Shiba Inu (SHIB) has recently been on an upswing, soaring 33.75% in the past month. Trading volume has also increased, indicating price momentum. But will Shiba Inu sustain this momentum to break its 2021 high? Also, why do analysts advise buying Retik Finance (RETIK)?Retik Finance is an Ethereum-based DeFi sensation that has caught the attention of investors with its unique value proposition. Retik bridges the digital and traditional finance divide, opening up new opportunities for cryptocurrency investors. Buying pressure in its recently launched presale campaign has sent its price up by more than 65% in just over a week. Investors have committed over $1.5 million, indicating their confidence in the project’s potential. But this is not the only reason why analysts have endorsed Retik. Its allure goes deeper than the potential for a quick buck. Read on to find out.
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Will Shiba Inu reach a new ATH in 2024?
Shiba Inu (SHIB) was founded in 2020 by an anonymous developer or group of developers under the pseudonym Ryoshi. Shiba Inu dominated the crypto market during the 2021 bull run, briefly overtaking its core competitor, Dogecoin, in market capitalization. On October 8, 2021, SHIB reached an all-time high of $0.00008819 and exceeded a market cap of $40 billion. Shiba Inu is currently hovering around $0.00001072, having shed much of its value from the 2021 bull run. Its market cap has dropped to $6.2 billion. Shiba Inu began its decline during the 2022 crypto winter, which was caused by several factors, including the collapse of major crypto firms such as 3AC and FTX, profit-taking, and strict cryptocurrency regulations around the world. SHIB plunged to a cycle low of $0.000005603. The meme coin has, however, recovered in 2023, climbing 23.03%.Shiba Inu’s probability of a rally to a new ATH in 2024 is low but not zero. While recent gains show renewed potential, SHIB faces stiffer competition than ever. Shiba Inu only had Dogecoin and Floki as its main meme competitors in 2021. However, in 2023, SHIB is up against many shinier, fast-growing meme coins like BONK and PEPE, all sharing the same pool of investors. If SHIB is to gather enough momentum to create a new ATH, it must capture a large portion of these investors.
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Retik Finance (RETIK) to outperform SHIB
A recent shift in investor interest from meme coins to utility-based tokens exacerbates Shiba Inu’s already difficult situation. Retik Finance (RETIK) is one utility-based token that has proven to be a tough competitor. According to analysts, the new market entrant will outperform SHIB in 2024.Retik’s potential stems from its ecosystem of unique products and features. One of the standout features of this ecosystem is the Retik DeFi debit cards. These cards allow users to spend their cryptocurrencies on everyday expenses, such as grocery shopping, without hassle. The cards, linked to the user’s DeFi wallet, support crypto-to-fiat conversion, allowing users to spend their assets even where direct crypto payments are not accepted. Additionally, card holders qualify for up to 5% in cashback rewards with each purchase.Retik Finance’s DeFi wallet supports traditional decentralized activities such as swapping, staking, mining, shorting, lending, and borrowing. The wallet is multichain, pooling liquidity from various decentralized exchanges to maximize profit potential.Retik Finance also offers Retik Pay, a payment gateway for businesses and merchants looking to integrate cryptocurrency payments. It is inexpensive, with a mere 1% transaction fee, provides faster checkouts, and can be integrated with any e-commerce platform.These features give RETIK more utility value than SHIB, a mere meme coin, while presale success lays the groundwork for a face-melting liftoff in 2024. RETIK is currently priced at $0.05 in the third stage of the presale. The market launch price will be $0.15, providing stage three investors with a 3X return. Following the launch, market analysts predict a 100x rally, with Retik breaking above $15 during the 2024-25 bull cycle. This makes the token one of the best buys of 2023. While the presale is underway, Retik Finance is holding a giveaway for its early supporters, where lucky winners walk away with up to $333k in RETIK rewards.
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Visit the links below for more information about Retik Finance (RETIK):
Website: https://retik.com/
Whitepaper: https://retik.com/retik-whitepaper.pdf
Linktree: https://linktr.ee/retikfinance
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