Shiba Inu (SHIB) Coin Price Drops as Network Utilization and Burn Rate Decline

SHIB, once a top meme coin with tremendous community support, is now suffering a dramatic fall in network utilization and burn rate

Crypto specialists are concerned about Shiba Inu Coin’s decline. SHIB, once a top meme coin with tremendous community support, is now suffering a dramatic fall in network utilisation and burn rate, crucial ecosystem metrics. Stagnation is forcing holders to sell and try other tokens with more promise. Newcomer Remittix (RTX) is garnering popularity for its novel utility and early growth signs, with investors turning to it for better profits.

Shiba Inu Coin’s momentum slows

Analysts are worried about the diminishing use of the Shiba Inu Coin (SHIB) network and the token’s burn rate dropping significantly, which makes the future of the coin less assured. Even though the burn rate shot up over 106,000% in one day, destroying 15.3 million SHIB tokens, the general trend has been down. Recent data shows that daily burns have dropped by 78%, with only 3.3 million tokens burned on Sunday.

This dip in burn activity happens at the same time as a drop in trade volume and the total value locked (TVL) in Shiba Inu’s layer-2 network, Shibarium, which went from $3.98 million to $3.41 million in the last week. These numbers show that investors are losing interest and involvement in the SHIB ecosystem as the SHIB price hovers around $0.000014.

Source: CoinMarketCap

Other meme coins, like Dogecoin (DOGE) and Pepe (PEPE), on the other hand, have kept their trading volumes strong, which shows that investors are paying less attention to them. The lower burn rate and network activity make people wonder if Shiba Inu coin can keep its worth and appeal in a market with a lot of coins.

The Shiba Inu community is still active, but the current patterns show that new techniques are needed to increase network utilization and token utility. If there aren’t any big changes, SHIB holders are starting to sell and look for other investment options in the ever-changing world of cryptocurrencies.

Remittix is taking the lead with tangible value and strong gains

Despite still being in pre-sale, Remittix is rapidly gaining traction and appears poised to propel PayFi globally.

Remittix aims to revolutionize cross-border payments by providing safe and efficient international transfers. This will be made feasible by Remittix’s audacious proposal, which includes a Pay API that uses a blockchain platform to carry out cryptocurrency-to-fiat transactions.

Source: Official Website

Customers and business owners can benefit from crypto-to-fiat payments using Remittix. Additionally, they can quickly establish connections with regional payment networks by utilizing the blockchain.

Simply link a wallet, add cryptocurrency to it and authorize international payments in more than 30 different currencies to get started. Remittix’s Pay API simplifies payments by offering cross-border payments that are designed with no additional costs or FX charges.

Moreover, Blocksafu has rated it as very safe due to its smart contract running on the Ethereum blockchain. Owners of businesses and individual customers can always rely on transparent transactions.

Conclusion

While Shiba Inu coin is having a rough time, Remittix is steadily making its way towards official listing with a higher potential return on investment.

The RTX token was once priced at $0.015, but following several price hikes and has already raised over $15.2 million, it is currently trading at $0.0781, with $0.0811 being its next target price. That’s already a nice 600% return on investment for the early purchasers.

An incredible return on investment is still possible for buyers who take part in the presale. About 20% of Remittix’s whole supply is still accessible; therefore, there is still time to take advantage of this life-changing opportunity.

Discover the Remittix Pay API and the RTX tokenomics here:

Website: https://remittix.io/

Socials: https://linktr.ee/remittix