The broader crypto market is facing a declining momentum, which is evident in recent price retracement faced by top altcoins like Shiba Inu (SHIB) and Dogwifhat (WIF). While SHIB price has managed to break even in the past week, WIF price trajectory reflects a noticeable consolidation spanning four months.
Meanwhile, Lunex Network (LNEX), a fast-rising presale star, is drawing enormous attention largely because of its DeFi iteration. The Ethereum-based DeFi protocol aims to streamline transaction processes, and optimize DeFi efficiency. Given its disruptive model, Lunex Network has raised well over $1.6M in its ongoing presale as it witnesses growing interest.
Lunex Network’s Disruptive Swap Mechanism Attracts Growing Interest
The Lunex Network (LNEX) has emerged as a potential disruptor in the DeFi market, owing to its streamlined transaction process that set it apart from its peers. Specifically, Lunex Network connects isolated blockchains and establishes a non-custodial crypto exchange that can execute crypto swapping and cross-chain transactions in a single attempt. More importantly, users can do this completely anonymously and at a very cheap cost.
Another interesting aspect of this project is its revenue share model, which allocates a portion of its exchange’s profit toward buying the native LNEX token from the open market. Part of these is distributed among token holders while the rest undergoes a burning process that ultimately drives up both the demand and value of the token.
Meanwhile, Lunex Network also caters to the needs of institutional users, offering over 65 RPC nodes for Web 3 developmental needs. Furthermore, corporate businesses can integrate a custom B2B merchant payment gateway that enables them to accept crypto payment, convert to fiat and vice versa. Currently, the native $LNEX token is selling out rapidly at an ample price of $0.0019 in the fifth presale stage.
Dogwifhat Token Risk Further Retracement Amidst Price Consolidation
Dogwifhat (WIF) has been consolidating below the $3 price mark in the past four months. Despite a recent attempt to break out of this crucial level, reaching a monthly peak price of $2.95, WIF token has retraced to a lower level.
Currently, WIF token is trading within a weekly price range of $2.511 and $2.40, which reflects over 4% decline in the past seven days. This noticeable price decline has further shrunk its monthly price gain to a little above 1%.
Meanwhile, Dogwifhat’s technical analysis suggests a neutral momentum as the short and long term moving averages points at sell and buy signals respectively. This uncertainty in WIF price trajectory ultimately suggests that WIF price consolidation may persist, especially considering the slowing momentum of the broader crypto market.
Shiba Inu Price Faces Minor Retracement Amidst Network Upgrade
Despite recent upgrades to its network, Shiba Inu (SHIB) price trajectory is struggling to maintain bullish momentum. In the past week, SHIB price surged by 25% from its lowest price level around $0.000016, reaching a peak level around $0.000020.
While this uptick was mostly attributed to the recent ShibaSwap 2.0 launch, the Ethereum-based meme coin has lost most of its gains. Currently, SHIB token is trading around its weekly entry price at $0.000017, which puts its weekly profit at a neutral zone.
However, the current trend is expected to improve considering SHIB token’s technical analysis including 20, 50, and 100-day moving averages points at a strong buy signal. This positive outlook justifies the optimistic stance of the Shiba Inu community as 88% of over 44K community members on CoinMarketCap voted in favor of a bullish price trajectory.
Can Lunex Network Outshine Dogwifhat and Shiba Inu This Q4?
While Dogwifhat and Shiba Inu are established meme coins with their unique potential, the latter holds more potential considering its recent upgrade that introduces major upgrades that improves its liquidity, multi-hop swaps, and user experience.
However, Lunex Network stands out due to its DeFi iteration which is set to disrupt the crypto market. Besides, interested participants can also join the ongoing giveaway and stand a chance to win part of the $500K worth of prize to be shared among early backers.
Discover the Exciting Opportunities of the Lunex Network (LNEX) Presale Today!
Website: Lunex Network
Socials: Join Our Growing Community
Disclaimer: This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of Bitcoinist. Bitcoinist does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.
