately 85% below their all-time highs.
Recent data from IntoTheBlock paints a troubling picture for Shiba Inu. Following a summer lull that shook the entire crypto market, Shiba Inu is still “mostly bearish,” with five out of six key indicators showing negative trends. The Net Network Growth, which measures the true expansion of SHIB’s network, has fallen by 0.19. The percentage of “in the money” holders has also dropped, with only 45% of SHIB investors currently in profit.
Shiba Inu is hovering around $0.0000130, with a minor 0.34% increase in the last 24 hours. The token has recently had nine out of thirty positive days, emphasizing its struggle to regain momentum.
Dogecoin has also had its share of troubles. Despite a 3% rally in the last 24 hours, DOGE has only had eight positive days in the last 30. The token is down 0.26% over the last week and 20.99% over the past month. Current sentiment for Dogecoin remains bearish, with 14 technical analysis indicators showing bullish signals while 16 are bearish. According to CoinCodex, the price is expected to fall by 13.81% in the next 30 days, reaching $0.090347 on September 20. According to the trader, now is not the right time to buy Shiba Inu or Dogecoin.
Top Meme Coin for 2024 Bull Run
With Shiba Inu and Dogecoin struggling, the trader has named MoonTaurus (MNTR) as the next big opportunity for meme coin investors. The meme coin is relatively new, having launched in presale only two weeks ago. One of the main draws of MoonTaurus has been its rapid presale success. The coin recently completed the first phase of its presale, raising $300,000 in just over a week. This strong start has only fueled more enthusiasm for the project, leading to a 100% price increase as the presale moved into its second phase.
The price of MNTR is set to increase with each phase of the presale, culminating in a launch price of $0.07. For investors who buy in during the second phase of the presale, this represents a 700% return by the time the coin hits the market.
MoonTaurus has a capped supply of 3 billion MNTR, setting it apart from traditional meme coins like Shiba Inu and Dogecoin. The limited supply of MoonTaurus creates an inherent scarcity that could drive up the price as demand grows. This scarcity has already begun to influence the token’s value during the presale, contributing to the recent 100% price increase.
Interestingly, among the investors accumulating MoonTaurus are early Shiba Inu and Dogecoin whales. These investors, who recognized the potential of SHIB and DOGE early on, are now banking on MNTR for similar or even greater returns. Their involvement has also attracted the attention of smaller investors, given the whales’ ability to influence market trends. Analysts are also bullish about MoonTaurus, predicting a strong post-launch rally. MNTR is expected to hit $1 by the end of the year, a 100x climb from its current price.
MoonTaurus has emerged as a strong alternative for investors as Shiba Inu and Dogecoin struggle. The meme coin has already gained strong momentum, even while still in its presale phase. The endorsement from a trader who accurately predicted the top gainers of the previous bull run further boosts its appeal. This trading expert believes now is the ideal time to invest in MNTR while it is still undervalued and in its earliest days.
Website: https://moontaurus.com/
Linktree: https://linktr.ee/moontaurus
Source: https://finbold.com/trader-who-predicted-shiba-inu-and-dogecoins-2021-bull-mania-sounds-alarm-as-shib-doge-plunge-85-from-all-time-highs-reveals-top-meme-coin-for-2024-bull-run/