According to data from CoinGecko, The crypto market has shown signs of recovery, with its total market capitalization at around $1.2 trillion, dropping to around $875 billion as of June 19. Thanks to lower-than-expected inflation prints out of the US last week, which boosted hopes that the Federal Reserve might be able to ease off its rate hikes, helping riskier assets like crypto enter the green territory.
On the back of this news, dog-themed meme coins jumped on Monday amid broader retail-investor enthusiasm in the market, mainly as Ethereum (ETH) works toward its much-anticipated software upgrade. In today's editorial, I will look into factors that triggered the growth of two of the most popular meme coins and see if an upcoming Revolutux project can keep up with the rest of the crypto flock. Let's dive in.
Shiba Inu Could Soar By 50%
Shiba Inu (SHIB) has gained almost 40%, as per data from Bloomberg. The meme coin is holding its gains even as Bitcoin (BTC) fluctuates around $25,000 and Ethereum hovers at about $2,000 amid optimism around its upgrade, known as Merge, now expected around Sept. 15. Shiba Inu has broken out over the weekend, which is clear evidence that the retail investor is back, meaning there is an optimism that the coin will follow Ethereum as it travels north after upgrades are completed.
Although Shiba Inu's 27% intraday price rally on Aug. 14 had no visible catalysts except a metric showing that SHIB's burn rate surged by 825% in a single day. Additionally, the Shiba Inu rally came almost ten days after BINANCE announced to add SHIB support on its payment cards issued in Europe. This move is believed to raise SHIB's potential to find new users in the emerging European cryptocurrency markets. All in all, the future of Shiba Inu looks promising, foreshadowing more spikes as we approach September.
DogeCoin Is Back In Top 10 Cryptos By Market Cap
Source: Finance Magnates
After the weekend, DogeCoin (DOGE) gained 15% before a price reversal in European morning hours as investors reap profits. At the time of writing, DOGE entered the top ten cryptocurrencies by market capitalization with a total valuation of just over $10 billion, leaving ahead of Polkadot's DOT tokens. The last time the coin enjoyed a spike of this magnitude happened in early June, so the fans of the DOGE community are eager to see their favorite meme residing in the green territory again. Although lacking the market depth of Ethereum or Bitcoin, this meme coin, along with overall demand for other cryptos, rises following speculations and generally positive sentiment among the investors.
Revolutux Deflationary Coin: DeFi, NFTs and More
According to CryptoMode, this new project harnesses the power of arguably crypto's three most profitable branches: DeFi, NFTs and DAO (decentralized autonomous organization). The range of decentralized finance services it provides ranges from swapping tokens where you benefit from decentralized and on-chain transaction settlement to staking, where users can participate in the networks to stake digital assets for rewards.
The Revolutux (RVLT) project will also have its own marketplace for users to mint unique NFTs and trade them easily for fiat or different cryptocurrencies. On top of that, a DAO will be implemented to facilitate the project's smooth development and shift the power to the community in a decentralized fashion. This would make the platform's governance directly responsive to the most active users, bringing the Revolutux platform closer to becoming a good public run by those who value it the most.
If you are interested to learn more about the Revolutux project visit this website.
Revolutux (RVLT)
- Presale: http://begin.revolutux.com/
- Website: http://revolutux.com/
- Telegram: https://t.me/RevolutuxOfficial
