Shiba Inu (SHIB) is experiencing a turbulent time different from the viral meme coin frenzy of the past. Shibarium, its layer 2 network, is seeing low activity while its price struggles to break out of a narrow range. This stagnation directly impacts Shiba Inu as investors focus on new, more promising coins.
Investors seeking the next big opportunity are drawn to new projects that surface as the crypto industry develops. FXGuys ($FXG) is one of the most promising contenders in the crypto space, and its outstanding presale performance is a testament to this. This article covers why the $FXG blockchain ICO is witnessing skyrocketing enthusiasm in its presale amid the Shiba Inu price decline.
Shiba Inu (SHIB) Experiences a Price Decline
Shiba Inu's price appears to be stuck at the core of the memecoin mania. Its October 9 consolidation, which occurred at $0.00001718, indicates a 21% decline from its monthly peak. This stagnation could be due to the recent surge in popularity of new meme coins like Popcat, Neiro, and SPX6900.
Despite Shiba Inu's popularity, it witnesses competition that shows its shortcomings. As new coins continue to soar, Shiba Inu appears unable to provide the same potential for short-term gains. If SHIB surpasses the critical resistance level at $0.0000187, its peak level on October 6, it will be confirmed that it is on the rise.
The Layer 2 Network, Shibarium, is Slowing Down
Shibarium, Shiba Inu's layer 2 network, was initially expected to boost the ecosystem by enhancing transaction speed and scalability. The most recent data from ShibariumScan indicates a concerning decline in its activity. Active accounts have fallen below 500, with only 33 new accounts created on October 8.
This decline in activity indicates a growing lack of interest in Shibarium, even though it was supposed to be a driving force behind the Shiba Inu ecosystem. Transaction fees have decreased 91%, from an average of 0.062 BONE to 0.005 BONE.
People may view these reduced fees as positive news. They mostly point to a decline in the quantity of network transactions. Shibarium produces fewer SHIBs to burn, which is essential for lowering the amount in circulation and maintaining the token's value.
FXGuys ($FXG) Presale Attracts Institutional Investors
The crypto community is taking notice of FXGuys despite it still being in its early stages. The project recently launched its first presale stage, where the $FXG tokens are available at a DeFi coin price of $0.03 each. This comes after FXGuys sold 68 million $FXG tokens and successfully raised over $ 1 million during its private round.
Investors are swarming to the presale to lock in their spot before the public launch, when the token price is anticipated to surge to $0.10. The rapid success of this presale indicates the optimism investors have towards FXGuys' potential. This shows that early adopters stand to gain a lot as the blockchain ICO develops and reaches new milestones in 2024.
Written by seasoned experts, who have over 16 years of experience in Free Zones development. Learn more.
The extensive trading ecosystem that FXGuys offers, tailored for traders of various skill levels, distinguishes it from other DeFi companies. Skilled traders can access up to $500,000 in capital through the platform's prop company funding program without risking their money. FXGuys offers the funds required to conduct larger transactions and seize market opportunities.
Conclusion
The ability of Shiba Inu and Shibarium to rebrand themselves and win over the crypto community again will ultimately determine their future success. FXGuys’ impressive, ongoing presale performance and unique strategy for integrating traditional and decentralized finance have garnered investor interest. Early investors can ride the wave to enormous profits as the token's value continues to rise.
To find out more about FXGuys, follow the links below:
Website | Whitepaper | Socials | Audit
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