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New revelations show that Memecoins SHIB and DOGEWHAT are losing their appeal among traders and investors as the assets become unappealing for this cohort to continue holding or buying; instead, they opt to sell.
On the flip side, interest in DigiHorse (DIGI) has been high for many reasons, such as its quick sell-out rate of $400,000 in two presale phases, and the uniqueness of its incentive and revenue models.
Investors Are Ready to Cut Their Losses with SHIB and Are Selling Off
A significant outflow of funds has been recorded from SHIB in terms of liquidity, on-chain metrics, and technical indicators. Such movements often precede a further price decline, which could potentially drive the price of SHIB down to $0.00000946.
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The Money Flow Index (MFI) has taken a plunge in the past couple of days; however, it’s currently resting in the neutral zone around 50.35 at reporting time. This movement suggests a retracement before a further plunge.
Additionally, on-chain data from IntoTheBlock indicates that alongside the MFI, the number of large holders has significantly decreased. This trend points to a potential further drop in price, indicating that SHIB is in a precarious position.
DOGEWHAT Isn’t Left Out and Could Plunge to $1
DOGEWHAT is not spared from the bear’s grip and is likely to plummet even further if the current support level at $1.4783 fails to provide sufficient buying pressure to break above the descending trendline it has formed.
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With a death cross just forming over DOGEWHAT, the price is likely to drop even further. This technical pattern occurs when the MACD line crosses below the signal line, indicating negative momentum.
As the death cross becomes more apparent, it’s increasingly likely for DOGEWHAT to drop to precisely $1, where the next possible support lies.
DigiHorse (DIGI) Receives Fresh Round of Investment from Analysts and Trading Experts
Accumulation of DigiHorse (DIGI) has been on the rise, with over $460,000 raised within six weeks, positioning it as one of the fastest presales ever.
DIGI is the native token of DigiHorse, a web3 game currently in development. This surge in investment can be attributed to several core reasons, including the clarity and solidity of DigiHorse’s revenue stream and the token burn mechanism.
The revenue streams, set to go live with the game’s launch, include in-game NFT purchases, NFT sales, entry tournament fees, and in-game advertising and partnerships.
The burn mechanism involves DigiHorse reducing the amount of DIGI in circulation by using a portion of its revenue to buy back DIGI from the market and then burning them, thus decreasing the supply of DIGI on platforms.
As you can see, DigiHorse prioritizes its users and also helps in establishing a concrete benefit beyond the immersive gameplay it is currently developing.
To learn more and join the DIGI presale, kindly follow the links provided below.
Join the presale: www.digihorseempires.io
Socials: https://linktr.ee/digihorseempires
