SHIB and Dogecoin (DOGE) Price Correction Creates an Opportunity for Unilabs (UNIL)

SHIB and Dogecoin price are entering a correction after a week of massive gains. Both memecoins have long been favorites in the crypto market among investors.

The price of SHIB and Dogecoin are entering a correction after a week of massive gains. Both memecoins, long a subject of interest among investors, have seen better days.

As the market goes through a correction, a new utility coin is gaining huge traction among investors. Unilabs (UNIL), a unique DeFi protocol, is positioning itself as the first fully decentralized hedge fund run by real-time AI. Experts believe that UNIL could hit $1 by the end of the year. Let’s explore more about this opportunity and the overall market.

Unilabs: A Unique AI-Driven Asset Manager for DeFi

Unilabs is not just another DeFi protocol. It is the world’s first AI-powered DeFi asset manager, boasting over $30 million in assets under management. Its cutting-edge technology continuously monitors hundreds of promising projects in the DeFi ecosystem.

This allows you to invest early and confidently, knowing that Unilabs’ AI identifies and ranks projects based on factors such as community strength, tokenomics, and market potential.

Unlike speculative tokens with no utility, UNIL holders have direct access to staking incentives on the platform and may participate in the performance of AI-managed portfolios.

The project’s staking concept promotes long-term involvement and environmental sustainability.

The Unilabs referral program offers a unique opportunity for early adopters to earn passive income while helping the platform grow. Each successful referral earns users with UNIL tokens, creating a win-win situation.

Profits are determined by referral volume under a structured, tiered incentive scheme, which encourages active community interaction.

Traders Are Still Betting on Dogecoin Price Despite the 5% Pullback

DOGE traders are showing a lot of interest in futures contracts, even though the Dogecoin price has dropped by 5% in the last 24 hours. The contrast between price movements and betting activity is catching attention.

One on-chain data source, Glassnode, said that open interest in Dogecoin futures rose from around $990 million to $1.62 billion this week. That increase comes after the price went down from about $0.25 to the $0.22-$0.23 range.

It shows that traders are still placing large bets, even when momentum slows down. Mid-February saw Dogecoin’s open interest fall below $900 million by April, following a short surge above $0.23. This week’s rise reverses the previous pattern.

According to sources, Dogecoin price went up from around $0.16 on May 6 to a little over $0.24 on May 11. That’s a big increase in just a few days. The Dogecoin price then went back down to the $0.22-$0.23 level. Overall, traders continue to believe that the rising trend is intact.

Shiba Inu (SHIB) Shows Signs of Reversal

Shiba Inu (SHIB) is trading at $0.0000148 at the time of writing, down 6.35% in the past 24 hours. The daily trading volume decreased by 34.46% to $343M. A drop in both price and volume indicates that the token’s trajectory is about to reverse, most likely due to a loss of interest from market players in light of recent developments and macroeconomic variables.

Shiba Inu has gained 11.96% in the previous 7 days, with a total market valuation of $8.8 billion.

The Relative Strength Index (RSI) is approaching 39.63, barely above oversold territory, indicating that bears may be running out of steam.

The price just broke out of a declining pattern that had held it down since early April. That breakout sent SHIB over the $0.000015 barrier, a key level that had previously limited upward movement. Currently, the level serves as short-term support.

Shiba Inu is a popular memecoin, often compared to Dogecoin. Both tokens rose to new highs in 2023, benefiting from the broader crypto market rally. However, both tokens are now encountering resistance, which may lead to a deeper correction in the market.

Shiba Inu’s breakout also coincided with a surge in trading volume, which could be attributed to the token’s listing on major exchanges. The move is part of Shiba Inu’s broader strategy to expand into new markets and increase its visibility among retail investors.

Shiba Inu is still a relatively new token, and it has already faced several challenges. The token’s price was highly volatile, and it could be affected by market trends and news events.

Despite these challenges, Shiba Inu has a strong community following, which could continue to support the token in the long term. The community is actively involved in developing new projects and initiatives to enhance the Shiba Inu ecosystem.