The meme coin arena acts as an excellent testing ground allowing investors to gauge overall market sentiment. An increased appetite for these explosive ERC20 coins means risk-on. But diving deeper into the genre, fickle investors frequently chop and change their portfolio holdings.
Shiba Inu (SHIB) is down 90% from its all-time high, and more meme coin holders are buying DigiToads (TOADS). Why? Analysts dived into the TOADS whitepaper and have classified it as what they call a ‘third-generation meme token’ given its integration of utility alongside virality.
DigiToads (TOADS) Memes Meet Utility
DigiToads buy pressure has spiked, and presale funding eclipsed $6 million. Analysts reviewed the project and gave it a bullish rating, predicting a 450% rally before the presale closes and a larger 1,200% rally by the year’s end.
The Swamp (the DigiToads ecosystem) sets it apart from its competitors and explains investor demand. One of the core standout features is NFT staking, introducing a new utility for NFTs. All owners of DigiToads NFTs will be able to stake them on August 21st and begin receiving consistent payouts- a great NFT to buy for users who like passive income.
Another growth driver has been The Swamp’s taxation system called the Toad-Tax. 2% of transactions leaving and entering The Swamp get burnt. Burning campaigns have become the norm in the memecoin genre, but TOADS’ campaign kicks it up a notch, and this rapidly deflating supply should put sharp upward pressure on price.
The Trading Post (the native DEX) gives users another earning zone by swapping or providing liquidity and retains all value within the broader TOADS ecosystem. This feature of value retention is a running theme, and the flywheel effect for long-term $TOADS holders will be incredible to watch over the next six months.
DigiToads is also one of the few DeFi companies making a difference in the real world with its charity initiatives to preserve the Amazon rainforest. A memecoin changing the world and sending holders’ portfolios soaring- easily one of the best altcoins to invest in this year.
Shiba Inu (SHIB): The Long Road Ahead
Shiba Inu (SHIB) has seen a drastic retracement since its peak of the last bull market in 2021. Cheap liquidity and stimulus cheques for retail investors pushed this dog-themed token to astronomical heights. But will it ever reclaim these heights? Price forecasts from analysts indicate no, with an expected range of $0.00001244 to $0.00001574 for $SHIB in 2024.
Shiba Inu (SHIB) has upgraded significantly at the protocol level introducing a layer two chain, a Metaverse project, Shiboshis (an NFT collection), and more. Shibarium has executed nearly 30 million transactions proving its excellent product market fit. Still, the grim reality is that a majority of $SHIB holders face unrealized losses, and there will be significant sell pressure on the way up.
Closing Thoughts: The Attention Economy & Investor Fatigue
From an RIO perspective, the best altcoins to own for the coming cycle have small market caps and no underwater holders waiting to sell into any pumps. And that is why projects like DigiToads will outperform Shiba Inu (SHIB) in the bull market.
Two other metrics investors should watch are the ability for a memecoin to attract attention, which in the modern economy front runs capital. And secondly, investor fatigue. Tokens in the meme genre are heavily affected by this, and this metric explains why $PEPE rapidly outclassed $SHIB and $DOGE. Join the TOADS presale today and join the growing number of holders on their leap to the moon.
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