Shiba Inu (SHIB) has gained popularity and hype in the past year. It claims to be a decentralized community-driven project that aims to create an ecosystem of tokens, NFTs, and decentralized exchanges. However, Shiba Inu (SHIB) has faced many challenges and controversies, such as high volatility, security issues, and regulatory uncertainty. As a result, investor confidence in Shiba Inu (SHIB) has weakened. Investors appear to be dumping the meme coin in favor of RenQ Finance (RENQ), a new DeFi gem.
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RenQ Finance (RENQ) is a unified DeFi platform connecting isolated blockchains and providing various services. These are multi-chain DEX, perpetual trading, yield optimizer, lending protocol, and DeFi & NFT launchpad. RenQ Finance (RENQ)’s vision is to empower its users with a comprehensive solution with the benefits of a centralized exchange and beyond. Despite being relatively new, RenQ finance (RENQ) is already dominating in presales and has established a strong social media presence. RenQ recently completed the second stage of presale. The platform has raised more than $2.5 million in just two of eight presale phases, which shows that investors are very interested in the project.
Shiba Inu (SHIB) Price Analysis: A deep dive into SHIB’s price
Shiba Inu (SHIB) is one of the most popular meme coins created in August 2020 as an experiment in decentralized spontaneous community building. It was inspired by Dogecoin (DOGE) but claimed to be better. Shiba Inu (SHIB) mascot features a Shiba Inu dog breed called “the doge”.
The value of the Shiba Inu (SHIB) coin has cooled after a strong recovery in January and February. While the coin gained 6% in the previous week, Shiba Inu (SHIB) is down nearly 20% in the last month and more than 75% from its all-time high.
Ignoring the technical aspects, the recent launch of Shibarium, a layer-2 scaling network, has failed to live up to investor’s expectation of a SHIB bull run. Since the launch of its beta test two weeks ago, Shibarium has failed to push any gains in the price of Shiba Inu (SHIB). As a result, Shiba Inu (SHIB) investors have lost faith and are locking in their profits, causing the meme coin’s price to stagnate.
Given that the price has not yet overcome any significant barrier, the SHIB/USD chart does not appear highly positive. The $0.000014 area, which has served as resistance on prior several times, serves as the initial stage in this respect. The psychological threshold of $0.000015 may be challenging if the price moves over this level. For the immediate future, a break below the 200-day moving average might be quite negative. As such, Shiba Inu (SHIB) is not a strong buy at the moment. Enter, RenQ Finance (RENQ).
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RenQ Finance (RENQ) Overview: An introduction to RenQ Finance (RENQ), its mission, unique features, and investment potential
RenQ Finance (RENQ), a decentralized exchange, seeks to demonstrate that the idea of a decentralized global economy is still being researched and developed. To do this, the business is utilizing DeFi (Decentralized Finance) to provide a transparent environment where anybody may examine the smart contracts for the project. Only after the user votes in favor of or against it can any changes to the platform be made.
RenQ Finance (RENQ) is a community-driven organization established to provide a one-stop solution for all traders under one platform in the DeFi world. It aims to connect all isolated blockchains and establish a cross-chain asset exchange network. It also provides all necessary underlying support for the DeFi ecosystem.
RenQ Finance (RENQ) has its native token called RENQ, which is deployed on the Ethereum blockchain (ERC20) at inception but will be bridged through all chains after launch. RENQ has a total supply of 1 billion tokens, of which 50% are allocated for public sale. RENQ token holders can enjoy various benefits such as governance rights, fee discounts, staking rewards, and launchpad access.
RenQ Finance (RENQ) has received positive feedback from its community members, who eagerly participate in its presale. According to some market experts, RenQ Finance (RENQ) is the best long-term crypto hold of 2023 due to its innovative technology, user-friendly platform, diverse services, strong community, and high growth potential. An analysis of RenQ’s presale performance predicts a 75x increase past $1.5 by the end of 2023 and a price between $3 and $5 by 2025.
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Visit the links below for more information about RenQ Finance (RENQ):
Website: https://renq.io
Whitepaper: https://renq.io/whitepaper.pdf
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