Shiba Inu, the popular meme-inspired cryptocurrency, has been headlining the crypto space due to its various developments, such as the impending launch of Shibarium. While these developments have generated buzz among the cryptocurrency community, Avorak Trade, a blockchain, and AI-powered trading bot, notes that Shiba Inu news may not be enough to push the SHIB price. Let’s examine this interpretation.
Shiba Inu (SHIB)
As Dogecoin’s rival, Shiba Inu cryptocurrency rides on the popular Shiba Inu dog meme. As a meme-based currency competing with DOGE, SHIB heavily relies on community hype and influencer endorsements from the likes of Lucie Sasnikova, Snoop Dogg, and Elon Musk. The Shiba Inu ecosystem runs on the Ethereum blockchain and comprises three unique tokens, SHIB, LEASH, and BONE, each serving a specific function in the project.
Shiba Inu introduced the 3 tokens to find real use cases for its ecosystem. In addition, Shiba Inu is increasing its popularity over Dogecoin through its new developments in its ecosystem. Recent Shiba Inu news highlighted the Shibarium development team’s focus on working towards its launch. Shibarium, a layer 2 blockchain, is currently in the beta testing stage.
Avorak AI (AVRK)
Avorak AI is a comprehensive solution for individuals and blockchains, allowing for simplified execution of human-led tasks. Avorak packages all these solutions in a one-stop-shop portfolio. It deploys advanced trade bots, chatbots, and image generators using machine learning algorithms and is upbeat on the exceptional performance of these tools during the beta testing stage.
Avorak AI’s ICO, currently in phase six, has witnessed the AVRK token rise 291.67% to $0.235. The project rewards early ICO holders with bonuses, priority staking, and 17X gains on investment at a launch price of $1. Avorak AI is scheduled for listing on Azbit, PancakeSwap, Coinsbit, and LAToken exchanges on July 16. Avorak’s record performance has not escaped enthusiastic investors and crypto analysts. The House Of Crypto centers on Avorak’s potential 100X and believes that AVRK is a small market cap altcoin gem likely to enrich investors’ portfolios.
Avorak AI’s portfolio of text generators strives for error-free, nonrepetitive, and original content that meets the desired user writing style. Avorak Write solves the shortcomings of the existing writing assistants.
How Avorak trade interpretes Shiba Inu news?
According to Avorak Trade’s analysis, Shiba Inu’s current market capitalization and circulating supply could make it challenging for the SHIB price to increase significantly. Although the demand for Shiba Inu has increased due to its popularity, it may not be enough to overcome these market factors. Avorak AI’s trade bot analyzes markets 24/7 while recording valuable price signals that could affect cryptocurrency prices. In addition, Avorak Trade handles voluminous historical data using advanced algorithms and projects accurate price predictions.
Furthermore, Avorak AI notes that hype may contribute to its volatility and asserts the importance of conducting extensive research before making investment decisions in cryptocurrencies.
While Avorak Trade’s prediction may not be encouraging for Shiba Inu investors, it highlights the role of developing real use cases for cryptocurrencies. As its ICO presale has shown, Avorak’s real utility AI tools have high demand and propel its price to higher heights.
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