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Shiba Inu Price Is Plunging! This Asset May Undergo SHIB-Like Rally Next?

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Shiba Inu is currently falling down the stairs of the market chart. However, the coin has managed to create a strong support level for itself. And is consolidating at acceptable levels. Investors and traders in the space are in search of digital assets. Which offers exponential ROI in the short run.

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Several coins in the market have surged exponentially, in the uptrend. Giving returns as high as ~700%. This has lured buyers in the industry, to part ways with prominent assets which are relatively less volatile. Metaphorically the fame seems to be moving from one asset to another. And traders are anticipating the next one.

Consecutively, the return on investment by Fantom(FTM) from the 1st of August till date is an astonishing ~770%. Followed by Axie Infinity(AXS) which gave returns of ~260%. From the start of the 8th month, until its peak lately. While the value is down by ~21% since its peak. Solana(SOL) on the other hand did return an impressive ~480% gain. From August 1st till its ATH on the 9th of September, while the dip is at 27%.

Not to forget DYDX, which did create a significant buzz in a short time frame. Rose ~95.74% since the 8th of September, hitting its ATH on the last day of September. The dip is a respectable ~21%. Shib has returned ~400% in a week’s time which is exceptional. The coins have managed to hold the prices, satisfactorily after a massive run. The respective statistics are from press time.

Also Read : Avalanche Price Prediction: Will AVAX Price Hit $100 in 2021?

Traders Watch Out for These Valuables!

The ever-growing crypto industry is creating newer opportunities for another tech from the blockchain industry. The world of NFTs, and decentralized applications are garnering the interest of enthusiasts in the space. Celebs and influencers are keen on NFTs. NFTs are exploding the gaming sector with massive fundings. While dApps are gaining the avid interest of people from fintech.

Axie infinity receives $152 million in funding for the play-to-earn NFT game, at a $3 billion valuation. The game uses cryptocurrency tokens to reward players and make in-game purchases. Sources suggest that the game accounts for over $500 million in NFT token sales. With all-time sales totaling $2.2 billion.

Sorare, a soccer game based on NFT, raised $680 million in funding. The game enables, players, to officially, buy licensed cards representing soccer players. The cards in the game are traded in the form of NFTs. 

De-Fi project Strips Finance raises $8.5 million to launch interest rates trading platform. The platform is being built on the Ethereum scaling solution Arbitrum. Which uses rolls up technology. The funding raised is from the sale of private tokens. The capital inflow comes after a $2.5 million injection in June. Bringing its total funding to $11 million.

Summing up, NFTs and dApps are on the move. And have been receiving funding, and acceptance at the forefront. The platforms are performing exceptionally well, in terms of fundamentals and the protocol underlying. These owe the potential to return higher returns on investments. Possibly, more investors will get into NFTs and De-Fi during this uptrend.

Also Read : Is This the Right Time To Buy Crypto? SOL, LUNA, and DOGE Could Breakout!

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Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Mustafa Mulla

Mustafa has been writing about Blockchain and crypto since many years. He has previous trading experience and has been working in the Fintech industry since 2017.

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