Dogecoin, once a titan promising meteoric gains, has seen its popularity wane amid a wave of new meme coins. After a market-wide downturn that saw Dogecoin fall over 73%, Dogecoin is now consolidating after breaking out of a descending trendline.
Shiba Inu is also down 69% from its peak price. SHIB is, however, rebounding with support established at the $0.0000120 level. Can SHIB and DOGE bring about massive gains as it was back in 2021?
While Dogecoin and SHIB struggle to regain their previous hype, Remittx’s RTX presale is gaining traction, raising over $14.6 million. RTX powers Remittix’s innovative cross-border payment solution set to disrupt a potential $250 trillion industry.
Dogecoin is consolidating after a 73% downturn
The market downturn that saw most cryptocurrencies shed their previous gains did not spare Dogecoin, whose price dipped over 70% to settle below the $0.15 zone. While DOGE has since rebounded, with its price now consolidating at $0.17, the previous hype around the leading dog-themed meme coin has somewhat waned.
Even so, analysts are forecasting a bullish resurgence for DOGE, whose price often recovers in May. Some of the bullish predictions from popular analysts have set targets at DOGE’s previous ATH of $0.74. However, this bullish outlook hinges on DOGE’s capacity to close the month of April above $0.20.
Shiba Inu registers a near 10% uptick, triggering fresh buyer momentum
Dogecoin is not the only OG meme coin struggling to gain traction. Shiba Inu, a close rival to DOGE, is also struggling to gain traction despite a strong move to defend critical support around the $0.00001324 zone. While there is a clear indication of interest from buyers after the deep pullback that saw SHIB’s price fall 69%, a recovery for SHIB remains to be seen.
Similar to DOGE, SHIB is showing renewed strength with an extended consolidation phase that could result in a golden cross forming on its 23-day and 50-day moving averages. At its current rate of $0.00001370, SHIB is approaching a momentum shift as market resistance wanes. Can SHIB reignite investors’ interest this altcoin season?
Remittix RTX presale raised over $14.6 million, surpassing expectations
As Dogecoin and SHIB struggle to regain previous hype and interest from buyers, experts are pointing to Remittix as the newfound cross-border payment platform set to replace XRP. Remittix’s ongoing presale has so far raised over $14.6 million in a bid to support a PayFi protocol set to lead the charge in a potential $250 trillion remittance industry.
Remittix’s approach is simple: a user can send funds directly from their crypto wallet to a recipient’s bank account. Through Remittix’s global payment network and support for more than 30 fiat currencies, the complexity of dealing with crypto wallets is obscured from recipients who can still receive the funds in conventional ways and at zero extra fees.
By facilitating a crypto-to-fiat payment network, Remittix goes above and beyond the limitation that most cross-border payment solutions come with. Compared to the likes of XRP, Remittix’s RTX leverages the blockchain as well as local payment networks, thus giving crypto holders a speedy route to send and receive funds. Merchants are also empowered to receive crypto payments through Remittix’s Pay API.
Compared to Dogecoin, RTX is worth buying as it has the potential for higher returns, especially at launch. At the moment, RTX’s price is discounted at $0.0757.
Discover the future of PayFi with Remittix by checking out their presale here:
Website: https://remittix.io/
Socials: https://linktr.ee/remittix
Disclaimer: This is a Press Release provided by a third party who is responsible for the content. Please conduct your own research before taking any action based on the content.
Maisie is an experienced Crypto & Financial news journalist, having written for Moneycheck.com, Blockonomi.com, Computing.net and is Editor in Chief at Blockfresh.com
