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The cryptocurrency space is always witnessing constant lookout for the next big opportunities by investors. Although Shiba Inu was once the preferred choice in the crypto industry, it has faced various challenges such as market fluctuations and increased competition. This has left many wondering if there is still room for growth for the coin among leading altcoins.
This article will explore Bitcoin Cash (BCH), Chainlink (LINK), and FXGuys ($FXG), three alternative cryptocurrencies to SHIB, promising better returns in 2024. Let’s dive in!
LINK’s Uncertain Future: On-Chain Data Reveals Decline, but Integrations and Social Buzz Offer Optimism
According to on-chain data analysis by Santiment, Chainlink network has experienced a drop of approximately 2,000 non-zero addresses, over the past four weeks. This downturn is as a result of cash flow decline in the altcoin industry, caused by the poor performance of bitcoin and Ethereum ETFs in the U.S.
Even though the US Fed hinted at a possible interest rate cut on September 18, 2024, uncertainty about the upcoming elections is still holding back bullish sentiment in the market.
Nevertheless, the Chainlink community has persisted in expanding its global networks, with several DeFi protocols integrating with Chainlink in the past week to improve future interoperability. Notable integrations include Ambit Finance, Euler Labs, JOJO exchange, Tadle, and zkLend, among others.
These recent integrations suggest a potential near-term recovery of Chainlink’s bullish sentiment. Also, Chainlink discussions on social media have reached an all-time high this year, indicating a bullish signal if market stability ensues.
Meanwhile, the recent price movement of LINK has been sluggish. The token is currently trading at $10.34, having dropped by 3.90% over the past week, when it traded at $10.76 on September 2. However, the bullish sentiment of analysts remains because of the Chainlink’s Market Value to Realized Value (MVRV) ratio, which apparently, has turned positive. This suggests that the token’s value could soar to $15.00 in the short term.
Conversely, analysis reveals that numerous LINK holders are currently in the red, with a substantial concentration of buy orders around $10.52. This indicates a lack of robust support, potentially paving the way for a price decline to $9.72.
Nobuaki Kobayashi, the MtGox Rehabilitation Trustee, recently announced the newest payments to creditors in Bitcoin and Bitcoin Cash as part of the ongoing Rehabilitation Plan. Putting in mind that the exchange collapsed in 2024, leading to the theft of hundreds of thousands of Bitcoins, the recovery attempts demonstrate a major development.
Recently, BCH has been taking a downward trend, with CoinMarketCap data showing that the coin traded at $323.73 on September 2, 2024 but has since dropped by 5.72% to trade at $305.22.
However, despite this, there are still some experts who are optimistic because early signs from the Momentum Indicator and Relative Strength Index (RSI) suggest a potential bullish change. If the upward buying trend persists, Bitcoin Cash could possibly surpass the critical resistance level of $339.67 in the upcoming weeks, suggesting a potential reversal in the value of one of the leading alternative cryptocurrencies.
However, there are some analysts who are bearish on Bitcoin Cash because its price is currently lower than the 50-day Exponential Moving Average (EMA) of $347.33, suggesting a significant downward trend.
Moreover, the MACD line is situated under the signal line, indicating a possible decline. Consequently, BCH could see a drop to $290 soon, potentially within a couple of weeks.
Join The FXGuys Project Now For Massive Forex Trading Gains
FXGuys is an innovative decentralized Forex trading platform that utilizes blockchain technology to change how individuals and institutions engage in the worldwide currency market.
FXGuys aims to establish a trading environment that is transparent, secure, and driven by the community through decentralization, removing the necessity for intermediaries and offering exceptional liquidity access.
FXGuys has recently launched a new Trade2Earn initiative where traders can earn $FXG tokens with every trade, regardless of the trade outcome being profitable or not. This special characteristic ensures that traders are compensated for all trading activities, enabling them to collect tokens for a variety of exclusive privileges.
These benefits include access to lower profit targets, increased drawdown limits, and other essential tools designed to boost overall trading performance, making the platform more appealing to users at all skill levels.
Aside from its lucrative trading model, FXGuys also provides a Prop Firm Funding program which gives traders the opportunity to manage significant capital, up to $200,000. This funding opportunity is especially advantageous for ambitious traders looking to utilize larger positions without putting their own money at risk.
FXGuys has a profit-sharing model that is fair and transparent, enabling traders to keep as much as 80% of the profits earned through their trading endeavors. This model encourages traders to excel and fosters a cooperative environment for the platform and its users to thrive together.
$FXG is the native token of FXGuys ecosystem, serving various functions within the platform. The token is deeply integrated into the platform, acting as the main form of payment for trading fees, staking, and governance.
By holding $FXG, users can participate in the platform’s decision-making process, contribute to its growth and development, and access exclusive features and services that improve their trading experience.
$FXG Offers You a Chance to Make Massive Profits as Other Altcoins Struggle
In the ongoing volatile market, $FXG stands out as a compelling opportunity for investors seeking high returns and cutting-edge innovation. With its impressive ROI potential and expert endorsement as a top crypto to buy, $FXG is poised for success.
The ongoing presale offers a unique opportunity to invest, with the seed round priced at $0.01 per $FXG token and potential gains of up to 900% by the launch price of $0.10.
Following a successful seed funding round, which sold out to email subscribers within 24 hours, the private sale phase is currently underway at $0.015.
With the public presale set to begin in ten days, investors can capitalize on a potential return of up to 556%. Don’t miss out on the chance to be a part of FXGuys’ revolutionary blockchain technology and potentially reap substantial rewards!
The post Is Shiba Inu Still Worth It In 2024? See 3 Altcoins Promising Better Returns appeared first on CoinGape.
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