Is Shiba Inu Still Worth It In 2024? See 3 Altcoins Promising Better Returns

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As a seasoned researcher with years of experience in the crypto market, I have witnessed numerous trends and shifts in the digital currency landscape. While Shiba Inu (SHIB) may have been a popular choice in its heyday, it’s essential to keep an open mind and explore other promising altcoins that could offer better returns.

In the realm of cryptocurrencies, investors are always on the hunt for the next major breakthrough. Initially, Shiba Inu was a popular pick within the crypto market. However, it has encountered several hurdles like market volatility and heightened competition. As a result, some are questioning if there’s still potential for expansion among top altcoins for this digital currency.

In this write-up, we’ll delve into three different digital currencies – Bitcoin Cash (BCH), Chainlink (LINK), and FXGuys ($FXG) – that could potentially outperform Shiba Inu (SHIB) in terms of returns by 2024. Let’s take a closer look!

Link’s Cloudy Prospects: Analysis of On-Chain Data Shows a Drop, Yet Integration Progression and Social Activity Spark Hope

Over the past month, the Chainlink network has seen a decrease of roughly 2,000 active addresses, based on recent analysis. This decrease is attributed to a drop in cash flow within the altcoin sector, which is being affected by the underperformance of Bitcoin and Ethereum ETFs in the U.S. market.

Despite the U.S. Federal Reserve suggesting a potential interest rate reduction on September 18, 2024, there’s still hesitation among investors due to uncertainties surrounding the approaching elections, which is dampening optimistic market feelings.

Despite some challenges, the community behind Chainlink has continued to grow its international partnerships. In the last week alone, several DeFi protocols have integrated with Chainlink to enhance future compatibility. Notable integrations include Ambit Finance, Euler Labs, JOJO exchange, Tadle, and zkLend, as well as others.

1) It appears that these latest integrations could hint at an imminent boost in optimism for Chainlink, with its price trend possibly turning bullish. Moreover, the level of conversations about Chainlink on social media platforms has peaked this year, which might suggest a positive signal if market conditions stabilize.

Currently, the price action of LINK is fairly static. The current trading price stands at $10.34, marking a 3.90% decrease from last week when it was at $10.76 on September 2. Despite this recent drop, optimistic analysts are still bullish due to the positive shift in Chainlink’s Market Value to Realized Value (MVRV) ratio. This indicates a potential increase in the token’s value, potentially reaching $15.00 within the short term.

Instead, it seems that many people holding this LINK are presently at a loss, and there’s a significant cluster of buy orders around $10.52. This suggests weak support, which might lead to a drop in price down to $9.72.

Nobuaki Kobayashi, the trustee overseeing the MtGox rehabilitation process, has made the latest payments to creditors in Bitcoin and Bitcoin Cash as part of the ongoing plan to settle debts. This is significant because MtGox, a bitcoin exchange, went bankrupt in 2014 following a massive theft of thousands of Bitcoins. The fact that recoveries are still being made shows substantial progress.

Over the past few days, Bitcoin Cash (BCH) has been experiencing a decline in value. According to CoinMarketCap data, BCH was trading at approximately $323.73 on September 2, 2024. However, it has since dropped by around 5.72%, with the current price being roughly $305.22 as of now.

As a crypto investor, I’m keeping a close eye on the market trends, and although the current state might seem uncertain, there are some experts who remain hopeful. The early signals from the Momentum Indicator and Relative Strength Index (RSI) hint at a potential shift towards bullish momentum. If this upward buying trend continues, Bitcoin Cash might just break through its critical resistance level of $339.67 in the coming weeks, indicating a possible reversal for one of the leading altcoins.

From my perspective as an analyst, I find myself aligned with those who express pessimism towards Bitcoin Cash due to its current price sitting below the 50-day Exponential Moving Average (EMA) at approximately $347.33. This positioning indicates a potentially strong downward trend in the short term.

Additionally, the MACD line is positioned below the signal line, suggesting it may be heading downwards. This could lead to a decrease in BCH‘s value, possibly dropping to around $290 within the next two weeks.

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Join The FXGuys Project Now For Massive Forex Trading Gains

FXGuys represents a cutting-edge, decentralized Forex trading system that leverages blockchain technology to revolutionize the way people and organizations participate in the global foreign exchange market.

FXGuys strives to create a trading atmosphere that is open, safe, and influenced by the community, using decentralization, which eliminates the need for intermediaries and provides outstanding access to liquidity resources.

FXGuys has recently introduced an innovative program called Trade2Earn, under which traders can receive $FXG tokens with every trade they make, regardless of whether the trade results in profit or loss. This unique feature ensures that traders are rewarded for all their trading activities, allowing them to accumulate tokens and enjoy various exclusive benefits.

These benefits include access to lower profit targets, increased drawdown limits, and other essential tools designed to boost overall trading performance, making the platform more appealing to users at all skill levels.

Besides its profitable trading structure, FXGuys additionally offers a Proprietary Trading Fund Program. This program allows traders to handle substantial capital, up to $200,000. This funding option is particularly beneficial for aspiring traders who wish to take larger trades without personally investing their own funds at risk.

At FXGuys, there’s a profit-sharing system that is both just and clear, empowering traders to retain up to 80% of the profits generated by their trading activities. This approach motivates traders to perform at their best and cultivates a collaborative atmosphere where the platform and its users can prosper jointly.

In simple terms, the $FXG token is a crucial part of the FXGuys ecosystem, playing multiple roles. It’s used primarily as a means of payment for transaction fees, staking, and making decisions within the platform. This token is tightly knit into the platform’s operations.

Users get the opportunity to take part in governing the platform by owning $FXG tokens, helping shape its future direction and fostering its expansion and improvement. Additionally, they’ll unlock unique benefits and premium offerings designed to enhance their trading journey.

$FXG Offers You a Chance to Make Massive Profits as Other Altcoins Struggle

Amidst the fluctuating financial market, $FXG emerges as an attractive prospect for investors looking for substantial profits and groundbreaking technology. Its remarkable return possibilities and industry experts’ recognition as a top cryptocurrency to invest in, position $FXG for prosperity.

The ongoing presale offers a unique opportunity to invest, with the seed round priced at $0.01 per $FXG token and potential gains of up to 900% by the launch price of $0.10. 

After a highly-demanded seed funding round that was fully subscribed via emails within one day, the current stage is a private sale at $0.015 per unit.

In just ten days, you’ll have an opportunity to join the public pre-sale. This could offer returns as high as 556%! Don’t let this chance slip away to invest in FXGuys’ groundbreaking blockchain tech. With such potential for significant gains, it’s a risk worth taking!

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2024-09-14 09:16