Dogecoin and Shiba Inu, the two most popular cryptocurrencies today, are known for their memes and enthusiastic communities. They show no signs of slowing down, making them investment opportunities worth considering in 2023. It’s not surprising that Avorak AI forecasts a positive outlook for the two.
Avorak AI (AVRK)
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Will Shiba Inu Reach 1 dollar?
According to Avorak AI’s market analysis, the SHIB price is expected to see significant growth in 2023. Shiba Inu’s projected upward trend is mainly due to its growing popularity, its use cases, Shibarium’s impending launch, and its enthusiastic communities. While the market remains highly volatile, these price projections show that Shiba Inu remains a promising investment opportunity with significant profit potential.
However, Shiba Inu’s price may not attain $1 as several issues impede its surge. For one, it is way below one cent and seems unlikely to reach $0.01. Given the current coin supply of 589 trillion, SHIB’s worth would have to achieve a $589 trillion cap for Shiba Inu’s price to reach $1. Alternatively, SHIB would have to burn several tokens, but there are no burn mechanisms for such an enormous coin supply. Avorak AI forecasts that it wouldn’t be possible in the current state.
Is Dogecoin Dead?
Given the current market craze with new meme coins like PEPE, one would be forgiven for thinking that Dogecoin is dead. Despite this, Dogecoin is not dead. Despite significant price drops, it remains an active cryptocurrency being traded and mined. Its unusual beginnings and loyal community can contribute to its continued existence, even if its popularity in the market wanes.
However, Avorak AI notes that Dogecoin’s wild success was primarily hype and speculation and that these factors may only sustain it short term. In this view, Dogecoin may experience rough waters as the market undergoes rapid changes and new meme coins emerge. While Dogecoin faces an uncertain future, it remains an active cryptocurrency with a loyal following. However, its real usage, adoption, and long-term viability are still being determined and can depend on various unpredictable factors, including the Elon Musk factor.
Wrap Up
Dogecoin and Shiba Inu are popular cryptocurrencies in the market, with dedicated communities and growing adoption. While the market remains highly volatile, Apricevorak AI’s projections provide an optimistic outlook for investing in these digital assets. As new meme coins like PEPE enter the market, eyes are trained on how they will evolve in the face of new competitors and changing market trends.
Get more on Avorak AI and ICO here:
Website: https://avorak.ai
Buy AVRK: https://invest.avorak.ai/register
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