Shibarium Tops 3-Million Transactions, But Shib Falls As Rival Golden Inu (Golden) Shows Signs Of Strength
The great contribution that Shiba Inu has made to its ecosystem—the layer-2 blockchain known as "Shibarium"—has now hit a significant new benchmark. Even though there was a lot of chaos during the debut of Shibarium, when the blockchain had to be put into private mode because millions of dollars worth of investors' money was stranded on an Ethereum bridge, the company seems to be headed in the right direction. Shibarium has recently exceeded the threshold of 3 million transactions, which indicates that the platform is gaining in popularity. The site has only been available for about 2 months since its introduction.
Despite this, the success of Shiba Inu has not been reflected in the price of the native token known as SHIB. The value of the token has decreased by about 3% over the course of the month, and ever since the launch of the blockchain, Shiba Inu has been unable to reverse its downward trend, trading on roughly 40% losses on the yearly chart. Despite this, the token continues to be traded.
Additionally, it appears that the practice of burning tokens is becoming less common with time. The pace at which Shiba burned calories dropped by one-half in comparison to the previous month.
Due to the fact that the token's value has not changed despite the widespread adoption of blockchain technology, investors are currently debating whether or not they should diversify the assets in their wallets and hunt for more promising tokens that are capable of producing tangible returns during the subsequent season of cryptocurrency trading.
The Golden Inu Is Getting Ready For Another Rally
Shiba Inu's primary competitor appears to be in good health today, despite having seen a price retraction following a 132% increase in price during the month of September. Multiple lines of evidence point to the fact that the "Shiba Inu Killer" is getting ready to hold another rally.
Golden Inu (GOLDEN) BEP-20 token, an asset that was released in February on the Binance Chain, gained notoriety during the entirety of 2023 owing to the fact that it experienced extraordinarily bullish times, frequently rewarding investors with gains that were greater than 1000% of their initial investment.
Now that the project is nearing its conclusion for the year, investors of $GOLDEN are hopeful about the possibility of gaining even more value throughout this season. The present price of $GOLDEN, which is $0.0000000006608, seems to be getting ready to drop another zero in price as soon as the month of October comes to a close.
The token recently reached its all-time high price, and as the project expands in both the solidity and value of its ecosystem, $GOLDEN may be getting ready for another attempt at ATH any time soon. The token's price recently reached its all-time high price.
The price-analysis and momentum oscillator assessment tool known as CRSI (Connors Relative Strength Index) suggests that the price of $GOLDEN is hitting "oversold" levels, despite the fact that its value has not decreased over the previous several weeks. This is the case despite the fact that $GOLDEN has not been trading at a loss.
As a result, there is a possibility that there will be a large increase in value during the month of October. Investors who enter the community of holders of $GOLDEN this month stand a chance to reap returns of around 150% if the price of the cryptocurrency reaches ATH.
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