There are always surprises in the crypto market and this past weekend was no exception. Remittix, even while still in the presale phase, defied expectations by reaching remarkable new heights, while meme currencies like Dogecoin and Shiba Inu saw unanticipated declines. The meme coins community’s favorites, Shiba Inu and Dogecoin, witnessed price drops as a result ofa reduction in investor enthusiasm and heightened market rivalry. 

At the same moment, Remittix, a rising star, continues to steal the show with its cutting edge crypto-to-fiat payment method. Experts estimate that it might become one of the largest breakout tokens of 2024 with growth forecasts as high as 100x, after raising over $4 million in its presale so far. Many crypto fans are perplexed by this contrast and wonder what’s happening.

Shiba Inu Price Analysis: Why It Dropped Over the Weekend

Despite its popularity, Shiba Inu price trends have been increasingly volatile. Whale activity dwindled over the weekend, which resulted in fewer trading volumes and a fall in the currency. There are two primary causes of the decreased momentum:

● Over-reliance on Hype: Although Shiba Inu became popular as a meme coin, its limited usefulness has raised doubts about its long-term worth.
● Increasing Competition: Investors are turning their focus away from meme-based initiatives to newer tokens with practical uses, such as Remittix.

The price hasn’t stabilized yet despite continuous improvements made by Shiba Inu’s creators, including enhancements to its Shibarium Layer-2 blockchain.

Dogecoin Market Trends: Understanding the Weekend Decline

A similar outcome occurred with Dogecoin, which saw a drop in value over the weekend. A 10% drop in transaction volume suggested that investor sentiment had changed. Among the contributing elements are:

● Reduced Social Media Influence: At the beginning of Dogecoin’s run, Elon Musk’s tweets influenced Dogecoin to surge, the excitement has subsided, which has resulted in less interest from speculators.
● Lack of Utility: Like Shiba Inu, Dogecoin struggles to compete with tokens offering practical applications, such as Remittix.

Despite its loyal following, Dogecoin’s price trends seem to depend mostly on speculative trading rather than long-term usage. Because of this, it is

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Author: Crypto Daily