Investors are slowly turning to utility with the increased development in the cryptocurrency space. As such, projects like Avorak AI are finding favor among investors, while others like Shiba Inu struggle to compete.
What is Shiba Inu?
Shiba Inu (SHIB) is a meme coin inspired by the Shiba Inu dog breed and the success of its predecessor, Dogecoin (DOGE). Since its creation in 2020, the meme coin has garnered significant popularity, creating a strong community known as the Shibarmy. The Shibarmy supports the growth and adaptation of SHIB, constantly trying to retain its social media popularity, a key factor for SHIB’s growth.
Is Shiba Inu a good investment?
Shiba Inu (SHIB) is the second-largest meme coin by market cap. However, Shiba Inu still lacks substantial utility. Additionally, SHIB has been on a notable decline for the past 90 days and is receiving increased competition from new meme coins and AI crypto projects. Nonetheless, the Shiba Inu team is working on increasing utility with developments like Shibarium. The testnet for the L2 blockchain has been having increased transactions, which suggests that there is still upside potential. However, you should still DYOR (Do your own research) and note that Shiba Inu’s price is highly volatile and mainly driven by hype and popularity rather than actual value.
Avorak AI (AVRK): Showcasing true utility
The Avorak AI project has been gaining traction in the crypto market. The project’s initial coin offering (ICO) has attracted investors from all over the world due to its potential for growth.
Avorak AI is the first project to offer a comprehensive AI solution via the blockchain. The project’s products are unique and stand out due to their enhanced features and capabilities. Avorak Write, for example, is Avorak’s text generator, and it uses a combination of mechanisms that ensure the generated texts are proofread, non-plagiarised, and non-repetitive. This is in contrast to most text-generating AI.
Other Avorak solutions include chatbots, command-line trading bots, virtual assistants, image creators, security monitors, 3D modeling tools, automated video editors, and a lot more. Avorak provides real-world uses for its native token, AVRK, by using it as payment for its AI services. AVRK can be traded and used for incentivized liquidity provision through decentralized and centralized crypto exchanges. The AVRK token also offers utility for users, guaranteeing a share of Avorak’s profits. AVRK can be staked in any of the three staking pools provided by Avorak to increase their total hold of the project’s market cap.
Avorak has also launched a unique NFT collection. These NFTs are created through the combination of AI, blockchain technology, and impressive digital art. Beyond their appeal as collectibles, these NFTs offer utility benefits to their owners. They, for example, guarantee a 50% lifetime discount on Avorak Write and other Avorak AI products.
AVRK is deflationary, with a maximum supply of 40 million. The Avorak AI ICO offers an opportunity to get these tokens at discounted prices with several other benefits, including token bonuses and priority staking. AVRK is expected to rise by 325% when the Avorak ICO enters phase 7 on 30th May. Analysts like Ben Crypto suggest that the Avorak project and its ICO represent a compelling investment opportunity.
For more information on Avorak AI and its ICO:
Website: https://avorak.ai
Buy AVRK: https://invest.avorak.ai/register
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Source: https://www.thecoinrepublic.com/2023/05/28/shiba-inu-struggles-to-compete-with-avorak-ai-utility-features/