It can be said that the entire virtual currency market is in a difficult situation, but the performance of Dogecoin (DOGE) and Shiba Inu (SHIB) is particularly poor. Although these tokens were trading at their highest prices in 2021, they have lost around 80% of their value since then and their future prospects look very slim. The current crisis may be related to several factors, including macroeconomic impacts and more general market developments that have also damaged important cryptocurrencies such as Bitcoin.
Relationship with Bitcoin
The large correlation between Dogecoin and Shiba Inu explains one of the main reasons for their decline in value: Bitcoin. According to data from IntoTheBlock, Bitcoin, Dogecoin, and Shiba Inu each have a price correlation, so they tend to follow the price movements of the leading cryptocurrencies. DOGE and SHIB took a big hit as Bitcoin fell below $56,000 on September 5, 2024. Dogecoin fell to $0.096 and Shiba Inu fell to $0.00001309. Macroeconomic events such as the continued impact of yen carry trading and its relationship with the stock market, which also suffered heavy losses, are slowing the growth of the larger Bitcoin market. These events reduced investor confidence, resulting in reduced trading in DOGE and SHIB. CoinMarketCap reports that Shiba Inu fell by 12.86% and Dogecoin trading volume decreased by more than 3%.
Past patterns and bearish opinion
Historically, September has not been a good month for Dogecoin, as both coins have lost money every month in most years since they first appeared. In 2021, when the mass market was in a strong bullish phase, it was the last time we saw a significant rally during this period. SHIB risks falling below $0.000010 if it hits psychological support at $0.000013, while DOGE faces a key support level at $0.077. Even amidst the difficulties meme coins are experiencing, other cryptocurrencies are beginning to show greater potential. Rexas Finance (RXS) is one such initiative that has recently gained popularity due to its creative approach to tokenizing real assets. Unlike meme coins, which often rely on hype and community-driven movements, Lexus Finance uses blockchain technology to digitize and fragment traditional assets such as real estate, merchandise, and collectibles. and focuses on solving real-world problems.
Rexas Finance (RXS): Another option to gain momentum
Currently in the pre-sale phase, Rexas Finance offers investors the chance to purchase RXS tokens at a discounted price. The pre-sale experienced quite an amazing expansion as the token price rose from $0.03 in the first stage to $0.06 in the fourth stage. Rexas Finance is rapidly gaining investor interest, with over 90 million tokens traded and over $4.2 million raised. The expected listing price is $0.20, indicating significant upside potential for early adopters. Rexas Finance launches $1 million gift program. This will allow 20 lucky winners to each win $50,000 worth of RXS tokens, further increasing their participation. Participants can increase their odds by completing several tasks, such as entering an ERC20 wallet address, completing quests, and inviting friends to get additional entries. This community-oriented strategy aims to increase the platform’s user base and honor its original supporters.
Characteristics of Lexus Finance (RXS)
Rexas Finance stands out from other companies with some special attributes that help boost its momentum.
Rexas Finance streamlines the process of digitizing traditional assets, thereby facilitating fractional ownership and increasing liquidity in previously illiquid markets. This will democratize access to assets and allow smaller players to enter areas such as real estate that were previously limited to the wealthy.
Rexas QuickMint Bot: Designed with popular messaging apps like Telegram and Discord, this platform integrates easy-to-use bots. The bot allows users to easily start and run token projects, making the platform accessible to non-technical people. Rexas Finance provides consumers with freedom and choice for their asset management needs by supporting token creation on numerous Ethereum Virtual Machine (EVM) compliant blockchains. Advanced artificial intelligence and blockchain technology are built into the platform to improve security, reduce costs, and speed data tokenization.
Can SHIB and DOGE rebound?
Meme coins like Shiba Inu and Dogecoin have a history of rapid price fluctuations, but their reliance on social media buzz and community opinion poses great risks. Macroeconomic challenges and current bearish trends preclude a short-term recovery unless more general market conditions improve. A project like Rexas Finance, centered around useful applications and real-world scenarios, has a strong foundation for expansion. Real-world asset tokenization offers investors a more sustainable and creative way to make crypto investments, while meeting a clear market demand. Rexas Finance is a great option with great upside potential for those who want to diversify their portfolio or look for an alternative to failed meme currencies.
final thoughts
As Bitcoin continues its downward trajectory, the current crisis in the Bitcoin market has exposed the weaknesses of meme coins like Dogecoin and Shiva Inus. The future is unknown for DOGE and SHIB as there is little encouraging momentum in the larger market. However, alternative services like Rexas Finance are gaining momentum, motivated by creative approaches to asset tokenization and continued pre-sale success. Rexas Finance offers investors looking to profit from the next big opportunity in the cryptocurrency scene a powerful, forward-looking investment option, with arguably better returns than traditional meme coins.
About Lexus Finance:-
Website: https://rexas.com
