#SHIB vs FLOKI

[crypto195]

Can FLOKI Break $0.00015? Investors Turn to Shiba Inu and FoxLetFun

FLOKI Struggles at $0.00015 Resistance; SHIB & FLF Rise After a four-day crash, FLOKI is attempting a comeback, struggling to break the $0.00015 resistance level. While FLOKI tries to regain its footing, investors are shifting their focus to other meme coins like Shiba Inu (SHIB) and FoxLetFun (FLF), which are capturing attention with their growth potential and unique features. FLOKI: Fighting to Break Key Resistance Levels FLOKI recently experienced a significant dip, falling below $0.00010 but has since shown signs of a recovery attempt. However, bearish market indicators, such as a widening gap between the 50-day and 200-day Exponential Moving Averages (EMAs) and a declining Moving Average Convergence Divergence (MACD), suggest that caution is needed. The token is currently hovering around $0.00010, and breaking above the $0.00015 resistance level will be crucial for its continued recovery. Despite these challenges, FLOKI retains a passionate community and aims for a bullish reversal in the coming days.

Read More- FoxLetFun (FLF)

[ailtrahq]

The recent crypto crash hit meme coins hard, culminating with a 9% drop in total market capitalization from Aug. 14 to Aug. 21. During the same period, Pepe (PEPE), Shiba Inu (SHIB), and ApeCoin (APE) saw a 25% decline. The big question is whether this trend will affect the wider market, signaling a broader bear market or simply reflects lagging performance of meme coins.Total crypto cap (blue) vs. Pepe/USDT (green), Shiba/USDT (red), Apecoin/USDT (orange), August 2023. Source: TradingViewMeme coins, like Dogecoin (DOGE), burst onto the scene driven by viral memes and community enthusiasm. However, their appeal faded due to a mix of factors. These coins rely on media hype and online communities for attention, yet they lack value beyond their meme origins. Their speculative nature leads to rapid price changes and volatility.Furthermore, the meme coin market has become saturated with copycats, drawing focus and resources to more traditional cryptocurrencies.Capital rotates as investors shift their attention to new trendsFor traders, the mid-August crypto market crash was a stark reminder of meme coin volatility. Many of these coins emerged in the last six months, like PEPE, HarryPotterObamaSonic10Inu (BITCOIN) , and Milady Meme Coin (LADYS). This might push new entrants away and create a negative sentiment, potentially extending a bear market to the broader crypto landscape. However, this underperformance is typical for meme coins, as seen in the past, like when APE), SHIB, and PEPE lagged the total crypto market by 18% between June 5 and June 15.Total crypto cap (blue) vs. Pepe/USDT (green), Shiba/USDT (red), Apecoin/USDT (orange), June 2023. Source: TradingViewThese two instances don't necessarily mean meme coins will always perform worse than the broader crypto market. They reflect a higher beta in the sector, where meme coins tend to exaggerate market movements. Despite this, it's uncertain if excessive price drops are a backward-looking phenomenon or signal a market reversion.Contrary to expectations, meme coins can also lag during bull markets. For instance, between March 13 and March 30, meme coins fell while the total crypto cap gained 17.5%. Total crypto cap (blue) vs. Floki/USDT (green), Shiba/USDT (red), Apecoin/USDT (orange), March 2023. Source: TradingViewAfter looking at the two most recent instances of meme coin underperformance, it's crucial to examine their aftermath. This entails determining whether the price drop hinted at a possible market bottom or if it merely signaled investors shifting their attention to other cryptocurrencies.Cryptocurrency market total capitalization, USD. Source: TradingViewDespite the bullish evidence, external factors influence meme coin price actionFollowing the mid-June and late March period where meme coins underperformed, the overall cryptocurrency market capitalization either remained steady or experienced notable gains in the subsequent weeks. Numerous factors could have influenced investor sentiment during these periods. For instance, the sentiment might have been influenced by BlackRock's application for a Bitcoin exchange-traded fund (ETF) on June 15.Similarly, on March 31, BTC options worth $4.2 billion expired. This event was seen as a potential catalyst for Bitcoin (BTC) to strengthen its $28,000 support level. This was due to a notable imbalance between call (buy) options and put (sell) instruments, with call options surpassing put options by $1.2 billion. This likely favored Bitcoin bulls and could have led them to utilize profits from the expiry to bolster the BTC price.However, since neither of the last two sharp corrections in meme coins were succeeded by broader cryptocurrency market declines, the possibility of Bitcoin finding support around $26,000 remains a possibility. Nevertheless, as evident from the ETF and options expiry incidents, market trends and meme coin price action are primarily steered by news and events. This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice.

The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph. Source

[etiennekissborlase]

CNBC Argues Why Shiba Inu Will Overtake Dogecoin In One Year

CNBC Argues Why Shiba Inu Will Overtake Dogecoin In One Year https://bitcoinist.com/cnbc-argues-shiba-inu-overtake-dogecoin/ The hype around Shiba Inu and the metaverse of SHIB has now reached the mainstream media. In a new article, CNBC examines whether Shiba Inu can displace the still largest meme coin Dogecoin from its throne in the future. And the verdict should please the SHIB community: CNBC believes SHIB will overtake its biggest competitor, though it could take “more than a year.” Shiba Inu Vs. Dogecoin As CNBC discusses in its article, both dog coins have dominated much of the meme coin market share in recent years. Other meme coins, such as FLOKI, fall far short of the capital that SHIB and DOGE have already been able to attract through their large fan communities. Right now, however, Dogecoin still holds a significant lead of more than six billion dollars in market capitalization over SHIB. That lead could gradually melt away, however, according to the CNBC analysis, due to Shiba Inu’s initiatives of “unique use cases.” “The utility is undoubtedly the most significant indicator of a project’s potential,” CNBC’s analysis states. In the case of Dogecoin, the media outlet sees the main utility as a payment method, with Twitch, AirBaltic, AMC, Tesla and GameStop, among others. In contrast, Shiba Inu’s use cases are much broader. The project is tapping into the DeFi sector through its decentralized exchange ShibaSwap, offering NFT creation and trading, and is currently developing its own layer-2 scaling solution Shibarium. However, CNBC predicts the biggest use case will be the metaverse: Shiba Inu’s metaverse, which is likely to debut by the end of 2023, and a number of games including Shiba Eternity, Shiba Run, and Shiba March, all contribute to the project’s growth potential as well. In contrast to Dogecoin, each of these initiatives offers a unique use case. A second area which the analysis looks at is the on-chain data of both meme coins – specifically the number of daily active addresses. Since the beginning of the year, SHIB has averaged 5,000 to 6,000 transactions per day. Dogecoin is still clearly ahead here. The number of daily active addresses is well over 50,000 at DOGE, indicating that its network is attracting significantly more investors. The main reasons, according to the media outlet, are its “early-mover advantage and well-known celebrity endorsers, like Elon Musk.” CNBC’s conclusion, therefore, is: Despite higher percentage gains and greater use cases, Shiba Inu still falls short of Dogecoin’s dominance in the meme sector. Therefore, it may take longer than a year for Shiba Inu to close that over $6 billion gap in market cap and overtake Dogecoin. Shiba Inu Goes To Hollywood In a recent tweet, Marcie Jastrow, advisor to the Shiba Inu Metaverse team, hinted at Hollywood’s growing interest in the virtual world. After the  National Association of Broadcasters (NAB) show, she tweeted: Well another NAB over – been a great few days of panels and interviews. Shib the Metaverse is the talk of hollywood and Shibarium can run it all – we got this shibarmy. Yep one of the best panels due to @techcatgirl jumping in the audience and including. https://t.co/r6MTuDEiuW — Marcie Jastrow (@marciejastrow) April 19, 2023 At press time, the SHIB price was $0.00001095. Due to the market-wide correction on the crypto market, SHIB has broken out of the ascending triangle pattern to the downside. via Bitcoinist.com https://bitcoinist.com April 20, 2023 at 01:30PM