2024-7-11 16:24 |
Shiba Inu (SHIB), a key player in the meme coin market, has been encountering significant problems. At its present price of $0.00001667, SHIB’s value has exhibited an impressive level of instability, which led some investors to seek other options.
One such project is Poodlana that is attracting attention due to its unique value proposition and growth prospects.
This shift represents changing dynamics within the meme coin space, with even well-known players battling with fluctuations.
Meme coin meltdown: Shiba Inu and peers struggle to recoverShiba Inu, once a favorite among meme coin traders, has failed to make any significant breakthroughs in recent months. Its RSI values oscillate around 42.55, a neutral stance which denies the presence of significant bullish momentum.
Other popular meme coins are in the same boat as SHIB and have had substantial downtrends from their all-time highs. An example is Pepe (PEPE), which strives to maintain its initial thrust while having a strong community.
Likewise, Dogwifhat (WIF) after an explosive launch on Solana has seen almost a 70% drop from its ATH indicating how volatile these meme coins can be. Also, even $BRETT, outperformed on Base network, could not discount market forces at 40% below peak prices. These drawdowns represent an ongoing trend in the meme-coin sector where quick gains are frequently followed by equally sharp losses.
Poodlana’s entry: The high-fashion Solana-based meme coinPoodlana, the ‘Hermes of Cryptocurrency’ is a fashionable Solana based altcoin that will start its pre-sale in just seven days with very promising returns for early investors.
It is therefore understandable that Poodlana is being looked into by VIPs in Asian countries such as China, Japan, and Korea. Several meme coins such as Bonk, Dogwifhat, and Pepe have already started their growth in Asia this year.
Poodlana’s unique position and market potentialPoodlana has a 30-day exclusive presale running with 500,000,000 tokens based on Solana starting at $0.02. Prices are expected to increase every three days.
The global fashion industry attained an astonishing valuation of $1.7 trillion in 2023 attracting blockchain innovators into the space. The Asian fashion industry alone is expected to be valued at $798.4 billion by 2028.
Thus, in this booming commercial sector, Poodlana aims not only to dominate dog-coin narratives but also to become a preferred digital asset for a society obsessed with fashion.
You buy POODL token with BNB, USDT, ETH, SOL, USDC, and fiat currencies or card payments. You can find further details about Poodlana on its website on this link.
The post Shiba Inu faces market challenges as Poodlana emerges as a new contender appeared first on Invezz
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