Meme coins like Shiba Inu and Pepe are seeing renewed price pressure despite the positive sentiment in the overall crypto market. Recent price movements have left many traders and retail investors feeling frustrated. Smart money has started moving to projects with real-world utility, as conversations about the projects retail capital might move to next are heating up.
Remittix (RTX) is one of the projects drawing market attention through its presale, which has continued to grow in momentum. Analysts suggest that its focus on resolving the long-standing issues in cross-border payment makes it a good alternative for memers and degens in search of the next 100x this cycle. Let’s get into the details.
The aggregate market capitalization now sits at $3.82 trillion, a mild 1.2% nudge from the day before. The market entered this month on a high, several alts are recovering from the correction in late August, but Shiba Inu (SHIB) has struggled to keep up. The Shiba Inu price trajectory displayed sinusoidal movements since the start of the week, rising and falling with market volatility.
As of the time of writing, Shiba Inu was exchanging hands at $0.00001227, representing a mild 0.37% decline from its opening price seven days ago. Analysts trace this losing momentum to waning meme interest and a steep decline in activity on Shibarium, Shiba Inu’s Layer-2 network, where transactions have recently hit new monthly lows.
Adding to the selling pressure, market maker Wintermute recently transferred $11.4B worth of SHIB to Coinbase. Large whale movements like these tend to affect retail sentiment, prompting smaller investors to trim profits and seek more stable opportunities in projects like Remittix, a project with a real utility targeting a 190T market.
Pepecoin is another meme coin headlocked in the red zone; the asset has consistently replaced the past support levels as new resistance levels. Pepe price is currently trading at $0.00000961, recording a 4.56% week-long slump.
The past few weeks have been followed by back-to-back breakdowns of support levels, which then flipped into resistance, a bearish cycle that has left many Pepe holders. In late August, the asset added a zero to its price, slipping further down the ladder. Bulls have since attempted to erase that zero, but their efforts have proven futile as bears maintain control.
Retail investors and memers, especially holders of Shiba Inu and Pepecoin, are accumulating Remittix (RTX) tokens, contributing to the 23.4 million raised in investor crowdfunding. But this isn’t without a good reason. The relatively new project is a multi-trillion-dollar solution that offers real utility. Remittix is a cross-border payment solution designed to enable fast, low-cost, and direct transfers between users worldwide.
Security has also been a priority. Solidproof and BlockSAFU audits confirm the infrastructure is built on trust and transparency. On top of this, RTX has already secured CEX listings on BitMart and LBank, with more listings expected this quarter. Analysts suggest RTX has all the makings of a potential 100x performer this cycle.
Discover the future of PayFi with Remittix by checking out their project here:
Website: https://remittix.io/
Socials: https://linktr.ee/remittix
$250,000 Giveaway: https://gleam.io/competitions/nz84L-250000-remittix-giveaway
The post Shiba Inu And Pepe Price Declines Push Traders Into Remittix Presale, Which Analysts Expect To Explode Soon appeared first on Blockonomi.
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