In recent years, the world of meme coins has exploded into a popular culture phenomenon. Dogecoin and Shina Inu, in particular, are some of the best-performing altcoins of the previous bull rally, and there is no telling what these meme coins might do in 2023.
However, things are changing as new altcoins flying under the radar of most crypto natives, such as COLT from Collateral Network, have emerged.
In this article, we will be delving deeper into the unique characteristics of these coins and look into why experts are predicting a 3500% return on COLT in the next 6 months.
The popularity of this meme coin is nothing new. In the 2017 crypto bull market, Dogecoin managed an all-time-high price of $0.017 before retreating following the 2018 prolonged bear market.
Since its previous price rally that saw the price of one DOGE hit unprecedented all-time highs, Dogecoin’s main developer, Michi Lumin, has announced a range of updates to improve the blockchain. These updates include new features like QR codes, support for multiple languages, secure message signing, and compatibility with Windows.
The upgrade will allow both developers and non-developers to create seed phrases in different languages. Additionally, Dogecoin’s software, Libdogecoin, will be able to make QR codes in different formats and improve security for messages and transactions. These improvements also fix some ongoing issues that developers have faced in the past. Currently, however, Dogecoin’s price is $0.0746, with a 3.5% decrease in the last 24 hours.
Shiba Inu (SHIB)
Shiba Inu (SHIB), a well-known meme-based cryptocurrency, has recently reached its lowest trading volume in months, setting a new negative record.
The drop in trading activity can be mainly attributed to the decreased volatility of the asset and a general decline in market demand for riskier investments. At the time of writing, SHIB is trading at a price of $0.00001, losing 5% of its value over the past week.
The token is currently trading below both its 50-day and 200-day moving averages, suggesting a bearish trend. Moreover, the falling trading volume and the Relative Strength Index (RSI) near the neutral 50 mark further highlight the diminished interest in the token.
Collateral Network (COLT)
Next up is Collateral Network (COLT). This is the world’s first crowdlending platform for NFTs that allows borrowers to unlock cash from their physical assets on the blockchain.
It enables users to become their own banks and provide fractional loans to borrowers for an agreed fixed rate of interest. The platform mints tangible NFTs against physical assets, fractionalize them, and allows the community to fund the loans.
Borrowers can take advantage of the Collateral Network platform by borrowing against their physical and digital assets quickly and discreetly, and all contractual information is stored on the public blockchain.
The platform offers low-cost borrowing, fixed income for lenders, and a tangible NFT that investors lend funds against. COLT also features a marketplace, auctions, and token discounts for borrowers and crowd lenders. The token has staking, and governance features, and analysts predict a 35x surge in price within the next 6 months.
With a network built on the ethereum blockchain with multi-chain capabilities, only 50% of the total supply of COLT will be available for presale.
Find out more about the Collateral Network presale here:
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