Over the course of the last few weeks, Shiba Inu has continued to lose momentum, whilst other meme coins such as Dogecoin have been able to maintain a stronger position.
Shiba Inu has far more regulatory risk than Dogecoin
Given the current regulatory clampdown underway in the crypto space, Shiba Inu looks to be in much hotter water than alternatives such as Dogecoin, especially given the current debate that is raging over what constitutes a commodity and what constitutes a security.
Shiba Inu, as a project that is built on top of the Ethereum blockchain and has insiders, has very different fundamentals to Dogecoin, which operates on proof of work and is far more decentralised.
“Risk on” assets suffer more in a bear market
In a bull market, “risk on” assets tend to often outperform those investments that are deemed to be safer.
In a bear market, “risk on” assets are the first to be sold as investors flee to safer havens such as Bitcoin. High risk and high volatility assets such as Shiba Inu are far more likely to take a significant hit in such markets.
Shiba Inu lacks utility
When compared with other meme coins in the space, such as Tamadoge, SHIB is a project that lacks utility other than as a speculative vehicle.
Nowadays, the markets are constantly demanding that projects and their founders build a lot of utility for their ecosystems, and many believe that projects such as SHIB are struggling to contend with this reality.
Dash 2 Trade is a brand new crypto signals platform that is positioning itself as the “Bloomberg terminal for crypto”.
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RIA is the native token of Calvaria: Duels of Eternity, which is a brand new play to earn game launching across multiple blockchains.
Not only is the token used as the in-game currency but also for play to earn rewards and as the governance token for the future direction of the project.
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TARO is the native token of the RobotEra ecosystem, and is used as the currency within the RobotEra metaverse, as well as the governance token for the RobotEra DAO.
The RobotEra metaverse is a brand new metaverse that aims to rival current hegemons such as the Sandbox and Decentraland.
In the RobotEra metaverse, the user becomes a robot and has the opportunity to socialise and game with others in their ecosystem.
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