Shiba Inu Supply on Exchanges Drop To New Lows, Dogecoin Declines As Holders Show Interest in New Token
Release: 2024/05/02 01:04 Reading: 229
TLDR:
According to CryptoQuant, the number of Shiba Inu tokens on exchanges has been decreasing over the last six months.
Dogecoin has come under bear pressure and suffered losses on the weekly and monthly price charts.
Rebel Satoshi Arcade has attracted the interest of DOGE and SHIB holders with its gaming ecosystem.
CryptoQuant Data Indicates Bullish Trend for Shiba Inu
CryptoQuant data shows that Shiba Inu's supply on exchanges has consistently decreased for the past six months, a bullish sign. On the other hand, Dogecoin has experienced bearish pressure on both weekly and monthly price charts. Amidst these changes, a new meme coin, Rebel Satoshi Arcade, has garnered attention among DOGE and SHIB holders with its unique gaming ecosystem.
Rebel Satoshi Arcade (RECQ) Hybrid Network Attracts Investors
Rebel Satoshi Arcade (RECQ) is a novel gaming platform that combines memecoins, play-to-earn features, and non-fungible tokens (NFTs) into a single ecosystem. This unique approach allows players to enjoy various arcade games while also exploring the world of NFTs.
The play-to-earn model is a key feature of Rebel Satoshi Arcade, enabling players to earn while playing games. Users can also collect NFTs, gaming assets, merchandise, and free RECQ tokens through gameplay and social interactions. These tokens can be used to purchase additional gaming assets and NFTs, unlocking new games.
This fusion of meme coins, NFTs, rewards, and diverse games positions Rebel Satoshi Arcade as a compelling DeFi project to join. Meanwhile, Rebel Satoshi's native token, RECQ, has garnered significant interest during its cryptocurrency ICO. Priced at $0.0037, RECQ is expected to rise to $0.0044 in the near future. Analysts anticipate a bullish trend, with RECQ projected to surge by 200% before the presale concludes.
Shiba Inu (SHIB) Reserves on Exchanges Decreasing
Shiba Inu (SHIB) recently faced resistance around the $0.000028 mark before initiating an uptrend towards $0.000030. However, bulls were unable to sustain the momentum, and SHIB's price fell to $0.00002457.
Despite this, there is hope for SHIB's price growth. CryptoQuant data suggests that SHIB's supply on centralized exchanges has been steadily decreasing for the past six months. This indicates that Shiba Inu meme coin investors are holding onto their coins, a bullish sign.
Dogecoin (DOGE) Suffers Price Declines on Weekly and Monthly Timeframes
While other memecoins have recovered from the recent crypto market sell-off, Dogecoin (DOGE) remains under bearish pressure. Excluding the 78.1% gain on the yearly price chart, DOGE's price has declined by 3.1%, 24.6%, and 21.7% on the 7-day, 14-day, and 30-day price charts, respectively.
Regarding DOGE's market performance, the meme coin has been consolidating between $0.1481 and $0.1637. If this bearish sentiment persists, DOGE may fall to lower levels in the coming weeks.
Final Thoughts
As Shiba Inu and Dogecoin experience price fluctuations, investors may consider embracing new meme tokens such as Rebel Satoshi Arcade. Its combination of meme coins, play-to-earn features, and NFTs makes it a compelling investment opportunity for those seeking to grow their assets.
For the latest updates and more information, visit the official Rebel Satoshi website or connect with Rebel Red on Telegram.
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