Shiba Inu (SHIB) and Dogecoin (DOGE) Underperform
In the spectacular cryptocurrency bull run of 2021, Shiba Inu and Dogecoin were at the forefront, captivating the attention of both new and seasoned investors. Shiba Inu particularly experienced an astronomical rise, with its value increasing by over a million percent since its inception. However, the enthusiasm driving these meme coins has significantly dwindled. Both coins are now trading approximately 85% below their all-time highs, leaving many investors questioning their future potential.
Recent reports from IntoTheBlock highlight the bearish trends engulfing Shiba Inu. The Net Network Growth, an indicator that assesses the expansion of SHIB’s network, has decreased by 0.19. Moreover, only 45% of SHIB holders are currently profiting, showcasing a steep decline from earlier profits. Currently priced at $0.0000130, Shiba Inu has seen only minor increases and has struggled to regain its former momentum.
Similarly, Dogecoin is experiencing its own set of challenges. Despite a recent 3% rally, DOGE has had just eight positive days in the last 30. The coin’s price has fallen by 20.99% over the past month. Sentiment remains bearish as technical analyses present 16 bearish signals compared to 14 bullish ones. As such, predictions indicate a potential 13.81% decrease in Dogecoin’s price by September 20, 2023.
Top Meme Coin for 2024 Bull Run: MoonTaurus (MNTR)
As Shiba Inu and Dogecoin falter, an expert predicts that MoonTaurus (MNTR) is poised to be the next big player in the meme coin sector. Having emerged only recently, MoonTaurus has already drawn significant investor interest, completing its first presale phase by raising $300,000 within a week. This rapid fundraising has resulted in a 100% price increase as the presale progresses.
MoonTaurus’s presale is structured to increase its coin value with each phase, setting a launch price of $0.07. For investors entering the second phase, this means a potential 700% return on their investment by market launch. The capped supply of 3 billion MNTR sets MoonTaurus apart from other coins like Shiba Inu and Dogecoin, creating scarcity that can drive up demand and price.
Early SHIB and DOGE investors, often termed whales for their significant market influence, are now turning their attention to MoonTaurus, hoping for similar or even greater returns. Their involvement has caught the eye of smaller investors, who see the whales' interest as a promising sign of potential success. Analysts are optimistic about MoonTaurus, predicting it could reach $1 by the end of the year.
For investors seeking alternatives to Shiba Inu and Dogecoin, MoonTaurus presents a compelling opportunity. With the endorsement of a top trader and its rising trajectory during the presale, MNTR might be the next big coin to capitalize on. This could be the ideal time for those looking to invest in a promising meme coin still in its early stages.
