(MENAFN- Comserve) Shibuya-ku, Tokyo, Japan, Japan, Nov 26, 2021, 00:16 /Comserve / -- Shiba Inu (SHIB) has fallen further this week after surging by more than 70,000% this year to a record high of $0.00008854 at the end of October
Shiba Inu (SHIB) has fallen further this week after surging by more than 70,000% this year to a record high of $0.00008854 at the end of October, making some people millionaires in just a few months. But SHIB's price has plunged over 60% since then, indicating that traders have been actively locking in their Shiba Inu profits. This has also resulted in a significant reduction in volumes of SHIB's benchmark instrument, SHIB/USDT, on Binance, indicating a lack of retail interest.
Dogecoin has also continued its downward trend falling over 50% since its crypto millionaire-making peak. The signs are clear the great heights of the canine coins is now far behind them as the market struggles to find any fundamental or intrinsic value offered by these coins.
Fortunately, though, there is a new meme coin that's about to enter the fray, with stronger fundamentals and practical features that could propel it to becoming one of the top 10 cryptocurrencies in the world. It's called HUH Token and its launching on 6 December.
The Fall of The Canine Cryptos
In just five days, starting on Friday, SHIB's estimated market value fell to $21.30 billion from roughly $28.31 billion.
Google's keyword search data also revealed dwindling interest in the 'Shiba Inu' markets, with its 12-month score dropping from 100 to 20, almost in line with SHIB's 60% price correction.
The most recent round of selling in the SHIB market pulled prices below a significant upward sloping support (the velvet trendline), indicating the market's potential for more losses.
Meanwhile, Dogecoin also continues its steady decline possibly due to global headwinds of investors flocking to safe havens like the yen and the greenback, causing Dogecoin's (DOGE) price to plummet. For much of November, the DOGE price was trapped in a decline, which has intensified in recent days.
Enter HUH Token
It seems the opportunity to make millions on Shiba Inu and Dogecoin has now passed, but fortunately, there is a new exciting cryptocurrency that has the potential of replicating their success called HUH Token.
HUH Token will be launched cryptocurrency exchanges PancakeSwap and Uniswap, although people can already buy the token now during its presale via their website.
HUH Token has been audited by Shellbox and Solidity Finance, with a Certik audit expected to be finished by the end of this week. These are respected auditing firms, therefore holders may rest assured that HUH Token is genuine.
The founders of HUH Token claim that when the token launches on 6 December, $1 million in liquidity will be locked in for two years, which should help stabilise the token's value over time and avoid the massive losses seen by Dogecoin and Shiba Inu after their peaks, making this token even more appealing.
HUH Token is also launching a referral programme, in which holders will receive a 10% commission on the first investment of those they refer. You can recommend as many individuals as you like, and depending on the exchange you choose, the commission is paid out in Binance Coin (BNB) or Ethereum (ETH).
Follow HUH Token on their Socials before they Launch:
Presale:
Telegram:
Website:
Twitter:
Instagram:
The dynamic nature of business environment in the current global economy is raising the need amongst business professionals to update themselves with current situations in the market. To cater such needs, Shibuya Data Count provides market research reports to various business professionals across different industry verticals, such as healthcare & pharmaceutical, IT & telecom, chemicals and advanced materials, consumer goods & food, energy & power, manufacturing & construction, industrial automation & equipment and agriculture & allied activities amongst others.
MENAFN26112021004694010674ID1103254005
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.