Altcoins

ChatGPT Predicts 6 Altcoins That Could Be The Next Shiba Inu

Published

7 months ago

4 July, 2024

Blaze Token Founder Reveals His Top 3 Altcoins

Popular AI chatbot ChatGPT highlights the top six altcoins that could become the next Shiba Inu, including FLOKI, KISHU, ELON, and SAITAMA.

Shiba Inu has seen one of the biggest rallies of the 2020/2021 bull cycle, leaving many investors speechless. Reports confirm that its price has soared by over 45,000,000% between August 2020 and October 2021, reaching a new all-time high (ATH) of $0.00008845.

The Shiba Inu’s meteoric rise has made many investors millionaires overnight. As a result, market participants who missed out on the rise have been focused on finding the next Shiba Inu that could potentially see a similar price surge.

Looking for the next Shiba Inu

Finding the next Shiba Inu could be difficult, given the number of tokens on the market. CoinGecko data suggests that at least 5,300 tokens are deployed to the market daily, with over 540,000 tokens launched this year by April 2024.

Most of these tokens are memecoins, with some tactically adding “Inu” to their name as part of a larger trend that started with Shiba Inu. Still, there’s no guarantee they can replicate SHIB’s success in 2021.

ChatGPT Highlights Top 6 Contenders to Become the Next Shiba Inu

However, amidst the continued search for investors, we have employed ChatGPT services to find possible answers. According to the famous AI chatbot, finding the next Shiba Inu involves identifying tokens with rapid growth potential, vibrant communities, and real-world use cases.

Interestingly, ChatGPT highlighted six altcoins that are potential contenders to become the next Shiba Inu.

Floki (FLOKI)

Topping the list is Floki (FLOKI), a memecoin named after Elon Musk’s Shiba Inu dog, Floki. It was created in July 2021 to combine real-world utilities with memecoins. Thanks to its aggressive marketing and burning campaignFLOKI has gained considerable popularity in the industry, which has helped him build a vibrant community on social media.

At press time, FLOKI is trading at $0.0001477, with a daily decline of 11.3%. It is currently down 57.67% from its ATH of $0.0003462, recorded on June 5, 2024. FLOKI is the 55th largest token, with a valuation of $1.44 billion.

Kishu Inu (KISHU)

The second token in the list of contenders for the title of the next Shiba Inu is KISHU. Launched on April 17, 2021, KISHU is a meme-inspired token that aims to create a decentralized ecosystem that includes NFTs and a decentralized exchange. ChatGPT noted that KISHU shares similarities with Shiba Inu in terms of community engagement and marketing strategies.

At the current exchange rate of $0.0000000003743, KISHU is down 5.08%. It has plunged 98.14% from its ATH of $0.00000002, recorded on March 14, 2021. The memecoin is ranked as the 618th largest token with a valuation of $34.62 million.

Safety Moon (SAFEMOON)

ChatGPT ranked Safemoon as the third asset capable of replicating Shiba Inu’s feat in 2021. SAFEMOON, which was launched in March 2021, has managed to garner considerable attention in the crypto space due to its unique tokenomics. Some of its key features include burns, a static reward system, and automatic LP acquisition.

Like Shiba Inu, SAFEMOON has a vibrant community behind it, which continues to drive its adoption. It is currently trading at $0.00003005, down 1% in the past day. SAFEMOON has a market cap of $16.73 million, making it the 1,030th largest token. It recorded its ATH of $0.003383 on June 5, 2022, and has plunged 99.1% since then.

Dogelon Mars (ELON)

Inspired by Dogecoin and American businessman Elon Musk, Dogelon Mars was launched on April 23, 2021. Its focus is on community initiatives and space-themed marketing. ELON has gained popularity due to its vibrant community support and memecoin appeal.

Ranked as the 406th largest cryptocurrency, ELON has a market cap of 77.37 million, with a token value of $0.0000001408. It is currently down 99.57% from its all-time high of $0.00003263, observed on July 31, 2021.

EverGrow Coin (EGC)

Launched in September 2021, EverGrow Coin is a deflationary token designed to provide holders with passive income through transaction fees and burn mechanisms. EGC’s focus is centered on rewarding holders and developing a sustainable ecosystem.

With a token value of 0.00000007575, EGC is down 5.79% in the daily charts and 97.76% from its ATH of $0.000003379. EGC is ranked as the 4,529th largest cryptocurrency, with a valuation of $35.34 million.

Saitama Inu (SAITAMA)

The latest coin in the list of contenders for the title of the next Shiba Inu is Saitama Inu (SAITAMA). It began trading on May 30, 2021, and has evolved over the years to become Saitachain Coin.

The ecosystem team behind the token is focused on providing financial services to everyone, especially the unbanked and underbanked. Their goal is to create a transparent and community-driven ecosystem with educational resources.

SAITAMA is currently trading at $0.0009465 per token, down 4.51% in the last 24 hours. With a market cap of $40.11 million, the token ranks 573rd on CoinMarketCap.

At the same time, ChatGPT encouraged investors to do their due diligence before investing in any of the aforementioned tokens. This is because these assets, like most meme coins, are highly volatile and carry enormous risks. There is no guarantee that any of them will see significant gains in the future.

Disclaimer: This content is informational and should not be considered financial advice. The opinions expressed in this article may include the personal opinions of the author and do not reflect the opinion of The Crypto Basic. Readers are encouraged to conduct thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

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Altcoins

Long-Term Impact of Ethereum ETF on Cryptocurrency Market

Published

6 months ago

29 July, 2024

CoinFlix Staff

Long-Term Impact of Ethereum ETF on Cryptocurrency Market

Popular crypto analyst Michael van de Poppe has highlighted his altcoin portfolio approach in light of the new Ethereum ETF. In a recent Youtube videoThe analyst explained the measures he would take for this major market event.

The Ethereum ETF was listed on the stock exchange and it took time to get approval and so far there has been no significant change in price. The analyst pointed out that the long-term effect could be quite significant, comparing it to the situation of the Bitcoin ETF where the initial decline was followed by large inflows.

According to Van de Poppe, the Ethereum ETF’s trading volume on the first day of trading was about 25% of the volume Bitcoin ETF He noted that the first day of trading was marked by low inflation, and said there was a net inflow of $150 million to $160 million, which reduced the available supply.

Altcoins are poised for growth

The analyst said that as Ethereum adoption increases in the future, the supply of Ethereum will decrease, which is a deflationary model. Ethereum is up about 15% since the ETF approval, the broader market reaction has yet to happen as several sell-offs have taken place, including the Grayscale Trust.

Van de Poppe also mentioned other important market events, including the end of Mount Gox The process of repaying creditors initially caused tensions in the markets, but had little effect subsequently. It also highlighted the role of macroeconomic factors, which can lead to Fed rate cuts, which can affect markets.

In this regard, looking at van de Poppe’s strategy, he is still keen to trade within the altcoins of the Ethereum ecosystem. He stated that there is a possibility of short-term price fluctuations that may discourage many people, but the long-term still looks good due to the improvement and adaptation that has been made to Ethereum and its environment.

According to the analyst, substantial inflows could propel Ethereum towards new historic highs with estimates ranging from $5,000 to $7,000. Despite the current market fluctuations, he is confident that macroeconomic changes and greater liquidity will be favorable for altcoins.

He explained that his broad approach to altcoins, especially those associated with Ethereum, will be beneficial because the market will react differently to these events. The basis for his optimism comes from the fact that he believes that Ethereum and all associated projects are still extremely undervalued and have the potential to skyrocket as sentiment changes.

Looking ahead and market adjustments regarding the Ethereum ETF and other macroeconomic factors, the analyst remains bullish on altcoins. He suggested investors stay informed and believe that in the ever-changing world of crypto, they will eventually be rewarded.

Fuente

Altcoins

Altcoins Are Severely Undervalued, Awaiting Ethereum Move | Flash News Detail

Published

6 months ago

28 July, 2024

CoinFlix Staff

IntoTheBlock Releases Report on Institutional DeFi Trilemma

Disclaimer

Disclaimer: Blockchain.news provides content for informational purposes only. Under no circumstances shall blockchain.news be liable for any direct, indirect, incidental or consequential damages arising out of the use of, or inability to use, the information provided. This includes, but is not limited to, any loss or damage resulting from decisions made based on the content. Readers should conduct their own research and consult professionals before making any financial decisions.

Fuente

Altcoins

Altcoins Correct Amid ETH Decline, Grayscale Outflows | Flash News Detail

Published

6 months ago

28 July, 2024

CoinFlix Staff

Disclaimer

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Altcoins

Epic Altcoin Rally Expected for August and September

Published

6 months ago

28 July, 2024

CoinFlix Staff

Crypto analyst predicts massive altcoin rally similar to Q1 2024, urging patience and accumulation.
Bitcoin’s potential as a reserve asset and its technical patterns suggest that it will drive the rise of the cryptocurrency market.

Captain Faibik, a renowned crypto analyst, has created excitement in the cryptocurrency sector with his latest prediction. He indicated that we are on the cusp of a massive altcoin rally, similar to the one we saw in Q1 2024.

We are on the verge of a massive Altcoin rally, similar to Q1 2024📈

Keep accumulating and hold with patience. (Patience will be rewarded)

The majority of #Altcoins have already hit rock bottom and are about to escape.

In my opinion, August-September is going to be epic for Altcoins.🚀🚀#Crypto pic.twitter.com/cMdHagiaYc

— Captain Faibik (@CryptoFaibik) July 24, 2024

Accumulating and Holding Altcoins: The Path to Potential Profits

He stressed the need to accumulate altcoins and hold them patiently, as it will eventually pay off. According to him, the majority of altcoins have already bottomed out and are about to break it. He believes August and September will be epic months for altcoins.

In a chart posted by Captain Faibik, the overall crypto market cap, excluding Bitcoin and Ether, known as TOTAL3, is approaching the upper boundary of a descending channel pattern.

This context suggests a potential breakout and a significant rally towards the $1 trillion mark. Technically, the decline since mid-March is interpreted as a corrective trend for the value of TOTAL3, signaling a preparation to enter a rally structure.

Bitcoin’s influence and legislative developments suggest good prospects for the future

Furthermore, based on sentiment and technical patterns, Bitcoin, the world’s leading cryptocurrency, appears poised to lead the charge in the cryptocurrency market. Bitcoin’s performance often sets the tone for the market as a whole, and a strong move in BTC could trigger a significant rally in altcoins.

Previously, as we have already said reportedSenator Cynthia Lummis said she plans to introduce a bill at the upcoming Bitcoin conference that would require the Federal Reserve to hold Bitcoin as a reserve asset.

If this law passes, the US will treat BTC as a long-term investment rather than selling huge amounts infrequently, which could disrupt the market.

In addition, asset management firm VanEck has proposed a bold scenario in which Bitcoin Price Could Reach $2.9 Million Per BTC By 2050based on its fundamental outlook. Matthew Sigel, head of digital assets at VanEck, and senior investment analyst Patrick Bush noted that their estimate is based on Bitcoin’s adoption as a global medium of exchange and reserve asset.

As Bitcoin price increases, altcoins are expected to gain popularity, indicating the start of a bullish rally shortly after the BTC halving event.

Meanwhile, at the time of writing, the price of BTC was hovering around $67,007.99up 4.67% over the past 24 hours following a short-term correction.