In recent weeks, Shiba Inu (SHIB) and Dogecoin (DOGE) have struggled in the market alongside major players like Bitcoin (BTC) and Ethereum (ETH), which are also experiencing oscillations. Despite their communities' strong support, these memecoins struggle to surge.
Shiba Inu (SHIB) and Dogecoin (DOGE) have been struggling in the market recently, despite their communities’ best efforts to pump the memecoins and drive up their prices. Both tokens are experiencing a bearish trend as the global market cap sinks below $2 trillion.
Dogecoin is currently trading at about $0.098, showing a 1.3% increase over the past week. However, the memecoin lost around 16% of its value this month, adding to the 11% fall at the end of August. According to analysts, DOGE has formed a bearish descending triangle pattern, which could indicate another leg down toward about $0.09 shortly.
Shiba Inu is trading at about $0.00001299, with a 24-hour drop of 2.93%. Despite predictions of a 53% rise, SHIB has faced setbacks, including a 7.1% drop earlier this month. Even whales’ purchases of 1 trillion SHIB tokens haven’t eased market concerns, as daily transactions within its ecosystem, notably Shibarium, have fallen by 93%.
The struggles of Dogecoin and Shiba Inu highlight a broader issue in the meme coin market, which is largely driven by hype, FOMO, and speculative trading. Both tokens experienced a massive surge in 2021, thanks to the memecoin craze and the retail trading frenzy. However, as the market cooled off in 2022, both memecoins faced difficulties in maintaining their earlier gains.
While Dogecoin managed to stay in the top 15 cryptocurrencies by market cap, Shiba Inu dropped out of the top 20 earlier this year. Both tokens have been consolidating in the lower ranks throughout the bear market.
In contrast to the memecoins, a new Ethereum presale token, RCO Finance (RCOF), has been generating interest and buzz. Despite being in presale, the token has managed to sell nearly 20 million tokens and raise over $1.9 million.
The RCOF Ethereum presale token is gaining attention, but the real innovation lies within the RCO Finance platform. Being the first fully AI/ML-based platform on the Ethereum blockchain, RCO Finance aims to bridge the gap between digital assets, DeFi, and TradFi. Integrating AI with blockchain is set to change how investors approach crypto trading, making it more accessible and secure.
At the core of this innovation is a crypto AI robo-advisor. The tool utilizes machine learning, historical price data, live price movements, trends, and news events to generate personalized investment strategies tailored to one’s financial goals and risk tolerance.
The robo-advisor analyzes market conditions and adjusts portfolios to help investors make profitable decisions and trades using automated market-making, eliminating emotional biases and human errors. This integration allows investors to trade and invest precisely and confidently.
RCO Finance also stands out by seamlessly connecting traditional and digital finance. It allows users to invest in stocks, bonds, and real estate using cryptos, eliminating the need to convert to fiat currency.
By integrating real-world assets with tokenization, RCO Finance opens new avenues for investors who want to diversify into traditional financial instruments.
With leverage options up to 1000x, investors can expand their portfolios and enhance potential returns, even with smaller starting amounts.
Additionally, staking RCOF tokens offers rewards with some of the highest annual percentage yields in crypto, which contributes to the token’s demand and stability.
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