In recent weeks, the cryptocurrency market has observed a decline in interest towards meme coins Shiba Inu and Dogecoin, while DeSoc ($SOCS) offers innovative solutions.
Utility of DeSoc ($SOCS) in the Market
As meme coins like Dogecoin and Shiba Inu lose their allure, DeSoc ($SOCS) presents unique opportunities in the crypto platform. The project, which has garnered $10 million in investment, aims to support Web3 creators by offering decentralized solutions lacking in centralized platforms such as Facebook. DeSoc promises to use smart contracts to create a transparent and reliable environment for users. Key features include integration with other social networks, governance tokens for user rewards, and content monetization models.
Declining Interest in Shiba Inu
The price of Shiba Inu has fallen by 20% in the past month, and investor activity is decreasing. According to IntoTheBlock data, the number of transactions over $100,000 decreased by 10%. Moreover, the Total Value Locked (TVL) on Shibarium has dropped from $6.44 million to $1.93 million, which may negatively impact the SHIB price, especially considering the drop in network activity.
Technical Challenges for Dogecoin
Following a recent 27% surge linked to ETF discussions, Dogecoin faces challenges. The support level that Dogecoin is testing becomes critical for further growth. Analysts warn of the possibility of a decline, although the overall trend remains positive. The closing price at $0.26 was the first in 11 months, but Dogecoin has already retraced by 14% from its peak.
Current updates and predictions for Dogecoin and Shiba Inu demonstrate waning interest in these assets, while DeSoc ($SOCS) gains investor attention for its real-world applications and strong fundamentals.
