Sunday, June 23, 2024

Shiba Inu Holders Diversify Portfolios with New ICO Offering.

A well-known ERC-20 meme currency Shiba Inu ($SHIB) is emerging as one of the top digital asset investments of 2024, surpassing Bitcoin, Ethereum, and the popular meme coin Dogecoin.

Shiba Inu’s price has increased by an astounding 200% since this time last year, to $0.00002547.

In contrast, the most popular cryptocurrency worldwide, Bitcoin ($BTC), has increased by 158%, Ethereum ($ETH) has increased by 115%, and the biggest rival of $SHIB, the original Doge meme coin, Dogecoin ($DOGE), has increased by 137.5% in the last 365 days.

Nevertheless, the token’s performance during the previous three months indicates that, despite growing support at its green trend line, it is encountering stiffening resistance, as seen by the red trend line. According to the data, $SHIB’s price has been comparatively steady over the past month as it has been trading just above its 30-day moving average, which is shown by the blue line on the graph.

Shiba Inu is on the verge of becoming overbought, with a relative strength index (RSI) in the upper 60s (70 is the threshold). The announcement last week that the US SEC had approved Ethereum ($ETH) exchange-traded funds (ETFs), the coin powering Shiba Inu’s native blockchain, is probably what sparked the recent purchasing frenzy.

$DICE from Mega Dice Tempts Shiba Inu Owners

Shiba Inu has realized that in the post-adoption age, when cryptocurrency will proliferate as a widely used payment method and value store for the general public, very few meme currencies will endure. Because of this, the project’s creators revealed earlier this year that they were raising $12 million to create a new layer-3 blockchain with a privacy focus.

Nevertheless, a multitude of new projects—some of which are still in presale—that aim to diversify portfolios suggest that cryptocurrency has much more in store than just being used for payments or value storage.

BetFi is one such industry. Any cryptocurrency-native online gambling platform or product is referred to by this name.

Online gambling may generate $100.90 billion in income this year, according to Statista estimates. Additionally, a new breed of tokens is acting as loyalty cards as well as playing chips.

According to the website, the Solana GameFi token Mega Dice’s ($DICE) initial coin offering (ICO) began in mid-April and has already raised over $1.2 million in investments.

The first authorized cryptocurrency casino in the world, Mega Dice, debuted last year and is available via the well-known messaging service Telegram.

More than 50,000 players have registered since then, contributing to the casino’s rise to prominence in GambleFi.

Customers of the casino who use the token will eventually receive more perks since the casino intends to include it in the loyalty program and provide players with more substantial prizes.

Additionally, the token will grant access to VIP events and unique competitions.

Last but not least, Mega Dice has announced a repurchase and burn campaign. This implies that in order to maintain the tokens’ scarcity and increase their value, the casino will occasionally purchase a portion of them and take them out of circulation.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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