The cryptocurrency market is experiencing shifts as Shiba Inu and Dogecoin lose ground while new project Remittix attracts investor interest.
Shiba Inu Struggles
Shiba Inu is facing challenges maintaining its positions. Currently trading around $0.00001250, it has formed a Cup and Handle pattern which could help reach $0.0000239 if the resistance at $0.00001710 is breached. However, a weak support level at $0.0000103 could lead to a drop, jeopardizing the bullish trend. An increase in trading volume by 118% to $361 million indicates the presence of buyers, but many holders are diversifying into new projects.
Pressure on Dogecoin
Dogecoin's price is also fluctuating, currently around $0.22 and testing the crucial support at $0.20. Technical charts show the formation of a symmetrical triangle, with $0.25 as the ceiling that must be broken for an upward rally. Failure to do so could push the price down to $0.19 or even $0.17. Futures data shows an increase in risks: open interest in DOGE contracts has fallen by 5% to $3.26 billion, reflecting weak conviction among investors.
Rising Trend of Remittix
Amidst the instability in Shiba Inu and Dogecoin prices, the Remittix project is gaining attention. With over $21.6 million raised since launch, it is becoming one of the most successful ICOs today. Unlike meme coins, Remittix offers real utility by enabling cross-border payments and providing a mobile-first experience, making it more attractive. Anticipation for the upcoming CEX listing positions Remittix as a potential leader in the PayFi sector.
The shift from long-term market favorites to new projects like Remittix may signal a major shift in investor preferences within the cryptocurrency space.
